Huize Partners with PICC Life Insurance to Launch “i Wu You – Low-Threshold Edition” – A Customized Critical Illness Insurance Product

SHENZHEN, China, April 19, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in China, today announced that it has partnered with PICC Life Insurance Company Limited (“PICC Life”) to launch “i Wu You – Low-Threshold Edition”, the latest customized critical illness insurance product in the “i Wu You” series that offers a personalized solution with a relaxed health declaration process to customers.

“i Wu You – Low-Threshold Edition” differentiates itself with three key product offerings: i) flexible coverage for 28 severe and three mild illnesses, with a maximum of one claim for severe illnesses and three claims for mild illnesses and an option of lifetime coverage or up to age 70; ii) a relaxed health declaration process that is open to customers with a history of pre-existing conditions, hospitalization, and premium loading; and iii) a low eligibility threshold open to customers aged 30 to 65. The product also offers customers additional value-added services including multi-disciplinary consultation.

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “Through our partnership with PICC Life, we launched this product to offer protection and reassurance to a wider range of customers with sub-health. We streamlined the underwriting process to take into account variations in individual health and insurance needs. This not only allows our insurance carrier partners to broaden their customer base but also extends protection to customers with pre-existing conditions.”

About PICC Life Insurance Company Limited
Founded in 2005, PICC Life Insurance Company Limited is a subsidiary of the People’s Insurance Company of China with a registered capital of RMB25.8 billion. PICC Life is dedicated to providing customers with comprehensive, efficient, and convenient services, covering the whole life cycle of customer needs, including health products, retirement protection and wealth protection. As of the end of 2022, the Company's total assets were RMB 578.2 billion. The Company has 36 provincial branches and more than 1,600 sub-branches and offices nationwide.

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About Huize Holding Limited

Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in China. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.

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