Huize Partners with Huagui Life to Launch “Da Mai Ding Hai Zhu”- A Customized Term Life Insurance Product

SHENZHEN, China, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading digital insurance product and service platform for new generation consumers in China, today announced that it has partnered with Huagui Life Insurance Company Limited (“Huagui Life”) to launch “Da Mai Ding Hai Zhu”, a customized term life insurance product designed to meet the protection needs of the younger generation.

There are three key product highlights of “Da Mai Ding Hai Zhu”: (i) basic coverage of up to RMB3 million with additional benefits of up to RMB6 million for major traffic accidents and events triggered by natural disasters; (ii) care benefits of up to RMB1.5 million for either parent, and special care benefits for death before 45 years old; and (iii) increased flexibility in health declaration process, lowering the threshold for consumers with pre-existing conditions.

Mr. Cunjun Ma, Founder, Chairman and Chief Executive Officer of Huize, commented, “Given the huge mortality protection gap and increasing insurance awareness among the younger generation, we foresee substantial room for the development of life insurance products in China, especially since young consumers are now expressing more interest in term life protection plans. The launch of “Da Mai Ding Hai Zhu” with Huagui Life not only reflects our new product innovation initiative in the term life insurance segment, but also demonstrates our industry-leading competitive edge in co-developing customized products with our insurer partners to create value for our customers. With the elevation of common prosperity in China, we will shoulder social responsibilities by providing affordable insurance products with greater protection, which is also in line with our mission to meet the lifelong insurance needs of new generation consumers.”

About Huize Holding Limited

Huize Holding Limited is a leading digital insurance product and service platform for new generation consumers in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their life-long insurance needs. Leveraging its online platform, Huize offers a wide variety of insurance products with a focus on long-term life and health insurance products, and empowers its insurer partners to reach a large fragmented client base in the insurance retail market efficiently and enhance their insurance sales. Huize provides insurance clients with digitalized insurance experience and services, including suitable product recommendations, consulting service, intelligent underwriting and assistance in claim application and settlement, which significantly improve transaction experience.

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About Huagui Life Insurance Company Limited

Founded in 2017, Huagui Life Insurance Company Limited is a national life insurance company headquartered in Guizhou province. Huagui Life strives to provide customers with comprehensive and innovative insurance products including life insurance, annuity insurance, health insurance, accident insurance and participating insurance.

For more information, please visit  .

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