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Huize Launches Customized Mid-Tier Medical Insurance Product “PrimeMed” in Partnership with CCIC and MSH CHINA

1. Huize launched 'PrimeMed', a new mid-tier medical insurance product. 2. PrimeMed offers flexible deductibles and children's coverage options. 3. Annual premiums start at RMB958, catering to cost-conscious consumers. 4. Product aims to fill gaps in healthcare with upgraded commercial insurance. 5. Collaboration with CCIC and MSH CHINA enhances product's hospital access.

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Why Bullish?

The introduction of 'PrimeMed' shows growth potential, attracting more customers, similar to previous product launches boosting sales.

How important is it?

This product launch is critical for Huize’s growth strategy, positioning it well in a rising market.

Why Long Term?

As awareness grows, the sustained demand for flexible insurance products will benefit Huize long-term, akin to successful insurtech trends.

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CCICMSH1508.HK
January 16, 2025 05:00 ET  | Source: Huize Holding Limited SHENZHEN, China, Jan. 16, 2025 (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 Asia, today announced the launch of “PrimeMed”, a customized mid-tier medical insurance product, in collaboration with China Continent Property & Casualty Insurance Co., Ltd. (CCIC) and MSH CHINA Enterprise Services Co., Ltd. (MSH CHINA). Designed to provide scarce, high-cost medical resources such as specialized and international departments in public hospitals and designated private medical institutions, this new solution addresses the need for flexible and affordable insurance coverage. “PrimeMed”’s key features include: Flexible deductibles: three plan options are offered, including zero or low shared deductibles, making inpatient services across different medical institutions more accessible while streamlining enrollment and claims processing.Children’s coverage: allows parents to insure children under 18, expanding protection options for the family.Relative deductible scheme: enables compensation from other sources (such as public health insurance) to offset deductibles, improving the accessibility of benefits.Affordable premiums: annual premiums start from RMB958 for the primary age group, with options to add accident outpatient emergency coverage and receive family package discounts. With these innovative and flexible features, “PrimeMed” offers premium healthcare services at a price point designed to appeal to consumers seeking an affordable upgrade from traditional million-yuan medical insurance products. Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “As public awareness and spending on mid-to-high level medical care services continue to grow, we developed ‘PrimeMed’ to meet a critical need for comprehensive coverage. The product provides access to multiple hospital types and departments, as well as out-of-hospital medications and imported medical devices expenses, ensuring broader protection for individuals and families seeking higher-quality healthcare. Our partner MSH CHINA, a high-end health insurance service provider, strengthens the product offering with their extensive hospital network across top-tier Chinese hospitals and established billing relationships, ensuring seamless access to premium medical care. Additionally, in line with the government’s initiative for the differentiated development of basic medical insurance and commercial insurance, ‘PrimeMed’ provides a personalized upgrade in commercial medical care, extending coverage to areas that basic insurance often does not reach—such as imported drugs, specialized medical devices and complex surgeries. This solution exemplifies our commitment to addressing gaps in the healthcare system and developing innovative insurance solutions that cater to the evolving needs of our customers, contributing to better healthcare outcomes.” 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 Asia. 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. For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), Twitter (https://twitter.com/huizeholding) and Webull (https://www.webull.com/quote/nasdaq-huiz). About MSH CHINA Enterprise Services Co., Ltd.Founded in 2001, MSH China serves as the Asia-Pacific headquarters of MSH INTERNATIONAL. With offices in major cities including Shanghai, Beijing, Guangzhou, Shenzhen, and Chengdu, MSH China provides premium health insurance solutions to both corporate and individual clients. The company has a professional team of nearly 500 employees, with over 70 specialists holding medical backgrounds, offering services in more than ten languages, including Chinese, English, and French. As part of MSH INTERNATIONAL, a global leader in international health insurance, MSH China is committed to delivering innovative, high-quality health services to clients across China and the Asia-Pacific region. For more information, please visit: https://www.mshasia.com/ About China Continent Property & Casualty Insurance Co., Ltd. Founded in 2003, China Continent Property & Casualty Insurance Co., Ltd. (CCIC) is a national property & casualty insurance company, fully owned by China Re Group (stock code: 1508.HK), the only state-owned reinsurance group in China. The company operates 39 branches and more than 2,100 sub-branches nationwide, with nearly 46,000 employees. For more information, please visit: http://www.ccic-net.com.cn/en/ For investor and media inquiries, please contact: Investor RelationsKenny LoInvestor Relations Managerinvestor@huize.com Media Relationsmediacenter@huize.com Christensen In ChinaMs. Dee WangPhone: +86-10-5900-1548Email: dee.wang@christensencomms.com In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com

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