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HUIZ
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209 days

Huize Served Over 1.3 Million Families, Facilitating More Than 12 Million Insurance Policies in 2024

1. Huize achieved a 74.7% increase in processed claims in 2024. 2. Over 1.3 million families served with 12 million policies facilitated. 3. Huize's customer satisfaction was 98.82% for online support. 4. Claims settlement total increased 41.7% to RMB808 million. 5. Senior citizen support expanded, reflecting growth in online insurance purchases.

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Why Bullish?

Increased claims processing and customer satisfaction indicate strong operational performance. Similar performance boosts in the past often positively influenced stock prices.

How important is it?

The growth in customer base and service quality is critical for HUIZ's valuation.

Why Long Term?

Sustained improvement in customer service may enhance brand loyalty, driving future growth.

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HUIZ
January 22, 2025 05:00 ET  | Source: Huize Holding Limited SHENZHEN, China, Jan. 22, 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 released its 2024 Customer Service Report and 2024 “Xiao Ma Claim” Service Annual Review. As highlighted in the two reports, Huize served over 1.3 million families with more than 12 million insurance policies facilitated in 2024. The Company also assisted in processing 160,800 insurance claims in 2024, a 74.7% increase compared to 2023. The total amount of claims settled in 2024 was RMB808 million, a 41.7% increase from the previous year. Huize’s “Xiao Ma Express Claim” service, which focuses on settling and paying out small claims within one business day, handled 85,000 claims in 2024 with the total amount of claims settled reaching RMB39.37 million, an increase of 66.6% and 63.4%, respectively, compared to 2023. Huize remains committed to delivering exceptional customer service, achieving a customer satisfaction rate of 98.82% for online customer support and 99.51% for teleservices in 2024. Over the year, the Company delivered teleservices 310,000 times totaling 33,000 consultation hours. Notably, Xiao Ma Claim recorded a 91.15% one-time resolution rate and a 99.9% online response rate, reflecting its commitment to efficiency and customer care. The two reports also provided several key insights, including, (i) medical insurance represented the highest percentage (60.45%) of settlement claim cases, followed by accidence insurance (34.02%), as the complexity of medical insurance terms often leads to challenges during claim settlements; (ii) critical illness insurance claims accounted for 59.77% of total claim settlement amount; (iii) Huize’s customized critical illness series products, including Darwin, Guardian, Xiao Tao Qi, helped 1,096 families claim RMB276 million, accounting for 57% of the RMB483 million in total critical illness claims; (iv) Huize’s customer service team assisted over 180,000 senior citizens, with a growing proportion choosing to purchase insurance online through Huize’s user-friendly platform and specialized consulting services, underscored by being awarded “Outstanding Financial Services for Senior-Friendly Practices Award” from China Banking Insurance News; and (iv) Huize resolved 532 dispute cases for customers, successfully protecting their rights and securing RMB9.8 million in claims. Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “This has been a year of uncertainty, but our mission remains unwavering: to ensure protection for our customers amid these challenging times through our professional services. These recently published reports highlight our strong performance in customer service and claims settlement, with even higher satisfaction rates than last year. We are deeply grateful for the growing trust our customers place in us and are proud to have surpassed a new milestone by serving over 10 million insurance customers this year. We will continue to innovate and provide customer-first solutions going forward.” 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). 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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