GlobeNewswire Inc | Sep 2, 2021 06:35AM EDT

September 02, 2021

SHENZHEN, China, Sept. 02, 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 Hengqin Life Insurance Company Limited (Hengqin Life) to launch Hui Xin An No.5, a critical illness insurance product customized for meeting childrens protection needs.

There are three key product highlights of Hui Xin An No.5: (i) high value-for-money product providing additional coverage for 20 childhood diseases and 10 rare diseases and offers optional second or multiple claims protection for certain critical illnesses; (ii) a new and innovative liability waiver option for policyholders and their respective spouses; and (iii) coverage of up to RMB750,000 in insured amount for policies purchased in the first three months after product launch, allowing adequate medical treatment for severe illnesses.

Mr. Cunjun Ma, Founder, Chairman and Chief Executive Officer of Huize, commented, Given the propensity for Chinese families to invest heavily in their childrens well-being, there is tremendous market demand for childrens health insurance. However, comparing to the real needs, we believe that products currently available on the market offer relatively low amount of insurance coverage, limited disease coverage, and imperfect liability waivers. Leveraging on our strong product innovation capability, Hui Xin An No.5 is a customer-centric product designed to tackle customer pain points and match the protection needs of our users, and is in line with our long-term strategy to meet the lifetime insurance needs of our new generation consumers. Looking ahead, we will continue to drive product innovation as a way of reaching new markets and driving sustainable revenue growth.

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.

For more information, please visit http://ir.huize.com.

About Hengqin Life Insurance Company Limited

Founded in 2016, Hengqin Life Insurance Company Limited is a national life insurance company registered in Guangdong Free Trade Zone (Hengqin). The company strives to provide comprehensive and quality insurance products and services covering family needs for protection and wealth management.

For more information, please visit https://www.e-hqins.com.

For investor and media inquiries, please contact:

Investor RelationsHarriet HuInvestor Relations Director+852 3180 9207investor@huize.com

Media Relationsmediacenter@huize.com

ChristensenIn ChinaMs. Constance ZhangPhone: +86 138-1645-1798E-mail: czhang@christensenir.com

In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email: lbergkamp@ChristensenIR.com