Skip to main content

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

Written by Customer Service on . Posted in Public Companies.

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 Relations
Kenny Lo
Investor Relations Manager
investor@huize.com

Media Relations
mediacenter@huize.com

Christensen
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
Email: dee.wang@christensencomms.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.