Huize Holding Limited Partners with New China Life Insurance to Launch Innovative Annuity Product

Strategic Partnership Unveiled

Huize Holding Limited (Nasdaq: HUIZ), a prominent digital insurance product and service platform, has announced a significant collaboration with New China Life Insurance Co., Ltd. The partnership has resulted in the launch of "Bliss No. 2," a customized lifetime annuity insurance product aimed at addressing the growing demand for retirement planning solutions in China 1

1

Product Features and Benefits

"Bliss No. 2" is designed to provide policyholders with a stable source of retirement income through regular annuity payments. The product offers several key features:

1. Lifetime guaranteed annuity payments
2. Flexibility in premium payment periods (3, 5, or 10 years)
3. Options for single or joint-life coverage
4. Additional accidental death benefit

These features aim to cater to diverse customer needs and preferences in retirement planning 2

2

Market Context and Product Positioning

The launch of "Bliss No. 2" comes at a time when China is experiencing rapid population aging and increasing life expectancy. This demographic shift has led to a growing demand for long-term financial planning and stable retirement income solutions. The product is positioned to address these evolving needs in the Chinese insurance market 3

3

Huize's Strategic Approach

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, emphasized the company's commitment to product innovation and meeting customer demands. He stated, "We remain dedicated to providing our users with customized insurance solutions that cater to their evolving protection needs throughout different life stages" 1

1

Related Stories

Huize Holding Limited Reports Significant Growth in Insurance Services and AI-Powered Solutions for 2024

Huize Holding Limited Reports Strong Q3 2024 Results, Driven by AI Solutions and International Expansion

Huize Holding Limited Announces Date for Second Quarter 2024 Financial Results

Huize Holding Limited to Announce Q3 2024 Financial Results: AI-Powered Insurance Platform's Performance in Focus

Technological Integration

Huize's digital platform plays a crucial role in the distribution and management of "Bliss No. 2." The company leverages its technological capabilities to offer a seamless online experience for customers, from product information and comparison to purchase and after-sales service. This digital-first approach aligns with the increasing preference for online insurance solutions among Chinese consumers 2

2

Industry Implications

The collaboration between Huize and New China Life Insurance represents a significant development in the Chinese insurance industry. It showcases the potential for partnerships between traditional insurers and digital platforms to create innovative products that address contemporary market needs. This trend is likely to continue as the industry adapts to changing consumer preferences and demographic shifts 3

3