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

Huize's Impressive Growth in 2024

Huize Holding Limited, a leading insurance technology platform in Asia, has released its 2024 Customer Service Report and "Xiao Ma Claim" Service Annual Review, showcasing remarkable growth and efficiency in its AI-powered insurance services 1

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. The NASDAQ-listed company (HUIZ) has demonstrated significant expansion in its customer base and service offerings throughout the year.

Key Performance Indicators

In 2024, Huize served over 1.3 million families and facilitated more than 12 million insurance policies 1

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. The company processed 160,800 insurance claims, marking a 74.7% increase compared to 2023 2

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. The total amount of claims settled reached RMB808 million, representing a 41.7% year-over-year growth 1

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AI-Powered "Xiao Ma Express Claim" Service

Huize's innovative "Xiao Ma Express Claim" service, which utilizes AI to settle and pay out small claims within one business day, handled 85,000 claims in 2024 2

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. The total amount settled through this service reached RMB39.37 million, showing increases of 66.6% in claim volume and 63.4% in settlement amount compared to the previous year 1

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Customer Satisfaction and Service Efficiency

The company maintained high customer satisfaction rates, achieving 98.82% for online customer support and 99.51% for teleservices 2

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. Huize's customer service team provided 310,000 teleservices, totaling 33,000 consultation hours 1

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. The "Xiao Ma Claim" service demonstrated exceptional efficiency with a 91.15% one-time resolution rate and a 99.9% online response rate 2

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Insurance Product Insights

Medical insurance represented the highest percentage (60.45%) of settlement claim cases, followed by accident insurance (34.02%) 1

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. Critical illness insurance claims accounted for 59.77% of the total claim settlement amount 2

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. Huize's customized critical illness products, including Darwin, Guardian, and Xiao Tao Qi, helped 1,096 families claim RMB276 million, representing 57% of the total critical illness claims 1

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Focus on Senior Citizens and Dispute Resolution

Huize's customer service team assisted over 180,000 senior citizens, with an increasing number choosing to purchase insurance online through the company's user-friendly platform 2

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. The company's efforts in this area were recognized with the "Outstanding Financial Services for Senior-Friendly Practices Award" from China Banking Insurance News 1

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. Additionally, Huize resolved 532 dispute cases for customers, securing RMB9.8 million in claims 2

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Future Outlook

Mr. Cunjun Ma, Chairman and CEO of Huize, emphasized the company's commitment to innovation and customer-first solutions 1

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. Despite the year's uncertainties, Huize remains focused on ensuring protection for its customers through professional services and AI-powered solutions 2

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. The company's success in surpassing 10 million insurance customers in 2024 marks a significant milestone in its growth trajectory 1

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