SHENZHEN, China, June 07, 2024 (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 China, today announced that it has partnered with PICC Property and Casualty Company Limited (“PICC P&C”) to launch “WarmTreasure No.3,” a customized child outpatient and emergency insurance product in the “WarmTreasure” series. With optimized reimbursement, expanded coverage and additional benefits, the upgraded version delivers enhanced cost-effectiveness and product value to families with children.

“WarmTreasure No.3” is distinguished by four key features: i) expandable reimbursement for self-paid drugs and reimbursement of up to 100% for medical expenses covered by China’s social insurance system; ii) combined benefits of up to RMB80,000 for child outpatient, emergency treatment and hospitalization with a zero-deductible policy for hospitalization charges; iii) expanded coverage for 21 critical illnesses with insured coverage up to RMB100,000; and iv) additional benefits including coverage for cosmetic skin sutures and dental trauma resulting from accidents as well as parental liability.

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “As the number of children being hospitalized and receiving outpatient care increases in the recent infectious disease season, we are pleased to partner with PICC P&C to launch the latest product in our WarmTreasure series which offers more comprehensive and cost-effective coverage for families with children, and further diversifies our product offerings matrix. Going forward, we will continue to leverage our deep customer insights and ability to innovate to roll out new and upgraded insurance products that meet the evolving needs of our customers and maximize customer lifetime value while generating incremental shareholder value.”

About PICC Property and Casualty Company Limited

Founded in 2003, PICC Property and Casualty Company Limited (“PICC P&C”, HKEX: 2328) is a subsidiary of the People’s Insurance Company of China. As the largest property and casualty Company in China, PICC P&C provides a wide array of insurance products including property damage insurance, liability insurance, credit insurance, personal accident insurance and short-term health insurance, among others. As of the end of 2023, its total assets were RMB703.6 billion. PICC P&C operates in almost all urban and rural areas in China with overseas business spanning across 134 countries and regions.