Huize launches “PrimeMed,” a flexible mid-tier medical insurance product in collaboration with CCIC and MSH CHINA, enhancing healthcare access.
Quiver AI Summary
Huize Holding Limited has launched a new customized mid-tier medical insurance product called "PrimeMed," developed in collaboration with China Continent Property & Casualty Insurance Co., Ltd. and MSH CHINA Enterprise Services Co., Ltd. This product aims to provide affordable and flexible healthcare coverage, particularly for high-cost medical resources and specialized care. Key features of "PrimeMed" include flexible deductibles, children's coverage for parents, a relative deductible scheme that offsets costs with other insurance sources, and competitive premiums starting from RMB958. The product caters to the growing demand for comprehensive medical care, offering broader protection that includes access to imported drugs and complex surgeries, in response to a shifting focus toward higher-quality healthcare solutions in China. Huize's CEO emphasized the company's commitment to addressing healthcare gaps and innovating insurance products that meet evolving customer needs.
Potential Positives
- Launch of “PrimeMed,” a new customized mid-tier medical insurance product, demonstrates Huize's commitment to innovation in the insurance sector.
- Partnership with established firms, CCIC and MSH CHINA, enhances credibility and market reach of the new insurance offering.
- “PrimeMed” addresses a critical need for comprehensive and affordable healthcare coverage, appealing to the growing consumer demand for better medical services.
- Flexible features such as various deductible options and family coverage demonstrate a consumer-centric approach, likely to attract a broader customer base.
Potential Negatives
- Despite the introduction of “PrimeMed,” the press release does not provide any information on the expected market performance or competitive positioning of this new product, leaving uncertainty about its potential impact on sales and profitability.
- The announcement highlights a collaboration with specific partners, but does not contain any information on how Huize plans to differentiate “PrimeMed” from existing insurance products in a potentially saturated market.
- There are no disclosed projections or metrics that measure the success of “PrimeMed,” which might raise concerns about its viability and the company's strategy moving forward.
FAQ
What is PrimeMed?
PrimeMed is a customized mid-tier medical insurance product launched by Huize, addressing the need for affordable and flexible healthcare coverage.
Who developed PrimeMed?
PrimeMed was developed by Huize in collaboration with China Continent Property & Casualty Insurance Co., Ltd. and MSH CHINA Enterprise Services Co., Ltd.
What are the key features of PrimeMed?
Key features include flexible deductibles, children's coverage, a relative deductible scheme, and affordable premiums starting from RMB958.
How does PrimeMed improve healthcare access?
PrimeMed offers access to high-cost medical resources and multiple hospital types, ensuring broader protection for individuals and families.
Who is the target audience for PrimeMed?
PrimeMed targets mass affluent consumers seeking higher-quality healthcare at an affordable price, filling gaps in traditional insurance products.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HUIZ Hedge Fund Activity
We have seen 2 institutional investors add shares of $HUIZ stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CITADEL ADVISORS LLC added 16,337 shares (+inf%) to their portfolio in Q3 2024, for an estimated $12,559
- UBS GROUP AG added 4,490 shares (+1943.7%) to their portfolio in Q3 2024, for an estimated $3,451
- QUBE RESEARCH & TECHNOLOGIES LTD removed 42 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $32
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SHENZHEN, China, Jan. 16, 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 announced the launch of “PrimeMed”, a customized mid-tier medical insurance product, in collaboration with China Continent Property & Casualty Insurance Co., Ltd. (CCIC) and MSH CHINA Enterprise Services Co., Ltd. (MSH CHINA). Designed to provide scarce, high-cost medical resources such as specialized and international departments in public hospitals and designated private medical institutions, this new solution addresses the need for flexible and affordable insurance coverage.
“PrimeMed”’s key features include:
Flexible deductibles: three plan options are offered, including zero or low shared deductibles, making inpatient services across different medical institutions more accessible while streamlining enrollment and claims processing.
Children’s coverage: allows parents to insure children under 18, expanding protection options for the family.
Relative deductible scheme: enables compensation from other sources (such as public health insurance) to offset deductibles, improving the accessibility of benefits.
Affordable premiums: annual premiums start from RMB958 for the primary age group, with options to add accident outpatient emergency coverage and receive family package discounts.
With these innovative and flexible features, “PrimeMed” offers premium healthcare services at a price point designed to appeal to consumers seeking an affordable upgrade from traditional million-yuan medical insurance products.
Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “As public awareness and spending on mid-to-high level medical care services continue to grow, we developed ‘PrimeMed’ to meet a critical need for comprehensive coverage. The product provides access to multiple hospital types and departments, as well as out-of-hospital medications and imported medical devices expenses, ensuring broader protection for individuals and families seeking higher-quality healthcare. Our partner MSH CHINA, a high-end health insurance service provider, strengthens the product offering with their extensive hospital network across top-tier Chinese hospitals and established billing relationships, ensuring seamless access to premium medical care. Additionally, in line with the government’s initiative for the differentiated development of basic medical insurance and commercial insurance, ‘PrimeMed’ provides a personalized upgrade in commercial medical care, extending coverage to areas that basic insurance often does not reach—such as imported drugs, specialized medical devices and complex surgeries. This solution exemplifies our commitment to addressing gaps in the healthcare system and developing innovative insurance solutions that cater to the evolving needs of our customers, contributing to better healthcare outcomes.”
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.
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http://ir.huize.com
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https://www.linkedin.com/company/huize-holding-limited
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About MSH CHINA Enterprise Services Co., Ltd.
Founded in 2001, MSH China serves as the Asia-Pacific headquarters of MSH INTERNATIONAL. With offices in major cities including Shanghai, Beijing, Guangzhou, Shenzhen, and Chengdu, MSH China provides premium health insurance solutions to both corporate and individual clients. The company has a professional team of nearly 500 employees, with over 70 specialists holding medical backgrounds, offering services in more than ten languages, including Chinese, English, and French. As part of MSH INTERNATIONAL, a global leader in international health insurance, MSH China is committed to delivering innovative, high-quality health services to clients across China and the Asia-Pacific region.
For more information, please visit:
https://www.mshasia.com/
About
China Continent Property & Casualty Insurance Co., Ltd.
Founded in 2003, China Continent Property & Casualty Insurance Co., Ltd. (CCIC) is a national property & casualty insurance company, fully owned by China Re Group (stock code: 1508.HK), the only state-owned reinsurance group in China. The company operates 39 branches and more than 2,100 sub-branches nationwide, with nearly 46,000 employees.
For more information, please visit:
http://www.ccic-net.com.cn/en/
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
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