SHENZHEN, China - Huize Holding Limited (NASDAQ: HUIZ), a prominent insurance technology platform in China, has announced a partnership with Ruihua Health Assurance Corporation to introduce a new critical illness insurance product, Darwin Critical Care No.9.
This latest offering in the Darwin Critical Care series, which began in 2018, aims to provide comprehensive coverage, including for 108 critical, 35 moderate, and 40 mild illnesses.
Darwin Critical Care No.9 is noted for its cost-effectiveness and broad coverage options. The plan starts with an annual premium of RMB 202.5 and allows first claim eligibility for severe illnesses up to the age of 65.
It also features an innovative benefit: additional payouts upon the first diagnosis of a severe illness, matching the sum of premiums paid. The policy allows for up to seven claims for mild-to-moderate illnesses and includes optional benefits for multiple critical illnesses and supplemental coverage for certain cancers and cardiovascular diseases.
Cunjun Ma, Founder, Chairman, and CEO of Huize, expressed enthusiasm for the new product, highlighting the additional benefit payouts as a reflection of the company's commitment to addressing customer needs. Huize leverages customer insights, data analytics, and product innovation to develop customized products for life-long protection needs.
Ruihua Health Assurance Corporation, established in 2018, is a professional health insurance company with a registered capital of RMB 500 million. It focuses on integrating commercial health insurance with health management services, catering to the medical, healthcare, retirement, and nursing care requirements of citizens.
The information for this article is based on a press release statement.
InvestingPro Insights
In the face of Huize Holding Limited's (NASDAQ: HUIZ) recent collaboration to expand their critical illness insurance offerings, the company's financial health and market performance are of keen interest to investors. Current data from InvestingPro shows that HUIZ is trading at a notably low earnings multiple, with a P/E Ratio of just 3.1, which may attract investors looking for undervalued stocks. Additionally, the company has a Price / Book value of 0.55 as of the last twelve months leading up to Q4 2023, indicating that the stock may be trading below its net asset value.
Despite the introduction of innovative insurance products, analysts are predicting a sales decline in the current year, and a potential drop in net income. This sentiment is reflected in the company's stock price performance, which has seen a significant decline over various timeframes, including a 52.67% drop over the past year and a 23.46% fall in the last three months. These trends highlight the high price volatility that HUIZ generally trades with.
For investors considering HUIZ, it is worth noting that the company does not pay a dividend, which could be a factor for those seeking regular income from their investments. Meanwhile, those interested in a deeper analysis of Huize Holding Limited can explore additional InvestingPro Tips, which offer insights into the company's profitability prospects. As of now, there are 13 more tips available on InvestingPro. For those looking to take advantage of these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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