Huize partners with CPIC P&C to launch “Little Scholar” – a tailor-made student accident insurance product Page 1

SHENZHEN, China, Aug. 22, 2024 (GLOBE NEWSWIRE) — Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform that digitally connects consumers, insurance companies and distribution partners through data-driven and AI-powered solutions in Asia, today announced that it has partnered with China Pacific Property Insurance Co., Ltd. (“CPIC P&C”) to launch “Little Scholar”, a tailor-made accident insurance product for students. This product is designed to provide parents with comprehensive coverage for their children aged 3 to 25, from kindergarten to high school. “Little Scholar” offers up to RMB500,000 in protection for both accidents and illnesses, giving families peace of mind as their children start the new school year.

“Little Scholar” offers three different offerings: i) Comprehensive Off-School Coverage, which protects against both accidents and illnesses through four customizable plans, ensuring the flexibility needed to meet the diverse needs and financial situations of families. This coverage also extends to critical illnesses, covering up to 100 types of critical illnesses for a maximum coverage of RMB 60,000; ii) Favorable Deductibles and Reimbursement Rates, which offer higher reimbursements due to accidents or illnesses. Daily hospitalization fees are also included, making the policy more flexible and accessible than similar products; and iii) Additional Benefits, including Ambulance Expense Coverage with up to RMB 3,000 reimbursed for emergency care, special subsidies of RMB 5,000 for accidental fractures, and Guardian Liability Coverage, which provides up to RMB 30,000 in protection in cases where a child unintentionally causes injury or property damage to a third party.

Mr. Cunjun Ma, Chairman and CEO of Huize, commented: “As the new school year begins, protecting the well-being of our children becomes paramount and remains at the core of every parent’s concerns. According to the China Insurance Industry Accident Experience Rate Table (2021), the overall accident rate for students aged 3 to 25 is around 3%. In response to the needs of today’s parents and driven by our unwavering commitment to the health and safety of students, we are proud to introduce ‘Little Scholar’. This tailor-made product combines our innovative digital approach with CPIC P&C’s extensive industry experience to provide unparalleled value and protection to our customers. Thoughtfully designed, ‘Little Scholar’ extends coverage to critical illnesses and expands liability protection for guardians. In addition, premiums are tailored to the different risk levels of different age groups to ensure the most affordable and effective protection for the younger generation. ‘Little Scholar’ is a testament to our commitment to creating a safer, better future for the next generation.”