Huize Holding Limited (NASDAQ: HUIZ), a prominent insurance technology platform in Asia, has announced a new partnership with China Pacific Property Insurance Co., Ltd. (CPIC P&C) to launch “Little Scholar,” a tailored student accident insurance policy. Designed to offer extensive coverage for children from ages 3 to 25, this product caters to students from kindergarten through graduate school.
“Little Scholar” delivers comprehensive protection with coverage extending up to RMB500,000 for both accidents and illnesses. This ensures families can confidently start the new school year, knowing their children are safeguarded against unexpected events.
The “Little Scholar” policy includes three main features:
Broad Coverage: The plan covers accidents and illnesses both on and off school grounds, with four customizable options to suit varying family needs and budgets. It includes protection against major illnesses, covering up to 100 types of critical conditions with a maximum coverage of RMB60,000.
Enhanced Reimbursements: The policy provides favorable deductibles and higher reimbursement rates for accidents and illnesses. It also includes daily hospitalization allowances, offering more flexibility and accessibility compared to similar products.
Additional Benefits: Coverage includes ambulance fees up to RMB3,000, special subsidies of RMB5,000 for accidental fractures, and liability protection for guardians, offering up to RMB30,000 in cases where a child unintentionally causes injury or property damage to others.
Mr. Cunjun Ma, Chairman and CEO of Huize, emphasized the importance of ensuring children’s safety as the school year begins. “Given that the overall accident rate for students aged 3 to 25 is around 3%, as reported by the China Insurance Industry Accident Experience Rate Table (2021), we are introducing ‘Little Scholar’ to address modern parents’ concerns. This product merges our digital innovations with CPIC P&C’s extensive expertise, offering unmatched value and protection. Designed to include critical illness coverage and extend liability protection for guardians, ‘Little Scholar’ ensures affordable and effective insurance tailored to different age groups. This launch reflects our dedication to fostering a safer future for our younger generation.”
About China Pacific Property Insurance Co., Ltd.
China Pacific Property Insurance Co., Ltd. (CPIC P&C), a subsidiary of China Pacific Insurance (Group) Company Limited, offers a broad range of property and casualty insurance products. As a leading P&C insurer in China, CPIC P&C operates through 40 branches and over 3,100 sub-branches nationwide. In 2023, the company reported original premium income of RMB188.34 billion, marking an 11.4% year-on-year increase, and generated insurance service revenue of RMB177.13 billion, up 11.8% from the previous year.
About Huize Holding Limited
Huize Holding Limited stands out as a leading insurance technology platform in Asia, bridging consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions. Serving mass affluent consumers, Huize offers a comprehensive insurance ecosystem that spans the entire insurance lifecycle. The platform utilizes AI, data analytics, and digital capabilities to enhance insurance consultation, user engagement, marketing, risk management, and claims services, ensuring a streamlined experience for all insurance needs.
