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Highlights:
- Huize's 2024 report highlights significant growth in its insurance technology platform.
- Over 1.3 million families were served, with more than 12 million insurance policies facilitated.
- Claims settlements reached RMB808 million, with a notable increase in customer satisfaction rates.
Huize (NASDAQ:HUIZ), a prominent player in the insurance technology industry, operates within the rapidly expanding sector focused on leveraging technology to enhance the efficiency and accessibility of insurance services. The company's technology-driven platform aims to improve customer experiences and streamline the process of managing insurance products, from claims to policy management.
2024 Customer Service Report and Key Metrics
Huize's 2024 Customer Service Report showcases remarkable growth within the company's operations, including key advancements in its core service offerings. The platform served over 1.3 million families, processing more than 12 million insurance policies. These milestones reflect the company’s ability to scale its operations and meet the evolving needs of its customer base.
A significant achievement was the handling of 160,800 insurance claims, representing a year-over-year increase of 74.7%. The total settlements amounted to RMB808 million, marking a 41.7% increase compared to the previous year. These figures highlight Huize's growing role in managing and resolving claims for its clients.
Xiao Ma Express Claim Service
One of the standout offerings in Huize's service portfolio is the 'Xiao Ma Express Claim' feature. In 2024, this service processed 85,000 claims, totaling RMB39.37 million. The increased efficiency of this service aligns with the company’s efforts to enhance the user experience by reducing processing times and providing timely settlements.
Customer satisfaction was a notable area of achievement for Huize. Online support received a customer satisfaction rate of 98.82%, while teleservices garnered an impressive 99.51%. These figures reflect the company’s strong commitment to delivering high-quality customer service.
Insurance Claims Breakdown
The majority of insurance claims processed by Huize in 2024 were related to medical insurance, which represented 60.45% of total settlement claims. Critical illness insurance was another significant category, accounting for 59.77% of the total claim amounts. These categories reflect Huize's focus on critical areas of healthcare and wellness, meeting the needs of individuals and families facing medical challenges.
Among the notable achievements in claims management, Huize’s customized critical illness products helped over 1,000 families claim RMB276 million. This highlights the company’s ability to cater to the specific needs of customers dealing with severe health conditions, offering tailored products to address critical illness-related risks.
Support for Senior Citizens and Dispute Resolution
Huize also made strides in serving senior citizens, with over 180,000 senior clients benefiting from its services in 2024. Additionally, the company successfully resolved 532 dispute cases, securing RMB9.8 million in claims. These efforts emphasize Huize’s commitment to addressing complex issues and ensuring that customers, including vulnerable populations, receive the support they need in navigating insurance claims and disputes.
