The entry-level platform dispute in the field of Internet insurance
was informed that the Internet insurance service platform Huixu Insurance (hereinafter referred to as “Huize”) officially submitted the prospectus to the US Securities and Exchange Commission (SEC) on the evening of September 4th, Beijing time. , the planned transaction code is “HUIZ.” The number and pricing range of the depositary offerings for this offering will be determined in the future. Morgan Stanley, Citigroup Global Markets Limited and China International Capital Corporation Hong Kong Securities Limited are joint underwriters for the offering.
Huazhi was established in 2006 and is positioned as online long-term insurance products and services platform. Smart Select provides customers with services such as product recommendation, consulting, smart underwriting, assistance claims and claims, and on the other hand, Wisdom also exports technical and data capabilities to provide products for insurance partners. Development, smart underwriting and risk management solutions.
As of June 30, 2019, Huixuan has served a total of 5.8 million policyholders and 47.3 million insured persons, and cooperated with more than 100 insurance institutions nationwide, of which 67 are insurance companies. The platform provides users with more than 1,000 insurance products covering health insurance, life insurance, accident insurance, travel insurance, corporate insurance and other insurance types.
With the migration of insurance purchasers, the generation after the 80-90 became the main purchaser, and the demand for health insurance has been further swayed into the outbreak. In the past two years, the popularity of online Internet platforms has grown rapidly, and more and more users are able to make decisions online, and the decision cycle is shortened. The main group of Wisdom is also a young generation of customers, targeting their long-term insurance needs. According toStocks, as of the first half of 2019, the average age of insurance customers who purchased life insurance and health insurance through the platform was 32 years old, and individual policyholders held an average of 2.6 insurance policies.
From the development process of Huizhi, Hua Cai first started from the scene risk, Launched personal accident insurance for the cycling crowd, accumulated the first batch of users, and then launched the travel insurance and other types of insurance, and gradually established a closed loop of services, including policy preservation, policy changes, after-sales claims and other links. In addition, from the personal insurance sales platform, Huixuan gradually launched the corporate insurance business line, and extended from the channel to the product to achieve C2B product customization.
In recent years, the growth rate of China’s insurance industry has exceeded 20%, and the ecological development of insurance technology is changing with each passing day. From the development process of Huixuan, we can see that under the general trend of separation of production and sales, the division of labor between insurance companies and insurance platforms will become more and more detailed. How will the next phase of the battle for entry-level platforms in the Internet insurance industry evolve?