On September 25th, the top domestic insurance e-commerce service platform, Huizhe, released its unaudited performance report for the second quarter of 2024 before the opening of the US stock market. The report showed that in the first half of the year, Huizhe's entire platform contributed a total premium of 3.05 billion yuan and a total revenue of 590 million yuan.
Data shows that during the second quarter, the cumulative number of insured users on the Huizhe platform increased to 9.8 million, with 240000 new insured users added in the quarter. On this basis, the entire platform contributed to a first-year premium of 650 million yuan, with long-term insurance business premiums accounting for 91.3%, exceeding 90% for 19 consecutive quarters. Among them, repeat customers accounted for 40.5%, an increase of 6.5 percentage points year-on-year. As of the end of June, the cumulative annual continuation rates for the 13th and 25th months of long-term insurance were both above 95%, maintaining a leading level in the industry.
Ma Cunjun, Chairman and CEO of Huize Holdings, stated that China's insurance intermediary industry is undergoing a critical stage of transformation and reshaping. At the same time, the potential of the Chinese insurance market is still enormous. With the gradual implementation of regulatory policies and increasingly clear regulatory guidance, opportunities and challenges coexist within the industry. In the context of this transformation, Huize will adhere to diversified product supply and customized product innovation, focus on serving high-quality customer groups, while continuing to expand its international layout and firmly grasp the strategic development opportunities in the global market.