Huize Holding Limited (NASDAQ:HUIZ) Q1 2023 Earnings Call Transcript

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So that new business side has picked up momentum. And with the new offline coverage, this will further accelerate the connectivity that we have, the local regions where the local agents can also have the local presence with our platform, therefore, be able to service the local region customers more effectively. So that will be the second point on the offline – online-to-offline strategy. So I think overall, we have always been trying to leverage on our online presence from a product supply standpoint, from a services standpoint and from an overall branding perspective to empower all the agents – the in-house agents that we have on our To-C segment – to our To-B, To-C segment, which includes the third-party channel partners, the KOLs and the wealth managing channels and now the To-A, To-C channels, which are the independent agents over the country are now realizing the synergies that they can extract from working appraiser as a platform provider, and we’ve seen that translating into the growth momentum into our top line results, as we have shown in the last five quarters since the start of 2022.

So that will be my answer to your first question. On your second question on the ecosystem approach whether we want to improve not just from an insurance standpoint, but also providing other services like healthcare and elder care. We’ve actually already been investing in this regard. We have been quietly investing in our own healthcare services platform. We’ve actually have been trial testing this healthcare platform internally. And we will be rolling this out probably when it’s mature in the second half of the year to provide healthcare services, which are higher frequency in nature and also will be allowing us to further extract a share from our existing customer base and also improve our knowledge and insights into our customers as they consume these healthcare products.

Another point on the healthcare services segment is that we are also now expanding into Hong Kong. And also potentially in the next 3 years, we’re also looking at Southeast Asia expansion. So with the healthcare elements, I think we are also able to derive synergies from Mainland Chinese customer base perspective, with Hong Kong product providers and to provide that linkage to facilitate the MCV business in the near future. So I think that will be another exciting growth prospects for Huize as a whole, and we will look to provide further information on this business line as it becomes more scalable. Thank you.

Operator: Thank you. Dear Speakers, there are no further questions at this time. And I would like to hand the conference over to our management team for any closing remarks.

Harriet Hu: Thank you, operator. So on behalf of the Huize’s management team, we would like to thank you for your participation in today’s call. And if you require any further information, please still to reach out to the IR team and thank you for joining us today. This concludes the call.

Kwok Tam: Thank you everyone.

Operator: That concludes our conference for today. Thank you for your participating, you may now all disconnect.

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