Bihuhuzhu

About Bihuhuzhu

Bihuhuzhu, which operated under the domain bihubao.com, was a Chinese mutual aid platform developed by Beijing Bihu Technology Co., Ltd. The company was founded by Li Haibo, who leveraged his prior experience in the traditional insurance sector, including his involvement in the establishment of Huahui Life Insurance.

The platform's core business was providing mutual aid plans, a form of collective risk-sharing where members contribute to a common pool to cover health and accident-related expenses. This model positioned it within China's burgeoning insurtech and online healthcare financing market, offering an alternative to conventional insurance products. Members would join specific plans, and when a member faced a qualifying event, such as a critical illness, the costs would be shared among the entire group.

As a key development, the Bihuhuzhu platform officially ceased operations on September 10, 2022. This closure occurred amid a broader regulatory tightening and market shift that affected numerous online mutual aid platforms in China, leading to the shutdown of many prominent players in the sector.