10 years in a row! New China Insurance ranks among the “Top 100 Most Valuable Insurance Brands in the World”!
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Recently, Brand Finance, the world’s leading brand rating agency, released the “Top 100 Most Valuable Insurance Brands in the World in 2024”. Relying on its steady business development and good brand reputation, New China Insurance has entered the top 50 on the list for 10 consecutive years, ranking 34th.
In 2023, Xinhua Insurance serves the national strategy, with an investment balance of over 240 billion yuan, a year-on-year growth of 19.68%; it provides claims services for 4.4 million people, with a total compensation of 15.9 billion yuan throughout the year; there are about 470,000 AI intelligent claims cases, with a compensation amount of 9 billion.
As of the end of the third quarter of 2023, New China Insurance’s total assets exceeded 1.3 trillion yuan; original insurance premium income reached 142.911 billion yuan, a year-on-year increase of 3.7%; net profit attributable to shareholders of the parent company was 9.542 billion yuan; comprehensive solvency adequacy ratio and core solvency ratio The capacity adequacy rates are 240% and 146% respectively, ranking among the top in the industry.
New China Insurance has been among the top 500 of Fortune’s Fortune Global 500 and Forbes’ Top 2000 Global List of Public Companies for many consecutive years, and its brand influence continues to increase.
Serving national strategies and fulfilling insurance company responsibilities
As a state-owned financial enterprise, New China Insurance has always conscientiously implemented the major decisions and arrangements of the Party Central Committee, implemented the political and people-oriented nature of financial work with practical actions, supported the construction of key national areas, and will help the development of new productive forces and achieve its own high-quality development. combine. As of the end of December 2023, it serves the national strategy with an investment balance of over 240 billion yuan; supports high-tech development with an investment balance of approximately 25.8 billion yuan; actively responds to the aging of the population, with an annuity scale exceeding 24 billion yuan, and more than 4,800 health care collaboration qualification letters have been signed. shares; invested more than 20 million yuan in targeted assistance; and the accumulated insurance coverage donated to care for sanitation workers exceeded 500 billion yuan… A series of figures confirm Xinhua Insurance’s firm steps in serving the national strategy in recent years, and also highlight the company’s Always adhere to the responsibility of “the great country”.
In recent years, New China Insurance has actively fulfilled its social responsibilities during many major emergencies. In 2023, the company responded to a total of 86 major disasters and accidents, and actively participated in disaster relief and post-disaster reconstruction work. Through the Xinhua Life Insurance Charity Foundation, it donated 1 million yuan in cash to the China Charity Federation to assist the earthquake-stricken areas in Gansu and Qinghai, giving full play to its role as a social “stabilizer”.
Sufficient solvency, sustained and steady development
Solvency is one of the key indicators to measure the financial status of an insurance company. It ensures that the company has sufficient economic compensation capabilities when facing debts, protects the interests of the insured or policyholders, and maintains the normal operation of the national economy and social stability.
Xinhua Insurance adheres to the concept of sustained and steady development and strengthens risk management. As of the end of the third quarter of 2023, New China Insurance’s comprehensive solvency adequacy ratio and core solvency adequacy ratio were 240% and 146% respectively, which are far higher than the minimum standards required by regulatory requirements and ranked among the forefront compared with peer companies.
Technology-enabled services improve customer experience
Xinhua Insurance uses technology to empower it to create a full-process intelligent claims service system to speed up claims settlement. In 2023, Xinhua Insurance’s real-time payment scope for personal claims will be expanded to all businesses with a total amount of less than 10,000 yuan, and more than 80% of the cases will be paid in real time after the case is closed. The company also provides special services such as direct connection and direct payment of claims, early compensation for serious illnesses, and medical advance payment services, so that customers can experience the “acceleration” of claims settlement and feel the “heating up” of services.
In 2023, Xinhua Insurance provided claims services to 4.4 million people, with an average of 12,100 claims per day, a year-on-year increase of more than 40%; the cumulative compensation for the year was 15.9 billion yuan, with an average daily compensation of 43.78 million yuan, a year-on-year increase of nearly 18%; including critical illness The number of insurance compensation cases was 70,000, and the compensation amount was 5.9 billion yuan. The annual premium exemption amounted to RMB 960 million, and more than 20,000 policies were covered without payment.
Deliver the voice of Xinhua and tell the story of Xinhua
In recent years, Xinhua Insurance has actively built an all-media communication system to spread Xinhua’s positive energy and convey Xinhua’s good voice, and its brand communication has become increasingly popular. At present, the company’s official new media matrix has covered multiple mainstream platforms such as WeChat, Toutiao, Douyin, video accounts, Weibo, etc., with an annual reading/viewing volume of nearly 10 million.
Xinhua Insurance focuses on high-quality development in content construction, and carries out brand columns such as “Serving the National Strategy”, “Consumer Protection”, “Awards and Honors”, “Claims Services” and “Elderly Care in Xinhua”, and has unearthed a large number of high-quality story materials and fully Utilize the superior resources of each platform for unified planning and diversified publishing to achieve the content integration and complementary advantages of traditional media and new media, and create a good public opinion environment for the company’s development.
About Brand Finance
Brand Finance is a world-leading brand value assessment and strategy consulting company with branches in nearly 30 countries around the world. Every year, it independently evaluates thousands of well-known brands around the world based on public data, and is influential and authoritative in brand value research around the world.
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