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China Life Holds a Survey, Interview and Press Release on the Theme of “New Development Concepts Promoting High-Quality Development”

China Life Holds a Survey, Interview and Press Release on the Theme of “New Development Concepts Promoting High-Quality Development”

From June 26th to 28th, China Life held a survey, interview and press release event in Fujian on the topic of “Learning, Propagating and Implementing the Spirit of the 20th National Congress of the Communist Party of China – New Development Concepts Promoting High-Quality Development and the 20th Anniversary of the Life Insurance Company’s Listing”. This event is the third stop in the series of press releases of China Life Group’s “Learning, Propagating and Implementing the Spirit of the 20th National Congress of the Communist Party of China” and is undertaken by the life insurance company under the group. The event introduced China Life’s exploration, experience and achievements in promoting high-quality development with new development concepts, especially the development achievements of life insurance companies since it was listed 20 years ago. The activity also organized on-the-spot investigations at the Haixia Women and Children Activity Center in Fuzhou City, Fujian Changqing Nursing Home, and the medical insurance service window of the Putian Municipal Administrative Center to interview women’s health care projects and long-term care insurance beneficiaries, serious illness medical insurance participants, and basic medical insurance managers. Service management personnel, new business underwriting personnel, etc.

Based in Fujian, China Life Insurance Group’s Life Insurance Company, China Guangfa Bank, Property and Casualty Insurance Company and other branches in Fujian are guided by new development concepts to develop high-quality in terms of business innovation, service quality, resource efficiency, market competition, team quality, and human resources. It ranks at the forefront of the system in multiple dimensions, and helps Fujian draw a new picture of high-quality development with its own high-quality development.

Promote the digital strategy to facilitate the people and enterprises

China Life actively complies with the trend of technological development and continues to promote the digital strategy. Among them, the life insurance company under the Group has completed 100% distributed transformation of the core business system, and is the first in the industry to receive the highest level of Data Management Capability Maturity (DCMM), building the industry’s largest and most extensive new Internet of Things infrastructure. It is the first company in China to propose and build a multi-active data center, and the first company to create a safe, green, and elastic distributed hybrid cloud. It has successfully moved enterprises to the “cloud” and innovatively decoupled the huge system into nearly 15,000 standard service components. Assemble and efficiently support diversified business forms and differentiated operations. Up to now, the paperless insurance coverage rate of the company’s personal business has exceeded 99.9%, and the online service rate of security and claim settlement has remained at a high level of more than 90%. The direct payment of claims has covered more than 20,000 medical institutions across the country.

As an “innovation experimental area” within the system, China Life Insurance Fujian Branch continuously promotes the integration of technology and business. Projects such as China Life e-store, e-bao Internet platform, cloud assistant China Life store, and digital self-management system have set a precedent in the industry and promoted Traditional business and service models have entered the era of digital intelligence. Taking the Jinjiang branch of China Life Insurance as an example, it connects policy services to multi-platform smart terminals by promoting the use of digital means such as official WeChat account, China Life Insurance APP, China Life e-counter, paperless insurance application, and “air customer service”. , use diversified “E-based services” to divert customers, greatly reduce the waiting time of customers, and realize one-stop handheld insurance policy service anytime, anywhere, and at your fingertips. The average waiting time of customers at the counter is shortened from the original 46 minutes and 41 seconds to The current time is 4 minutes and 31 seconds, and it shows a decreasing trend.

Not only that, China Life Insurance Jinjiang Branch also focuses on solving the “last mile” problem of customer service, constantly innovating and extending counter services, especially covering the integrated terminal configuration of counters to 13 township outlets in 6 streets under its jurisdiction, and Coordinating and delegating more than 30 security service authorities to outlets, together with nearly 2,300 local salesmen and a grid-based service system, the tentacles of customer service have been continuously extended, realizing “there are outlets in every town, specialists in every village, and services in around”.

China Guangfa Bank, a member unit of China Life Group, also focuses on customers’ needs for digital innovation services, leading the industry to explore Internet + cross-border financial services, applying blockchain, big data and other technologies under the premise of business authenticity and compliance, and relying on customs and foreign exchange bureaus , taxation and other third-party data, and is committed to gradually realizing the online process of cross-border settlement and financing business, and launched the “cross-border instant communication” business brand, which leads the industry in instant “fastness” and effectively supports cross-border financial facilitation. In 2022, the transaction volume of China Guangfa Bank’s cross-border instant communication is equivalent to more than 270 billion yuan.

Green Finance Guards “Green Treasure”

Fujian Province has excellent ecological quality, and its forest coverage rate has maintained the first place in the country for 44 consecutive years. It is the most important carbon-rich area in my country and the first national ecological civilization pilot area. In order to protect this “green treasure”, China Life has innovated and researched corresponding insurance products in response to various ecological and environmental hidden dangers, injected financial vitality into the optimization of the ecological environment with practical actions, and strived to protect Fujian’s ecological beauty.

In February 2023, the first domestic marine ecological vegetation treatment insurance (specially used for the prevention and control of Spartina alterniflora) was piloted in Fuding City, Ningde, Fujian Province, providing 10 million yuan of risk protection for ecological vegetation in 10,000 mu of sea area in Fuding City. This is another green insurance product launched by the property insurance company under China Life Group around “green development” and “double carbon”. Spartina alterniflora is a serious invasive alien species in my country’s coastal areas, seriously threatening the biodiversity and ecosystem security of coastal wetlands. In order to assist the campaign against Spartina alterniflora and strengthen the risk management of marine ecological vegetation, Fujian Branch of China Life Insurance Co., Ltd., together with the local government, boldly innovated marine ecological vegetation rescue insurance, which directly caused damage to the invasion and reproduction of Spartina alterniflora. Insurance protection is provided for situations where marine ecological vegetation cannot grow normally and needs to be protected and treated. The indemnity can be used for expenses such as mowing, artificial deep plowing, mulching, flooding, and vegetation replanting, providing a powerful source of protection for the prevention and improvement of marine vegetation ecological functions. Assure.

In the past three years, China Life Insurance Fujian Branch has taken the lead in launching forestry carbon sink index insurance, agricultural carbon sink insurance, mangrove blue carbon ecological protection insurance, wetland biodiversity protection insurance, and fresh air green insurance. Taking forestry carbon sink index insurance as an example, it successfully solved the problem of forestry carbon sequestration capacity measurement and risk correlation, indexed the “invisible and intangible” carbon sequestration loss, and filled the gap in the industry. Up to now, the insurance has been gradually extended to 10 provinces including Guangxi, Guangdong, Yunnan, and Gansu, and has provided a cumulative carbon sink risk protection of over 100 million yuan.

Inclusive finance improves people’s livelihood and well-being

Husbands govern the country often, but benefiting the people is the foundation. To follow the path of high-quality development, we must adhere to the people-centered development philosophy and unswervingly improve people’s livelihood and well-being. As a central financial enterprise, while pursuing its own high-quality development, China Life has always insisted on developing inclusive finance, so that more people can enjoy the dividends of high-quality development.

The life insurance company of China Life Group provides urban and rural residents with critical illness medical insurance, long-term care insurance, urban customized commercial medical insurance, tax-deferred endowment insurance, exclusive commercial endowment insurance, as well as health insurance with relatively low premium or amount of insurance, accidental injury insurance, etc. , to provide a variety of inclusive insurance protection. Taking long-term care insurance as an example, the company currently undertakes nearly 60 long-term care insurance projects, covering more than 33 million people. In Fuzhou, the second batch of national long-term care insurance pilot cities, the market share of China Life Insurance Fuzhou Branch ranks first among the 10 management units. The three long-term care insurance service centers currently in operation have accepted nearly 1,800 insurance applications. There are more than 1,860 contracted nursing insured persons, more than 12,100 nursing services provided, the accumulative payment of long-term care insurance funds is about 13.46 million yuan, the cumulative number of insured participants exceeds 1,965, and 435 qualified nursing staff are trained. The number of long-term care insurance settlements and settlement The total amount ranks No. 1 among all the management offices in Fuzhou City.

China Life Property & Casualty Insurance Co., Ltd. accelerates the supply of inclusive financial services for groups such as “agriculture, rural areas and farmers”, small and medium-sized enterprises, and urban and rural residents, continues to promote rural revitalization, and alleviates the difficulties of “difficult and expensive financing” for small and medium-sized enterprises. Taking Fujian as an example, China Life Property & Casualty Insurance Fujian Branch has provided nearly 60 local exclusive products to provide risk protection of more than 4 billion yuan for over 10,000 farmers and paid nearly 70 million yuan in compensation. As of the end of May, the inclusive agriculture-related balance of Fuzhou Branch was 370 million yuan.

In addition, China Life continues to increase inclusive insurance protection for specific risk groups such as the elderly, women, children and new citizens. Taking Putian, Fujian as an example, in 2022, the Putian branch of China Life Insurance will have 13,400 women, 67,700 elderly people over 80 years old, 65,800 family planning families, 491 parents of special family planning families, 1,688 people out of poverty, and 5,785 newcomers. Employment form Practitioners have provided inclusive insurance protection, and have successively handled projects such as serious illness insurance for urban and rural residents in Putian City, accidental injury medical insurance for urban and rural residents, large-amount supplementary insurance for employees in Putian City, civil servant nursing allowance insurance and basic medical insurance, etc., to help the government Construct a multiple medical security system of “basic medical insurance + serious illness medical insurance + medical assistance”.

In the press release on June 26, Zhao Guodong, assistant president of China Life Insurance Company, also introduced the progress made by China Life Insurance Group’s life insurance company in the past 20 years with detailed data: premium income increased from 135.054 billion yuan to 615.190 billion yuan; The value increased from 90.073 billion yuan to 1,230.519 billion yuan; the number of served customers increased from 250 million to over 500 million; the annual claim amount increased from 2.8 billion yuan to 51.5 billion yuan, and the winning rate increased from 97.50% to 99.65%; investment Total assets increased from 280.568 billion yuan to 5.06498 billion yuan, etc., and stated that China Life will continue to focus on major national strategies, implement the concept of inclusive finance, serve the social governance system, focus on sustainable operations, adhere to insurance fundamentals, and stick to the bottom line of financial risks. Accelerate quality change, efficiency change, power change, promote high-quality development, and escort Chinese-style modernization.

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