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China Life Insurance Company won multiple awards in the “Shanghai Securities Financial Management” competition

China Life Insurance Company won multiple awards in the “Shanghai Securities Financial Management” competition


Recently, the results of the 2023 “Golden Financial Management” competition sponsored by the Shanghai Securities News were announced. China Life Insurance Co., Ltd. (hereinafter referred to as “China Life Insurance Company”) won the Annual Insurance Protection Brand Award, the Annual Insurance Service Award, and the Annual Protection Insurance Product Awarded three major awards.

Shanghai Securities News invites the most influential expert think tanks in the industry to help, and is committed to finding outstanding investment institutions, excellent investment management teams, excellent products and excellent services in the banking, insurance and asset management industries for the market. The selection has received great attention in the industry. Winning multiple awards this time also highlights the recognition by industry experts that China Life Insurance Company adheres to the core development philosophy of “insurance is for the people and insurance is for the people” and insists on high-quality development.

  Play the leading role

Leading the high-quality development of the industry

China Life Insurance Company has always focused on serving the overall development of the country, adhered to the origin of insurance, insisted on making progress while maintaining stability, served the real economy, strictly adhered to the bottom line of risks, and took it as its own responsibility to play a leading role and lead the high-quality development of the industry.

Actively participate in the construction of social security network and continue to improve our ability to serve the real economy. As of June 30, 2023, China Life Insurance Company has undertaken more than 200 critical illness insurance projects, covering nearly 350 million people, reducing the medical burden by more than 25 billion yuan, and investing a total of more than 3.8 trillion yuan in the real economy. The insurance business and investment scale related to rural revitalization have achieved rapid growth. MSCI’s ESG rating has been upgraded to BBB level, and it has always been in the leading echelon of the domestic life insurance industry.

By adhering to high-quality development, our operating strength has reached a new level. From the perspective of “volume”, since 2020, China Life Insurance Company’s operating income has continued to stabilize at more than 800 billion yuan. As of November 2023, total premiums have exceeded 600 billion yuan, and total assets have exceeded 5 trillion yuan; from the perspective of “efficiency” , since the company’s share reform and listing, the embedded value has increased for 11 consecutive years, and the new business value has continued to lead the industry; from a “quality” perspective, the solvency adequacy ratio has always remained above 140% in the first three quarters of 2023, and it has been in the regulatory risk comprehensive rating for 22 consecutive years. Maintained Class A rating for every quarter.

Over the years, China Life Insurance Company has unswervingly followed the path of financial development with Chinese characteristics, and has been awarded the A-level operating evaluation of insurance company legal entities by the China Insurance Industry Association for eight consecutive years. In 2023, China Life Insurance (Group) Company, with the company as its core, ranked 54th among the Fortune Global 500. In the 2023 “China’s 500 Most Valuable Brands” list released by the World Brand Laboratory, the brand value With a total value of RMB 485.567 billion, it continues to rank first in the insurance industry and leads the industry in brand value.

  Adhere to customer-centricity

Create a “simple, quality and warm” service experience

Focusing on customer-centricity, China Life Insurance Company actively creates a “simple, quality and warm” service experience.

Create a digital experience around the entire policy life cycle. China Life Insurance Company has built an online service chain covering the entire life cycle of policies to meet customers’ demands for all types of policy services. In 2023, more than 100 million policy services will be processed online, accounting for 93% of all policy services. China Life Insurance APP users have exceeded 140 million, and the average number of monthly active users has exceeded 10 million. The average claims settlement timeliness reached 0.39 days, a year-on-year increase of 17%. The direct payment service achieved second-level compensation, and the average claims settlement timeliness for small-sum cases was 0.12 days, which is at the advanced level in the industry.

Create warm and inclusive services from multiple angles to enhance customers’ sense of gain. China Life Insurance Company actively responds to the “Healthy China” strategy, continues to pay attention to customer health, and builds an “online + offline” health promotion service system covering four major sectors: youth health, senior health care, scientific sports, and home sports. Create a special service to improve immunity, launch a series of live lectures “Listen to Experts Talk about Immunity”, and invite experts from tertiary hospitals to explain topics such as protection against common diseases, sub-health conditioning, and traditional Chinese medicine health conditioning. The cumulative number of participants in 2023 will exceed 5 million.

We will improve the consumer rights protection system and protect customer rights in all aspects. China Life Insurance Company continues to strengthen the main responsibility of consumer protection work, taking the protection of consumer rights as a concrete manifestation of the company’s political, people-oriented and professional nature, building a “big consumer protection” pattern, strengthening the construction of consumer protection systems and mechanisms, online and offline We have carried out extensive popularization of knowledge on public welfare finance and insurance to improve customers’ financial literacy, and the regulatory evaluation of consumer rights protection ranks among the top in the industry. At the same time, the customer service has been systematically transformed and upgraded to be suitable for the elderly, and the senior-friendly version of the life insurance APP has been launched, which is the first mobile application in the industry to obtain the aging-friendly and barrier-free certification from the Ministry of Industry and Information Technology.

  Focus on product innovation

Continue to improve insurance capabilities for the people

In recent years, China Life Insurance Company has continued to accelerate the building of product innovation capabilities, promote the supply-side reform of insurance products, and form a diversified product system covering life, old age, illness, death, and disability protection functions, covering individual customers, legal person customers, and strategic customers. , launched a number of hot-selling products in the market.

The award-winning China Life Corning (Celebration Edition) insurance product portfolio was innovatively developed by China Life Insurance Company through reasonable grouping of major diseases, optimization of liability allocation, etc. The insurance product portfolio realizes multiple protections for major disease groups, on-demand matching of specific/mild disease protections, and exclusive additional comprehensive insurance for flexible purchase.

In the future, China Life Insurance Company will adhere to the “customer-centric” concept, promote the supply-side reform of insurance products, improve the multi-dimensional and multi-level product system, and better play the role of commercial insurance in the social security system through continuous innovation in insurance supply. Function, providing the broad masses of people with products with more diverse forms and richer protection functions.



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