On September 5, the 2023 China Corporate Social Responsibility Innovation and Development Forum hosted by “China Business News” sponsored by “Responsibility Leads Consensus” came to a successful conclusion. After being selected by professional selection agencies and authoritative media, China Life Insurance Company Limited (hereinafter referred to as “China Life Insurance Company”) won the “Annual Social Responsibility Contribution Enterprise” award.
This forum, together with authoritative experts, scholars, entrepreneurs, and professional institutions, focuses on hot topics such as “dual carbon strategy”, “sustainable development”, “ESG corporate governance” and “public welfare practice and innovation”, sharing corporate wisdom and discussing together Responsibility of the times, creating a responsible future together.
The 2023 “CSR Competitiveness” Responsibility Typical Case Selection aims to pay attention to the actions and practices of enterprises in maintaining the human living environment, rationally utilizing resources, and establishing a balanced economy. It is hoped that each enterprise can become a leader in sustainable development and public welfare. A participant in society, a model who pays attention to and responds to stakeholders, a representative of responsible operation, an innovator of responsible management, and a leader in comprehensive value creation. The collection of corporate responsibility cases this year focuses on the actual action of corporate responsibility fulfillment, the high efficiency and high quality of corporate development, and outstanding performance in social value creation, ESG evaluation system, rural revitalization, dual-carbon strategy, sustainable development, and common prosperity. .
China Life Insurance Company is a leading enterprise in the domestic life insurance industry. It has won the trust of a wide range of customers with its long history, strong strength, professional and leading competitive advantages and world-renowned brands, and has always occupied the leading position in the domestic life insurance market. The company adheres to the social responsibility strategic goal of “building a world-class and responsible life insurance company”, deepens the concept of sustainable development, builds a green financial system with China Life characteristics, actively fulfills various economic, environmental and social responsibilities, and promotes social health, harmony, and Contribute to green development. The company’s ESG practice has been widely recognized by the society. It has been rated as BBB by MSCI ESG, an authoritative international rating agency, and is in the leading echelon of the domestic life insurance industry.
Adhere to the origin of insurance and help people’s livelihood protection
Adhering to the people-centered approach, China Life Insurance Company actively builds a diversified inclusive insurance product system, intensifies efforts to serve the real economy, and protects the people’s better life. Enrich the supply of inclusive insurance protection to meet the health protection needs of the general public. As of June 30, 2023, it has undertaken more than 200 critical illness insurance projects, covering nearly 350 million people; and has undertaken more than 60 long-term care insurance projects, covering 3,300 people. More than 10,000 people; more than 110 cities have implemented customized commercial medical insurance projects. The company is committed to improving the protection of specific risk groups such as the elderly, women, children, the disabled, and new citizens. As of June 30, 2023, the insurance business for the elderly underwritten covers about 33.88 million person-times, providing more than 2 trillion yuan. Insurance protection: provide about 1.1 trillion yuan of insurance protection for 7.27 million specific female groups. Give full play to the advantages of large-scale and long-term insurance funds. As of June 30, 2023, the scale of investment in serving the real economy has exceeded 3.8 trillion yuan, and the scale of investment in serving regional development strategies has exceeded 2.5 trillion yuan.
Boosting Rural Revitalization and Consolidating the Achievements of Poverty Alleviation
In the first half of 2023, China Life Insurance Company will continue to improve the long-term assistance mechanism, and strive to improve the quality and efficiency of financial and insurance services for “agriculture, rural areas and farmers”. 950 cadres stationed in villages to help support cadres were dispatched to undertake the work of 1,171 support points with all their strength, and invested 11.24 million yuan in support funds to help farmers increase production and income. In response to the diverse insurance protection needs of the rural population, vigorously develop relevant insurance business, provide risk protection of 18 trillion yuan for 190 million rural population, and pay 8.2 billion yuan to 2.08 million person-times, weave a multi-level insurance protection network and effectively consolidate Achievements in poverty alleviation.
Implement the dual-carbon strategy and promote green development
Actively build China Life’s characteristic green financial system, unswervingly follow the path of green development with ecological priority, and help realize the “double carbon” goal. Fully promote the green insurance business, create a package of insurance product service plans for green industry customers, and improve the supply capacity of green insurance services. In the first half of 2023, the green insurance coverage of China Life Insurance Company reached 383.806 billion yuan. Continue to strengthen the responsible investment management system, incorporate ESG into the investment analysis and decision-making process, and promote the green transformation of investment business. As of June 30, 2023, the stock of green investment will exceed 440 billion yuan. In-depth development of green operations, practice of energy conservation and emission reduction, the personal business has basically realized paperless insurance, and the online service rate of security and claim settlement has remained at a high level of more than 90%.
Support public welfare undertakings and create social value together
Adhering to the social responsibility concept of “people-oriented, caring for life, creating value, and serving the society”, China Life Insurance Company actively participates in social public welfare undertakings and strives to give back to the society. In the first half of 2023, the company donated 20.4 million yuan through the China Life Charity Foundation, which will be used for special families in family planning and poverty-stricken women suffering from “two cancers” to help the development of a harmonious society. The company advocates the spirit of voluntary service, has more than 7,000 registered young volunteers, and encourages employees to participate in public welfare practices; deeply cultivates education and public welfare undertakings, continues to carry out the “Sports Support Plan for Hundred Schools”, donates sports equipment to schools, and selects volunteers from sports colleges to support education , Organize basketball training and league matches to help youth sports; continue to hold the “Art Back to the Mountain” public welfare activity, promote aesthetic education practices, and provide high-quality aesthetic education resources and aesthetic education guidance for rural children.
In the future, China Life Insurance Company will adhere to the “people-centered” development philosophy, stick to the origin of insurance, and base itself on the advantages of the main business. While seeking sustainable business development, it will use actions to consolidate social responsibility and promote high-quality economic and social development.