Recently, the results of the “2023 Excellent Inclusive Finance Cases” selection organized by People’s Daily Online were released. China Life Insurance Co., Ltd. (hereinafter referred to as “China Life Insurance Company”) won the “Supporting Rural Areas” for its “Poverty Prevention Insurance” inclusive comprehensive insurance innovation project. Revitalization Award”.
If the nation is to be rejuvenated, the countryside must be revitalized. The report of the 20th National Congress of the Communist Party of China pointed out that to comprehensively build a modern socialist country, the most arduous and arduous tasks still lie in rural areas. It is necessary to consolidate and expand the results of poverty alleviation, enhance the endogenous development momentum of poverty-stricken areas and people who have been lifted out of poverty, improve the rural financial service system, and comprehensively Promote rural revitalization.
China Life Insurance Company thoroughly implemented the decisions and arrangements of the Party Central Committee, gave full play to its comprehensive financial advantages, actively explored and practiced, and piloted the “Poverty Prevention Insurance” inclusive comprehensive insurance project in Chongzuo City, Guangxi. The project focuses on the factors that cause poverty and return to poverty, sets a poverty prevention guarantee line based on data analysis, and includes households monitored for poverty prevention due to illness, schooling, and disasters into the key monitoring scope, and implements dynamic management, intensive operations, full-process services, and sharing of over-compensation risks. guarantee mechanism and contribute “China Life’s wisdom” to the “insurance + banking” comprehensive financial service for rural revitalization.
Cooperate with government and security and strengthen top-level design.Starting from serving people’s livelihood, China Life Insurance Company actively cooperates with government work initiatives, establishes a dedicated team, constantly adjusts ideas and innovates models, and researches and drafts inclusive “poverty prevention insurance” through grassroots visits and surveys, comprehensive investigations, precise screening and other means. Implementation plans for comprehensive insurance projects, forming product design ideas and promotion implementation models. Deepen political and insurance cooperation and effectively play the role of inclusive personal insurance in protecting people’s livelihood.
Integrate resources and give full play to comprehensive financial advantages.To implement the long-term working mechanism of “One China Life, Package Assistance”, China Life Insurance Company has collaborated with China Life Property & Casualty Insurance Company and China Guangfa Bank to participate in poverty prevention assistance and risk sharing due to illness, schooling, and disasters. Each institution has a clear division of labor and close cooperation to give full play to the advantages of comprehensive finance and create an “insurance + bank” comprehensive financial assistance model.
Provide comprehensive protection and develop a portfolio of insurance products targeting factors that cause poverty and return to poverty.China Life Insurance Company has concluded based on the previous work practice of “Precision Poverty Prevention Insurance” that illness, disaster and education are the key factors that lead to poverty and return to poverty. In view of these three types of factors, combined with the actual protection needs of the people who have been lifted out of poverty in Chongzuo City, three types of insurance product portfolios are developed: “due to illness”, “due to education” and “due to disaster”, which are fully applicable to people at the edge of poverty and households unstable in poverty alleviation. , households with sudden serious difficulties, key monitoring personnel, etc. to meet the diversified insurance protection needs of people who have been lifted out of poverty.
Serve the people and establish a “one-stop” service mechanism.China Life Insurance Company has established a precision anti-poverty insurance service center, set up service windows, integrated resources from multiple government departments, and provided efficient and convenient services such as cost review, investigation and compensation, policy publicity, consultation and progress inquiry, etc. to the needy people.
This award reflects the full recognition of all sectors of society for China Life Insurance Company’s continuous strengthening of its political, people-oriented and professional nature. It also reflects China Life Insurance Company’s responsibility and responsibility as the industry’s “leading goose” to serve the overall development of the country. In the future, China Life Insurance Company will further explore a sustainable insurance poverty prevention model, promote targeted poverty prevention and upgrading, and write a new chapter in serving rural revitalization.