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China Life Insurance Company won two awards for “Excellent Cases of Financial Development in the 21st Century (2023)”

China Life Insurance Company won two awards for “Excellent Cases of Financial Development in the 21st Century (2023)”

  Recently, “21st Century Business Herald” hosted the “Excellent Cases of Financial Development in the 21st Century (2023)” selection. This award relies on think tank platforms and data terminals to sort out and summarize the advanced practices and outstanding cases of financial institutions, and to identify outstanding samples of the year. case.China Life Insurance Co., Ltd. (hereinafter referred to as “China Life Insurance Company”) relies on its achievements in high-quality development and technological innovation to win the“Outstanding Insurance Company of the Year 2023”,“Digital Transformation Agency of the Year 2023”Two awards.

  Adhere to high-quality development

Operational strength reaches new level

The Central Financial Work Conference held not long ago emphasized that high-quality development is the primary task of comprehensively building a modern socialist country, and finance must provide high-quality services for economic and social development. As the industry leader, China Life Insurance Company has always adhered to the theme of high-quality development, practiced “insurance for the people” and continuously made new contributions to serving the overall development of the country.

From the perspective of its own development, China Life Insurance Company’s operating income has stabilized at more than 820 billion for three consecutive years, total premiums have exceeded 600 billion yuan, and total assets have exceeded 5.2 trillion yuan. From the perspective of “efficiency”, since the company’s share reform and listing, the embedded value It has grown for 11 consecutive years, and its new business value continues to lead the industry; from a “quality” perspective, the company achieved a total investment return rate of 3.94% in 2022, its solvency adequacy ratio has always remained above 140%, and it has maintained its position in the regulatory risk comprehensive rating for 21 consecutive quarters. Category A rating.

While its scale and strength continue to grow, China Life Insurance Company actively participates in the construction of the social security network. Critical illness insurance covers 350 million urban and rural residents, reducing the medical burden by more than 25 billion yuan. The ability to serve the real economy has continued to improve, with a total investment in the real economy exceeding 3.6 trillion yuan, and strategic investment in serving regional development exceeding 2.3 trillion yuan. Rural revitalization-related insurance business and investment scale have achieved rapid growth. In recent years, China Life Insurance Company has continued to actively participate in social welfare through charity donations, organizing community care, volunteer services, etc., and MSCI’s ESG rating has been upgraded to BBB level, continuing to be in the leading echelon of the industry.

  Accelerating growth in technological capabilities

Build an industry-leading digital base

“The establishment of science and technology will strengthen the nation, and strong science and technology will make the country strong.” The report of the 20th National Congress of the Communist Party of China regarded self-reliance and self-reliance in science and technology as the strategic support for national development. China Life Insurance Company uses data as a key production factor to create an open and compatible digital base. Based on the principle of “crowd intelligence, agility and iteration”, it accelerates digital transformation, continues to build a digital insurance ecosystem, and provides powerful technology for the company’s high-quality development. support.

  The Enterprise Control Center (ECC) is of great significance in financial enterprises. It can provide comprehensive system monitoring, management and support, ensure the safe and stable operation of the entire enterprise system, and optimize resource utilization and decision-making.China Life Insurance CompanyThe enterprise digital operation production command hub construction project gives full play to the integrated linkage advantages of ECC, using technological digital assets as the core to achieve full management of technological product resources and lay a data foundation for the overall operation of science and technology; at the same time, it uses technological production activities as the starting point to focus on production , data, security, permissions, etc., further smoothen the company’s digital operation cycle, improve the efficiency of scientific and technological operations, and comprehensively enhance the company’s scientific and technological digital operation level.

Using mobile Internet, Internet of Things and other technical means, we will integrate online digital services with offline digital workplace, and build China Life’s unique insurance digital platform (EAC) to effectively connect enterprises, sales teams and employees in a flat and social way. Customers, realize the rapid optimal allocation of resources, release the multiplier effect of benefit stacking and value doubling, make technology an “amplifier” of the inherent advantages of the company’s organization, outlets, teams, etc., and build a platform-based business model in the digital economy era.

Relying on the integrated online and offline digital platform for internal and external communication, China Life Insurance Company will focus on technological self-reliance and self-reliance to comprehensively improve the independent controllability of core technologies, continue to further promote digital transformation, deepen empowered value creation, continue to build a digital insurance ecosystem, and comprehensively Launch the financial technology digitalization project and embark on a new journey of digital construction.

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