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To the Industry
Promoting the common development and prosperity of the insurance industry is one of our important missions. It’s our strategic goal to become a “leader in the healthy and stable development of the industry”. We continuously improve our professional standards, share development achievements, advocate insurance culture, and pass on the positive energy of the insurance industry.
1.1 Promote cooperation to achieve common prosperity
Participate in developing industry standards
With strong professional capabilities and rich experience accumulated in business practices, we are entrusted by the China Insurance Regulatory Commission, the National Insurance Industry Standardization Technical Committee and other departments to participate in the industry standard development to improve the professionalism the industry. For this, we obtained recognition from CIRC and the industry.
In 2017, we participated in the formulation of the following industry standards
Compilation of the insurance industry complaint service standards
We took a lead in convening the first insurance industry standardization seminar on complaint services, discussed with the regulatory authorities and industry experts on the service standard framework, and officially initiated the standards compilation.
Preparation and amendment of the standards for P/C business documents
This standard, compiled by CPIC P/C, was officially released by the China Insurance Regulatory Commission in May 2017 and effectively promotes the protection of consumer rights.
Property Insurance Quantitative Evaluation Standard Formulation
The quantitative evaluation standard of property insurance entrusted to CPIC P/C was a pioneering initiative of the domestic property insurance industry, which further enriched the second generation of risk management system, and improved the existing asset and liability management system, and the dynamic assessment of asset and liability risks of the insurance industry.
Lead the drafting of "Application Regulation for Electronic Policy Signing Technology"
CPIC Life led the drafting of the "Insurance Electronic Signature Technology Application Specification" jointly with two other companies, laying a good foundation for the electronic signature technology to be popularized in the industry.
Lead the drafting of "Electronic Policy Contract Specifications"
CPIC Life and its peers jointly undertook the task of drafting financial industry standards for the "Electronic Policy Contract Specification" and provide uniform standards for the wide implementation of electronic insurance policies.
Share experience and achievements
We organize many industry exchange meetings, built a multi-party communication platform to discuss industry-leading issues and promote the replication and promotion of excellent experience. In 2017, we conducted extensive dialogue within and outside the industry in areas such as credit risk, audit innovation, information construction, food safety risk management and food safety liability insurance, pension management, big data and artificial intelligence applications, and jointly promoted sound development of the industry.
In addition, we have a total of one key project and 6 youth projects which have won the bid of the Shanghai Finance Institute's 2017 research project, and the number of successful bids has reached new highs in recent years. The research on this topic covers technological innovation service provision capabilities, weather index insurance, and digital inclusive finance, which will help to better serve the construction of Shanghai's international financial center.
Corporate Social Responsibility
In December 2017, the China Insurance Regulatory Commission, together with the China Insurance Association and the Social Responsibility Research Center of the Chinese Academy of Social Sciences, visited CPIC to carry out the “Share the Responsibility of the Chinese Bank - Entering the Insurance Company” research activity. This survey selected six insurance companies with outstanding social responsibility practices. The field study, seminars, and training formed part of the important measures of the China Insurance Regulatory Commission to promote industry social responsibility. During the investigation, we focused on the aspiration “leader in the healthy and stable development of the industry” to share the Company’s practices in CSR, improvement of service experience, service of the real economy, service for the people’s livelihood, precision poverty alleviation, and social welfare.
The first white paper on the monitoring and evaluation of commercial health insurance development in China, organized by China Insurance Association and CPIC Life, was officially released at the “China Health Insurance Summit” in March 2017. The index provides comprehensive reference for the nation's health protection needs for the state, enterprises, and individuals, and aims to becoming an important indicator of the insurance industry’s promotion the "Healthy China" strategy.
"White Paper on China Commercial Health Insurance Development Index 2017" released
Promote win-win cooperation with industry, universities and research institutes
We established an enterprise-education-research cooperation framework. We hope that the insurance industry can better serve the society by effectively integrating all resources. In 2017, we signed cooperation agreements with a number of colleges and universities, and will conduct comprehensive cooperation in the area of scientific research and development, industrialization of achievements, finance, personnel training.
In Sichuan, we worked with Southwestern University of Finance and Economics on the training model of the insurance professional application-oriented innovative talent to improve the quality of talent supply to enterprises, and students' practical and innovative capabilities. In the field of scientific research, the two parties will collaborate with relevant government departments to initiate the establishment of the Collaborative Innovation Research Center for Government, Production, Research, and Research, which will carry out special research projects each year in social security reform and the acceleration of innovation and development in the modern insurance service industry.
In Jiangsu, we will use the Nanjing University Business School as a training ground for top agents and staff to speed up the professionalization of our people; the Nanjing University Business School will use our resources in the financial market and personnel training to train qualified professionals for the market.
In Beijing, we provided internship venues for students of the Beijing Aviation University’s School of Economics and Management; the Institute of Economics and Management will, according to the company’s talent development strategy, undertake education projects for senior management personnel.
1.2 Pass the positive energy of the industry to the broader public.
By providing tangible guarantees, insurance can help people at risk ease economic pressures and lead a better life. This is the positive energy that the insurance industry brings to the society. It is worth our recognition and promotion.
In 2017, we launched a variety of theme activities including “Executive Experience Day”, “Listen to Customers”, and “Public Welfare Run”, on the “March 15 International Consumer Rights Day” and “July 8 Insurance Publicity Day” to spread insurance knowledge and boost brand image. In addition, our local branches also actively promoted insurance knowledge education in communities, schools, and social institutions on weekdays.
Local subsidiaries launch diversified insurance knowledge popularization activities
Spread insurance knowledge by storytelling
We presented insurance knowledge in a variety of ways to the public, gathered and disseminated more than 230 stories from customers and frontline employees, and produced about 20 short videos and micro films on themes such as female car owner services, “Golden Key” services, and the Mother’s Day, which received 1.1 billion views and endorsement from customers and the public.
Established demonstration base for consumer education
CPIC Life Sichuan Branch established the Sichuan Personal Insurance Consumer Education Demonstration Base and became the first life insurance company in Sichuan authorized to set up education base. The demonstration base aims to provide consumers with consumer information and consulting services, improve their ability to safeguard their legitimate rights and interests, and at the same time create a professional window to popularize insurance knowledge, listen to consumers' opinions, improve service quality, and boost industry image.
Summer career experience of teenage reporters from the “Cixi Daily”
In Ningbo, we organized 20 teenage reporters from the “Cixi Daily” to visit our local sub-branches to attend morning sales meetings. There our agents shared sales experience with them. They also visited our business hall, experienced our smiling services, and learned about the processes like underwriting, survey, claims settlement, and after sales. The visits also gave them a better understanding of the convenience that new insurance technology brings to people.