In recent years, the life insurance industry has been under pressure in the face of capital market volatility and declining returns on fixed income assets.
Different from the strategic path of other foreign life insurance companies, Teckwah Angel Life is deeply engaged in the individual insurance channel in the life insurance market. By deepening its digital services, increasing the use of technology and promoting product innovation, Teckwah Angel Life has maintained a rapid and healthy growth momentum. As of the end of 2022, the cumulative scale of the premium reached 95800 million, with a compound growth rate of 68% from 2014 to 2022.
In September this year, the capital increase of Teckwah Angel Life Insurance was approved, and both shareholders are full of confidence in the company's future development. The capital increase has significantly improved the company's solvency, and the comprehensive solvency adequacy ratio has reached nearly 200%, escorting the company's future development.
Deep cultivation of personal insurance: the "ballast stone" of accumulation
In terms of individual insurance channels, the company has always adhered to the operation of the best value rate. In the past ten years, Teckwah Angel Life Insurance has promoted the professionalization and specialization of the first-class team based on the dual-track model of "staff system + ** system". Teckwah Angel Life continues to invest in the construction of the best people, continuously improve the capacity building of the field, and take "knowledge investment" as the guide to help the high-quality development of the top team.
Despite the overall decline in the scale of the individual insurance channel, under the guidance of the strategy of "individual insurance + digitalization", Teckwah Angel Life Insurance has maintained steady growth. In the first half of 2023, the per capita production capacity of Teckwah Angel Life** personal insurance activities reached 2680,000 yuan, a year-on-year increase of 22%;The main products of individual insurance reached a new high of 14,818 yuan, an increase of 17% year-on-year.
Digital Transformation: Building Core Competitive Advantage.
Teckwah Angel Life adheres to the strategy of "keeping the right and surprising", combining the digital advantages of the German Angel Group with the individual insurance channel, and realizing the high position of digitalization in the company's strategy.
In its second full year of operation, Teckwah Angel Life established the Digital Business Unit, and digitalization has become one of the core strategies of Teckwah Angel Life. With a digital coverage rate of over 90% across all aspects of sales and service, Teckwah Angel Life is one of the earliest companies in the insurance industry to deploy digitalisation. Actively exploring innovative business models, Teckwah Angel Life is at the forefront of digitalization among small and medium-sized enterprises.
In recent years, Teckwah Angel Life has been increasing the application of technologies such as big data, cloud computing, AI, technology and blockchain, focusing on the "technology middle platform", "business middle platform" and "data middle platform". With the ANGEL Winner app, WeChat Work, Mini Program, official WeChat platform, big data analysis and digital middle platform as platforms, we will comprehensively promote the integrated development of "personal insurance + digitalization".
Silver market: Deepening the supply of old-age insurance.
Against the backdrop of an accelerating ageing population, Teckwah Angel Life is actively focusing on the senior market, especially the elderly market. It not only conducts in-depth optimization and research and development of elderly insurance products, but also jointly launches an exclusive new Internet product, Xiaoqinbao No. 2 Middle-aged and Elderly Specific Disease Insurance, with the giant company Shuidi Bao, to meet the long-term protection needs of the elderly.
Teckwah Angel Life is committed to providing a comprehensive elderly care service network with home care as the core, covering three major service areas: home care, age-appropriate renovation and institutional care. Teckwah Angel Life is optimistic about the asset-light health care model of the "Cross-Industry Alliance" and believes that it will have a positive effect on the development of small and medium-sized companies.
On the occasion of its 10th anniversary, Teckwah Angel Life has actively promoted transformation and focused on the "Personal Insurance + Digital" strategy, demonstrating strong development potential and prospects. On the road ahead, Teckwah Angel Life will continue to stay true to its original aspiration and plan for a more brilliant future by meeting internal and external challenges.