Always adhere to the "customer-centric" product business philosophy, and constantly meet the people's growing diversified insurance protection needs, Chinese Life Insurance Co., Ltd. *** hereinafter referred to as "Chinese Life Insurance Company") continues to accelerate product innovation capacity building, promote the reform of the supply side of insurance products, and form a variety of protection functions covering life, old age, illness, death and disability, covering individual customers, corporate customers, The diversified product system of strategic customers has launched a variety of hot-selling products in the market, and continues to protect people's better life with a high-quality diversified product supply system.
Looking back on the development process since its listing 20 years ago, Chinese Life Insurance Company has always adhered to the surname of insurance and insurance for the people, and the development of product development and supply has been integrated into all aspects of economic and social progress and changes in customer needs.
Meet the insurance protection needs of different groups
In the new century, with the development of the national economy and the continuous improvement of residents' income levels, in order to effectively meet the new insurance protection needs arising from market changes, new life insurance products such as dividend-paying, universal and investment-linked insurance products have gradually been launched and favored in the industry, and new channels such as banks have gradually emerged. New life insurance products such as Chinese Life Insurance Company and health insurance products such as critical illness insurance have made great progress, effectively meeting the insurance protection needs of different customer groups.
As early as around 2000, Chinese Life Insurance Company took the lead in launching the first batch of participating life insurance products in the industry, and the related products have been widely recognized by the market, providing a model for reference for the development of domestic participating life insurance business, and making positive contributions to the product development and business development of participating life insurance in the industry. Participating life insurance can provide customers with survival insurance benefits, as well as death, high disability and other protections, and can share policy dividends according to the operation of participating business, which is widely favored by customers.
During this period, customers' attention to health protection also began to increase, and Chinese Life Insurance Company took protecting the life and health of the people and helping to solve the people's worries as the focus of development, and the product system of individual insurance channels was further enriched, and long-term critical illness insurance products were launched. In 2012, the company's critical illness insurance products were upgraded again, expanding the number of critical illness covered diseases, and adding specific disease coverage for the first time. In addition to critical illness insurance, in the individual insurance channel, we have also explored and launched health insurance products such as fixed-payment long-term medical insurance and long-term care insurance to further meet the insurance protection needs of specific customer groups.
In terms of product allocation of bancassurance channels, with the continuous deepening of the synergy of insurance business and the gradual enhancement of customers' insurance awareness, the bancassurance channel business has ushered in rapid development. The diversification of the bancassurance product system continues to advance, and the supply of protection products continues to be enriched, and various types of whole life insurance, illness insurance, medical insurance, accident protection and other products with rich forms and different liabilities have been launched one after another, and at the same time, the supply of annuity insurance, comprehensive insurance and other products has been continuously enriched, and the product forms and payment methods have become increasingly diversified.
In terms of group product development and business development, in order to effectively meet the insurance protection needs of specific groups such as enterprises and the insurance protection needs of specific groups such as students and children, Chinese Life Insurance Company has formed a short-term insurance product system covering a number of insurance protection liabilities such as death protection, accidental injury protection, illness protection and medical expense protection. At the same time, in order to meet the insurance protection needs of individual customer groups more flexibly, we have launched a general-purpose personal short-term insurance product line, which has a wide range of insurance, and people of different ages, occupations and regions can be insured according to their own needs.
Build an increasingly rich product supply system
With the official launch of the reform of the rate policy of life insurance products, companies in the industry have accelerated the pace of new product development, products of different forms, responsibilities and terms are becoming more and more diversified, and the supply of various life insurance products of Chinese life insurance companies is also becoming more and more abundant.
Focusing on the changes in customers' insurance protection needs, Chinese Life Insurance Company has given full play to the risk control role of asset and liability management in product design and product pricing, adhered to the origin of insurance, further improved product supply capacity, continued to optimize product structure, new brand product lines have emerged one after another, customer insurance choices have been further expanded, product diversification results have continued to appear, and customers with different risk preferences have better met their insurance choices.
During this period, Chinese Life Insurance Company actively explored the expansion of the breadth and depth of insurance coverage, and the supply of disease insurance product lines with critical illness insurance as the core and special disease insurance as the breakthrough grew rapidly, and a series of products such as critical illness insurance product portfolio and high accident protection products were launched one after another. In order to meet the product and service needs of customers' capital planning, the company continuously strengthens the supply of annuity insurance and comprehensive insurance products, and further enriches the pension insurance for customers' pension security needs, and the product system presents the characteristics of wide coverage, multi-level and diversification.
Actively fulfilling its responsibilities as a central enterprise, Chinese Life Insurance Company has deeply participated in the construction of a multi-level social security system, actively participated in the development of business-exclusive products such as serious illness insurance for urban and rural residents, tax-advantaged health insurance, long-term care insurance, and tax-deferred endowment insurance, and continued to play a risk protection function in the field of people's livelihood protection.
Take care of the different stages of the life cycle
With the gradual improvement of the infrastructure of product lines such as health insurance, long-term medical insurance, short-term health insurance, accident insurance, and Internet life insurance, the upgrading of various product lines and the improvement of the system of Chinese Life Insurance Company have been fully rolled out.
Comprehensively and thoroughly implement the decision-making and deployment of ***, combined with the people's growing demand for old-age security and health security, Chinese Life Insurance Company has continuously strengthened the effective supply of products. The personal pension business has made a solid start, and inclusive insurance, new business forms and new citizen products, rural revitalization products, and key regional products have been continuously enriched to better meet the insurance protection needs of customers in all aspects.
Actively cultivate the needs of customer segmentation, constantly improve the construction of product system, and strive to provide the general public with full life cycle insurance protection. Chinese Life Insurance Company continues to enrich the allocation of health protection, accident protection, nursing protection, death protection, capital planning and other products, and the insurance coverage is more extensive. Innovatively carried out the upgrading and research and development of multiple compensation products for major disease groups, gradually built a "product + service" ecosystem, and further extended the protection responsibilities of relevant insurance products to overseas medical treatment, advanced diagnosis and treatment methods, and new drugsThe scope of health insurance underwriters has been gradually expanded, providing richer and more diversified product choices for people with chronic diseases and sub-standard bodiesEmerging channels such as Internet channels and new business forms are also more comprehensive.
Continuously consolidate the foundation of product research and development
Actively practicing the concept of "customer-centric", Chinese Life Insurance Company continues to carry out market customer demand research, promotes the reform of the supply side of insurance products, improves the multi-dimensional and multi-level product system, and better plays the role of commercial insurance in the social security system through continuous innovation of insurance supply, so as to provide customers with products and services with more diversified forms and richer protection functions.
Chinese Life Insurance Company attaches great importance to relevant basic research work, continuously consolidates the foundation of product research and development, continues to carry out risk incidence trend monitoring and research, and compiles basic data reference benchmarks, laying a solid foundation for the company's product and service innovation research and development and risk management.
In the future, Chinese Life Insurance Company will closely focus on the well-being of the people's livelihood and serve the social and economic development, and further improve the supply of products and services based on the company's product system with diversified coverage channels, rich product forms, outstanding characteristics and brand influence, and continuously meet the people's demand for insurance services.