China Life: The coverage and availability of inclusive insurance services have significantly improved

China Life: The coverage and availability of inclusive insurance services have significantly improved

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  Recently, China Life Insurance Co., Ltd. (hereinafter referred to as“China Life”, 601628.SH, 2628.HK) released the 2023 annual report (hereinafter referred to as the “Annual Report”).

  China Life has always adhered to the people’s position, actively participated in the construction of a multi-level social security system, and continued to protect social and people’s livelihood.persist in“People-centered”, actively serve the national strategy and protect people’s livelihood, continuously strengthen the supply of diversified products and services, deepen the linkage of asset and liability management, continue to strengthen basic research on product supply, and enhance the ability to supply high-quality insurance products. In 2023, the company will newly develop and upgrade 196 products.

  The coverage and availability of inclusive insurance services have been significantly improved.As ofAs of December 31, 2023, China Life was operating more than 200 critical illness insurance projects, covering nearly 350 million people; it was undertaking more than 70 policy-based long-term care insurance projects, covering more than 38 million people; and it had launched customized commercial products in more than 120 cities. Medical insurance program. The company actively participates in social governance related to medical security and continues to undertake more than 600 health security entrusted management projects. The supply of security products for new citizens and employees in new business formats has been continuously increased. Help improve the multi-level pension insurance system, focus on improving the risk protection level of the elderly, and continue to improve the elderly care service system and ecological construction.

  To provide solid pension financial services, China Life has strengthened the research and development of commercial pension insurance products, enriched the personal pension insurance product system, optimized and upgraded exclusive commercial pension insurance products, promoted the pilot implementation of liability conversion business between life insurance and long-term care insurance, and continued to introduce services to the elderly. Insurance products that provide people with protection in pension funds, medical expenses, accidental injuries, etc. We will continue to increase our support for inclusive finance, increase the supply of products for women, children, new businesses, new citizens and other groups, and enrich the product system exclusive to specific groups.Actively promote technological financial insurance protectionimprove the technology insurance product system and provide protection services for technology company employees and other customer groups.

  Fully serve the construction of a healthy China. The company actively coordinates and promotes the research and development of critical illness insurance, long-term care insurance, medical insurance and other products, optimizes insurance liabilities, improves protection functions, and deeply develops product protection in the health insurance market segment, explores and promotes the integrated development of health protection and health services, and better Meet the diverse health protection needs of customers.

  Actively support rural revitalization. We will continue to enrich agricultural-related insurance products, improve the level of insurance protection for the agricultural-related population, and form a relatively complete system of exclusive insurance products for rural revitalization. The company also innovates and develops regional products, launches regional insurance products such as the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area, and actively promotes coordinated regional development.

  China Life stated,In 2024, the company will focus on five major articles: technology finance, green finance, inclusive finance, pension finance, and digital finance. It will adhere to customer-centeredness, strive for progress while maintaining stability, promote stability through advancement, establish first and then break. We are deeply involved in the construction of a multi-level social security system, continue to protect social and people’s livelihood, and continue to contribute to protecting the people’s better life.

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