Financial Inclusion Promotion Month | China Pacific Insurance: Guarding stable happiness with intensive farming

"Fortunately, there is long-term care insurance, which has given me confidence and hope in life again!" Ms. Han, an insured of long-term care insurance in Yancheng, Jiangsu Province, lost her ability to take care of herself after high amputation of both legs due to illness 7 years ago. "With the help of CPIC, I applied for long-term care insurance, and I was very touched by the professional and meticulous service of the staff!"

"Planting no longer depends on the weather, and CPIC's agricultural insurance products have provided us with a 'reassurance' in our daily planting. "What has made the majority of growers in Wuxian Town, Tong'an District, Xiamen praise is the meteorological index insurance tailored by CPIC Property Insurance for local fruit and corn planting.

In 2019, child Z was diagnosed with a childhood tumor "neuroblastoma". After five rounds of immunotherapy at a self-expense of 1.8 million yuan, the disease recurred, and he had to face 1.5 million yuan of treatment costs again, and the drugs he needed were covered by the "Shanghai Huibao", and the "Shanghai Huibao" paid 1 million yuan for him.

On the eve of the Spring Festival in the Year of the Dragon, CPIC Property & Casualty Guangdong Maoming Central Branch quickly paid 5 million yuan in compensation for the wage guarantee insurance for local migrant workers in 2024, ensuring that more than 160 migrant workers took the money home for the Chinese New Year......

With the advancement and popularization of inclusive financial services, more and more people enjoy the convenience and benefits brought by insurance. From the Third Plenary Session of the 18th Central Committee of the Communist Party of China in November 2013 to the State Council in October 2023 when the State Council issued the "Implementation Opinions on Promoting the High-quality Development of Inclusive Finance", the development of inclusive finance in mainland China has gone through a decade of history.

Integrate into the construction of a multi-level medical security system, continuously enhance the ability to serve the real economy, and comprehensively promote the in-depth ...... of rural revitalization CPIC has always adhered to the original aspiration of "finance for the people", actively responded to national policies, continuously improved service levels, expanded service scope, optimized product supply, continued to give full play to its professional advantages, and continued to innovate in helping healthy China, serving rural revitalization, and ensuring "one old, one small and one new", and strived to make more high-quality CPIC services "fly into the homes of ordinary people".

Focus on inclusive finance

Deeply integrated into the construction of the medical security system

On April 27, 2021, the "buds of Shanghai" of Shanghai's urban customized commercial medical insurance "Shanghai Huibao" was opened, and China Pacific Life Insurance, as the main underwriting unit, led the co-insurance insurance divisions, focusing on the health needs of new and old citizens in Shanghai, adhering to the positioning of inclusive finance, and constantly enriching the connotation of inclusive insurance services, with a total of more than 20 million people insured in the past three years, setting a number of records, and closing more than 650,000 cases.

As a piece of the puzzle in Shanghai's multi-level medical security system, "Shanghai Huibao" has been closely connected with Shanghai's medical insurance policies and medical insurance operation methods in the past three years, and has truly benefited the people.

The structure of the three-year insured population of "Shanghai Huibao" is generally stable, with the use of personal accounts accounting for nearly 8 percent, the average age of insurance is about 48 years old, and more than 8 percent of the policyholders are insured for their families. In 2023, in order to further reflect the public welfare of the project and actively fulfill its social responsibilities, "Shanghai Huibao" will walk with urban devotees to provide care and protection for specific groups such as sanitation workers and firefighters, and hold up a health umbrella for them.

As of December 2023, the cumulative compensation amount of Shanghai Huibao has exceeded 1.45 billion yuan, benefiting hundreds of thousands of families, with an average daily compensation of more than 1.33 million yuan, of which the maximum single compensation is 587,000 yuan, and the cumulative compensation amount (three years) of a single person is up to 2.43 million yuan, greatly reducing the burden of medical expenses for patients' families. Among the indemnity, 6.3% were aged 0-30, 31.7% were aged 31-60, and 62.0% were over 61 years old. The youngest is less than 1 year old, and the oldest is 104 years old, escorting people of all ages.

Over the past three years, Shanghai Huibao has pooled the strength of each insured person to help poor and weak families reduce the burden of medical treatment and enhance the sense of security of each family, which is also a typical representative of CPIC Life Insurance's professional advantages in weaving a dense and solid national health security network. In recent years, CPIC Life has actively participated in projects such as Huimin Insurance, Critical Illness Insurance, and Long-term Care Insurance, expanding the scope of coverage and providing support for the formation of a multi-level medical security system. By the end of 2023, CPIC Life Insurance had 44 Huimin Insurance projects in operation, covering 15 provinces and 77 cities across the country, serving more than 20 million insured people. Since its launch in 2021, more than 4 million people have participated in the insurance program for three consecutive years, undertaken more than 60 critical illness insurance projects with an underwriting scale of 5.857 billion yuan and served more than 100 million people, and served 50 million insured people with long-term care insurance.

Agricultural insurance + risk reduction

With the help of me, I ran out of "acceleration"

Guangdong Province has a superior geographical environment and suitable climate, and its total fishery output value ranks first in the country and the freshwater output value ranks second in the country. However, in contrast, farmers do not understand aquatic diseases, lack of corresponding breeding technology, late medication, wrong drugs, abuse of drugs and other situations occur from time to time, which brings more uncertainty to the quality and safety of aquatic products.

Under the guidance of the local Agriculture and Rural Bureau, CPIC Property & Casualty Guangdong Branch has worked with partners to build the country's first Tangtou aquatic animal disease testing laboratory - "CPIC e-Inspection Station".

Through fishery income insurance + "CPIC e-inspection station", it provides farmers with professional breeding suggestions to increase production and improve quality, helps farmers "rise in quantity and price", ensures food and environmental safety, promotes the healthy, green and sustainable development of the industry, and forms a sustainable development situation of "multiple benefits, government recognition, and farmers' satisfaction". At present, the CPIC e-inspection station has been promoted to the whole province of Guangdong, and plans to build more than 10 "CPIC e-inspection stations" in Guangzhou, Zhaoqing, Foshan, Zhanjiang, Zhongshan, Qingyuan and other cities, and gradually expand from aquatic products to rice, pigs, fruits, forests and other insurance species. Including the new model of "forest and fruit insurance + risk reduction", as well as the integrated functional vehicle of agricultural inspection to the field, opening up the "last mile" of agricultural inspection and other new models, and gradually accumulating experience, replication and promotion, forming a new inclusive financial model of "agricultural insurance + risk reduction" covering more agricultural product production.

Since 2014, CPIC Property & Casualty has undertaken agricultural insurance, and has provided more than 200 million rural households with risk protection for rural areas and rural areas through systematic construction such as the development of targeted agricultural insurance, the establishment of service outlets for agriculture, rural areas and rural areas, and the iteration of new technologies for e-agricultural insurance. The "Order + Service + Credit + Insurance + Technology" comprehensive solution model for agricultural industrialization innovatively launched by CPIC was included in the 2019 "National Typical Case of Agricultural Socialization Service" by the Ministry of Agriculture and Rural Affairs, and in 2023, it was shortlisted for the "Bank Futures Insurance" soybean planting and harvesting special project of DCE.

It is worth mentioning that CPIC Property & Casualty launched the first commercial poverty prevention insurance in China, which solved the problem of returning to poverty due to illness, disaster and education, covering more than 1,000 districts and counties, effectively preventing large-scale return to poverty, and was selected as the best poverty alleviation case in the first "Global Poverty Reduction Case Collection Activity", which provides an important idea for the country to establish a long-term mechanism of "poverty alleviation without returning to poverty" and effectively connect with rural revitalization. At the same time, CPIC Property & Casualty, with the mission of rural revitalization, has always been committed to improving service quality and efficiency to ensure that farmers can receive timely assistance after disasters.

Puju financial services benefit thousands of enterprises. In order to actively implement the work deployment of the State Administration of Financial Supervision and Administration, CPIC actively carried out the "Inclusive Finance Promotion Month" action, adhered to the principle of financial goodness and people's livelihood, gave full play to the advantages of insurance, focused on people's livelihood concerns, and promoted inclusive finance, so that insurance can benefit a wider range of people, so that the sense of gain, happiness and security can be realized, stable and long-lasting.