On April 30, Tongfang Global Life released its 2023 annual report, achieving an annual premium income of 8.17 billion yuan, a growth rate of 15.6%, and an asset scale of 35.77 billion yuan, making sustainable profits for 7 consecutive years.
2023 is the twentieth year of the establishment of Tongfang Global Life, the company has always maintained its strategic focus, continued to build its own advantages, and has won a number of high-quality ratings with its outstanding performance and stable governance level, including the latest corporate governance regulatory assessment of B, the latest legal entity operation evaluation of Class A (the highest level), the 2023Q4 comprehensive risk rating of AAA (the highest level), and the main credit rating of Tongfang Global Life is AA+. On the road of high-quality development, Tongfang Global Life actively responds to the call of the country and is committed to doing a good job in five articles to contribute to the high-quality development of the economy and society.
The two-way empowerment of technology and finance makes financial services more warm
Tongfang Global Life continues to deepen the integration and development of technology and finance, and strives to provide customers with more warm and convenient insurance claim services. In 2023, the amount of claims paid for individual business will be 580 million yuan, a year-on-year increase of 13%, the odds of claim settlement will be 98.8%, the proportion of self-help claims will be 97%, and the average time limit for small claims will be 0.2 days. Its claims service brand "Tongyi Claim" has won wide praise from customers for its excellent service. Among them, the total annual compensation amount of critical illness compensation exceeded 12 million, the fastest compensation for small claims was received in 7 seconds, and the number of hospitals directly connected to the hospital increased to 138.
Helping the development of green economy and protecting "lucid waters and lush mountains"
In response to and implementation of the State Council's decision-making and deployment on promoting green development, Tongfang Global Life has clarified the strategic objectives of green finance development, established the concept of green development, consolidated green financial investment, improved green finance capabilities, and achieved green and sustainable development, and formulated five strategic priorities: green investment, green culture, green technology, green office and green risk control. It is worth mentioning that in terms of green investment, the company has a special plan supported by green assets, which saves 2,493.96 tons of standard coal, reduces CO2 emissions by 5,321.19 tons, reduces NOx emissions by 3.75 tons, and reduces PM10 emissions by 0.12 tons per year.
People-centered, inclusive finance benefits thousands of households
As an insurance company with a deep sense of social responsibility and mission, Tongfang Global Life has always actively responded to national policies and local requirements in Shenzhen, and is committed to enriching and multi-level product and service supply to meet the diversified needs of our customers. The company continues to develop and launch products and services that benefit the public, and strives to take a solid step on the road of inclusive finance, so that financial services can benefit thousands of households.
In response to the special needs of the elderly, Tongfang Global Life has specially planned an exclusive online and offline service model. By optimizing the service process and improving the service quality, the elderly customers can enjoy a more convenient and comfortable service experience, so that they can feel more warmth and care in their later life. In terms of consumer protection, Tongfang Global Life has always firmly practiced the cultural concept of "customer first, consumer protection together". Internally, Tongfang Global Life has continuously strengthened the awareness of consumer rights protection education for employees, improved their professional ability and service level in their work, and externally, actively explored and innovated the form and content of education and publicity, so as to provide consumers with more high-quality and convenient financial consumer protection education and publicity resources, so as to help them better understand financial knowledge and protect their own rights and interests.
In addition, Tongfang Global Life has always been concerned about the development of adolescent nutrition, health and education, and its "Dream Building Project" has raised more than 2.8 million yuan through extensive mobilization of social forces and actively raised public welfare donations, successfully benefiting more than 10,000 assisted children.
Gather the wisdom of many parties to do "pension finance"
Tongfang Global Life is committed to becoming an explorer in the field of elderly care, and has been focusing on providing customers with financially stable pension financial products and one-stop medical care service solutions. The company has cooperated with the China Insurance and Risk Management Research Center of Tsinghua School of Economics and Management for 11 years, and the "China Residents' Retirement Readiness Index Research Report" jointly released has become an important window to gain insight into the pension readiness of Chinese residents. This series of survey data and research results not only reflect the changes in the awareness of Chinese residents, economic reserves and needs, but also play a pivotal role in arousing social attention, enhancing people's awareness of self-pension, assisting the government in formulating pension policies, and promoting commercial institutions to tap the potential of the pension market.
In terms of product design, Tongfang Global Life has demonstrated its profound product strength and keen market insight, and the annuity product matrix not only meets the diversified wealth management needs of customers, but also flexibly adjusts the details such as insurance age, payment method and protection period while ensuring long-term stable cash flow, providing customers with personalized and customized pension solutions. In December 2023, the company comprehensively upgraded its health care service brand "All +" and launched version 2.0, further strengthening the concept of "guarding a better life" and actively exploring a new future of health care services. In addition, in order to integrate high-quality pension service resources in the market and accelerate the expansion of the company's pension service territory, Tongfang Global Life also joined hands with Ardent Group (Hongkong) Limited to establish Heshou Health Pension Service Co., Ltd. to jointly develop the broad market of pension services.
Practicing digitalization empowers financial services to improve quality and efficiency
Based on the actual situation of the company, Tongfang Global Life actively improves the construction of data infrastructure. With data as the driving force, we will promote the company's digital and intelligent transformation and upgrading, so as to gain a clearer insight into customer needs, and then improve the conversion efficiency of private domain customers. At the same time, Tongfang Global Life continues to explore every aspect of the customer journey to improve the company's capabilities in customer operation and service, and inject stronger impetus into the marketing team. In addition, the Company will deepen the application of financial technology such as AI, continue to enhance the Company's risk management capabilities, and improve overall work efficiency, so as to achieve the growth of management efficiency.
In terms of digitalization, Tongfang Global Life will also build five key capabilities to realize the digital intelligence upgrade of the three major platforms: digital intelligence marketing platform, digital intelligence service platform and digital intelligence management platform. It is worth mentioning that the digital transformation case of the company's "RPA digital employee platform" has been successfully selected as a representative case of "Shenzhen Banking and Insurance Industry Digital Transformation Work Information", which is undoubtedly a high recognition of Tongfang Global Life's achievements in digital transformation.
Facing the future, Tongfang Global Life will continue to adhere to the core values of customer-centricity, strive to create and enhance customer value, actively develop new quality productivity, and continuously improve service quality and efficiency through continuous technological innovation and business model upgrading. At the same time, Tongfang Global Life will actively serve the high-quality development of the economy and society, and contribute to the prosperity and stability of the society.