Ping An Life's Top 10 News in 2023

1. Adhere to the guidance of party building and unswervingly promote high-quality development

In 2023, Ping An Life comprehensively studied and implemented the spirit of the 20th National Congress of the Communist Party of China and the spirit of the Central Financial Work Conference, strictly implemented the "first issue" system, and organized more than 900 studies on the first topic by party committees at all levels, promoting the integration and mutual promotion of party building and the company's development, and providing strong support for the company's high-quality development with new achievements in party building work. In July 2023, the Party Committee of Ping An Life was awarded the title of "Advanced Grassroots Party Organization" by the Shenzhen Non-public Party Committee. Under the guidance of Ping An Group's new value culture, Ping An Life adheres to the principle of "doing complex things simply, doing simple things repeatedly, repeating things to standard, and sticking to standard things", and unswervingly promotes life insurance reform.

Second, the effect of the "channel + product" reform has been accelerated, and the value of new business has increased significantly

In 2023, Ping An Life continued to deepen its "channel + product" strategy, promoted the diversified development of channels, and continued to iteratively upgrade its specialized products and services, resulting in stable business operations. The four major channels have worked in tandem, the production capacity has continued to increase, and the "insurance + service" system has been continuously improved, building a moat for long-term development. In the first three quarters of 2023, the value of new business in life insurance and health insurance business was RMB33.574 billion, a year-on-year increase of 40.9% on a comparable basis, and the results of reform continued to appear.

3. The "insurance + service" system is becoming more and more perfect to build differentiated competitive advantages

In response to changes in customer needs, Ping An Life has launched insurance products in the three directions of "wealth, pension and protection", and continued to deepen the model of "insurance + medical health", "insurance + home care" and "insurance + high-quality health care community" by relying on the Group's medical and health ecosystem. In terms of healthcare, as of the first three quarters of 2023, it has served more than 19 million customers, a year-on-year increase of more than 10%. In terms of home-based elderly care, as of the end of September 2023, Ping An's home-based elderly care services have covered more than 50 cities across the country, and more than 70,000 people have been qualified for home-based elderly care services. In October 2023, the "Nursing Alliance" for home-based elderly care was released, and the "Safe and Worry-free Care" product system was launched to help the standardized development of the rehabilitation and nursing industry. In terms of high-quality health care communities, the Ping An Ageing Project was established in Jing'an, Shanghai, and the first service experience center was opened in Sanya.

Fourth, we will firmly build a high-quality agent team, and the per capita production capacity will be greatly increased

Ping An Life promotes the transformation of the agent team to "high quality, high performance and high quality" through high-performance segmentation and refined operation. In June 2023, the company launched the "Ping An MVP" brand, namely "Ping An's Most Valuable Insurance Agent", to create a new benchmark for top high-performing agents and improve the company's team structure. With the help of digital means to empower team management, we continue to implement the "three good and five-star" department course evaluation system. In the first three quarters of 2023, the per capita value of new business increased by 94.4% year-on-year, and production capacity increased significantly.

5. Deepen the exploration of innovative channel development to meet the differentiated needs of customers

Ping An Life is committed to the reform of the multi-channel model and the coordinated development of innovative channels to fully meet the people's multi-level and diversified financial consumption services and insurance protection needs. In the first three quarters of 2023, bancassurance channels, community grids and other channels contributed 15.8% of Ping An Life's new business value. The bancassurance channel strengthened synergy and integration with Ping An Bank, and continued to expand the channels of external cooperative banks. As of the end of September 2023, a team of more than 11,000 high-quality commissioners has been formed, and the layout continues to deepen.

6. The annual compensation amount reached 44.2 billion yuan, giving full play to the role of social "stabilizer".

In 2023, Ping An Life will continue to optimize the customer claims service experience, innovate claims settlement methods such as "inpatient direct/express claims, flash claims, and intelligent pre-claims", and create an intelligent claim settlement model to achieve "one-sentence voice reporting, one-click upload of materials, and one-minute review and payment". Actively fulfill the duty of insurance protection, efficiently respond to major disasters and accidents, launch a number of claims service measures and medical assistance services, and organize volunteer services to help post-disaster recovery and reconstruction. The company settled 4.98 million claims throughout the year, with a total amount of 44.2 billion yuan, and quickly responded to 83 major disasters or accidents such as heavy rains and floods in the Beijing-Tianjin-Hebei region and the Jishishan earthquake in Gansu.

7. Consumer protection education and publicity reached more than 430 million people to protect the rights and interests of consumers

In 2023, Ping An Life incorporated the protection of consumer rights and interests into its corporate governance, corporate culture construction and business strategy, and comprehensively upgraded its consumer protection system and mechanism. Under the guidance of supervision, we will orderly carry out comprehensive management of complaints, rectification of the chaos of "agent surrender", cleaning up sleep insurance policies, and new citizen services, so as to enhance consumers' sense of happiness and gain. Focus on key groups such as "one old, one young and one new", and carry out financial education and publicity activities such as "five entry". In 2023, Ping An Life's financial consumer education and publicity reached more than 430 million people.

8. Solidly promote a comprehensive digital strategy and empower the company to transform and improve quality

Ping An Life has comprehensively implemented the digital system project of life insurance in three aspects: operation management, service operation and channel management. Implement the mechanism of "one table, one meeting, one week", enhance the ability to control the overall operation, continue to explore digital business transformation, and move towards smart management; Build a closed-loop of the whole process of online services, create a service experience in the "three provinces", and the level of online service operation has reached more than 99%, and the level of insurance and service automation has reached more than 90%; With digitalization to empower agents to operate efficiently, "Agent AskBob" has fully covered the core work scenarios of the life insurance team, with a monthly utilization rate of 93%.

9. Focus on major national strategic directions and improve the quality and efficiency of serving the real economy

Ping An Life fulfills its duty of providing financial services to the real economy and serves the high-quality development of the economy and society by introducing financial "living water". By the end of the third quarter of 2023, the balance of the real economy will exceed one trillion yuan through diversified investment methods. Contribute to the innovation-driven development strategy, invest heavily in advanced manufacturing fields such as new energy vehicles, photovoltaic industry, chip industry, biotechnology, etc., and write a chapter in science and technology finance. Actively implementing the requirements of sustainable development, the cumulative scale of investment in green, inclusive and socially responsible investment exceeded 800 billion yuan, of which green investment reached 121.7 billion yuan.

10. The total amount of consumption assistance has exceeded 140 million yuan, and the company has fulfilled its corporate responsibility

In 2023, Ping An Life adheres to the public welfare orientation of "changing blood transfusion to hematopoiesis", and carries out consumption assistance, industry assistance, and education assistance. In 2023, Ping An Life will provide approximately RMB21 million in consumer assistance, with a total of more than RMB140 million in the past six years. Cadres stationed in villages were selected to go to more than 20 stations in Yunnan, Xinjiang, Guizhou, etc., to help rural revitalization.

【Important Notes】

1. The health care services involved in this article are provided by Ping An Zhenyi (Shanghai) Enterprise Management Co., Ltd. or other qualified third parties.

2. The specific services of home care for the elderly mentioned in this article are provided by Ping An Health Internet Co., Ltd. (hereinafter referred to as "Ping An Health") and/or third-party service providers with business qualifications.

3. The Ping An Ultimate RUN Health Service Plan mentioned in this article is provided by Ping An Health Internet Co., Ltd. entrusted by Ping An Life, and the medical services involved are directly provided by third-party medical institutions, and Ping An Health only provides assistance in making appointments, and does not participate in the provision of related medical services.