Cailian (Shanghai, reporter Ding Yan) NewsChina Pacific Insurance released its 2020 performance report on March 28th. Today, Kong Qingwei, Chairman of CPIC Group, said at the 2020 performance conference, "At present, all the members of the 9th Board of Directors have arrived, and these new members will further improve the company’s decision-making level. The new board of directors has started the top-level design related to ESG development, and the board of directors will promote various functional departments and subsidiaries to integrate ESG concepts into their daily operations. "

At the same time, Fu Fan, president of CPIC Group, believes that the macro-economy is expected to achieve rapid growth in 2021, and there are structural opportunities for equity assets. "The company will implement a dumbbell-shaped asset allocation strategy in long-term asset allocation according to the risk-return characteristics of assets, focusing on long-term interest rate bond products, extending the duration of fixed assets, and equity asset allocation including unlisted equity strategy."

Talking about the future development space of critical illness insurance, Pan Yanhong, the proposed chairman of CPIC Life Insurance, pointed out that "the switch of new regulations on critical illness in January greatly triggered the market demand, so the sales of critical illness insurance in the whole first quarter were high before and low after, and the situation was very obvious, but this was only a special phenomenon inspired by a special event. In the long run, the demand for critical illness insurance in the whole society is still very large. Taibao needs to speed up the comprehensive upgrade of its supply capacity and keep up with the pace of customer demand. "

The new board of directors has started ESG to develop top-level design.

On March 26th, China Taibao held a general meeting of the board of directors and shareholders, elected Pan Yanhong as the chairman of the seventh board of directors of Taibao Life Insurance and Cai Qiang as the director, and appointed Cai Qiang as the general manager (CEO) of Taibao Life Insurance.

When asked what changes the new board members will bring to CPIC, Kong Qingwei said, "At present, all the members of the 9th board of directors have arrived, and these new members have brought more advanced ideas and forward-looking vision to China CPIC, which has further promoted the decision-making level of the company. And since last year, CPIC has introduced many first-class talents in the fields of big data, cloud computing, Internet operation and data security to join the CPIC business. "

At the same time, it revealed, "At present, the new board of directors is considering how the company will build its future-oriented sustainable development capability. At the just-held board meeting, CPIC has launched the top-level design related to ESG development. As the highest decision-making body, the board of directors will promote various functional departments and subsidiaries to integrate ESG concepts into their daily operations, and the company has also established a special office to ensure the effectiveness of ESG management. "

It is worth noting that today is the first time that Cai Qiang, the proposed general manager of CPIC Life Insurance, participated in the performance conference of CPIC. In response to the reasons for joining China CPIC, he said, "First of all, I have confidence in the country and see that the grassroots economy has great potential for development, especially in the strategic direction of state-owned enterprise reform and the policy of mixed ownership; Secondly, although the insurance industry is facing great challenges, there is still a great potential for growth; Finally, there is confidence in CPIC, especially the internationalization and modernization of corporate governance after the listing of the three places. At the same time, its layout of important pillars of China’s economic development in the future, such as great health and well-being, is perfect. "

In 2021, we will focus on the allocation of equity assets such as unlisted equity strategy.

According to China Pacific Insurance’s 2020 annual report, its total investment income was 83.997 billion yuan, up 25.4% year-on-year, and its total investment return rate was 5.9%, up 0.5 percentage points year-on-year. Among them, the yield of equity investment was as high as 10.1%, an increase of 3.8 percentage points.

Fu Fan pointed out that "the proportion of equity assets of CPIC will continue to increase in 2020, mainly based on the expectation that equity assets will have a high long-term return on investment in the context of the downward shift of the interest rate center in the medium and long-term market. At the same time, based on its own risk preference, in the allocation of strategic assets, CPIC appropriately increased the allocation ratio of equity assets and gradually increased the allocation of unlisted equity in order to seek to improve the long-term return on investment. "

When talking about the asset allocation plan in 2021, it pointed out that "with the recovery of the epidemic in 2021, the macro economy is expected to achieve rapid growth, and there are structural opportunities for equity assets. It is expected that the downward pressure on the market economy will be reduced. Under the guidance of strategic asset allocation, the company will implement a dumbbell-shaped asset allocation strategy in long-term asset allocation according to the risk-return characteristics of assets, focusing on long-term interest rate bond products, extending the duration of fixed assets, and equity asset allocation including unlisted equity strategy. "

Four measures to comprehensively promote the comprehensive reform of auto insurance

It is worth noting that in terms of CPIC Property & Casualty, under the influence of comprehensive auto insurance reform, CPIC Property & Casualty realized insurance business income of 147.734 billion yuan in 2020, up by 11.1% year-on-year; However, the net profit was 5.209 billion yuan, a year-on-year decrease of 11.9%.

In this regard, Gu Yue, chairman of CPIC Property & Casualty, said, "The comprehensive reform of auto insurance in 2020 will have a great impact on the industry and the company itself. The comprehensive reform of auto insurance has been implemented since September 19 last year, and the impact on industry premiums after implementation is about 25%. Judging from the implementation so far, its impact on CPIC premium is better than the industry average. At the same time, the comprehensive reform of auto insurance will bring about changes in the risk rate and cost level. From January 1 this year to now, its general impact on the company is about three points. "

Gu Yue believes that the comprehensive implementation of auto insurance reform in 2021 will still have a great impact on the industry. In view of this situation, CPIC will take four measures: first, in terms of customer management, the company formally established a personal customer center, transforming from the previous product management to customer management, and realizing the deep excavation in the insurance client and demand side; Secondly, in terms of digital platform, the company makes full use of existing scientific and technological means to build a digital business platform, gain insight into the specific needs of customers, and achieve precise marketing.

At the same time, Gu Yue emphasized the importance of intensive operation. At present, the company is promoting the 2.0 project of intensive operation transformation, which pays more attention to the intensification from point to system, and more attention to the intensification from offline to online. In addition, it is necessary to be service-driven and reconstruct the service system under the customer dimension, including the allocation of service resources and the research and development of service products.

There is a big room for the development of critical illness insurance in the future.

It is worth noting that with the switching of new regulations on critical illness, the sales of new critical illness insurance in insurance companies are relatively low at present. For the future growth space of critical illness insurance, Pan Yanhong believes that "the switch of new regulations for critical illness in January greatly triggered the market demand, so the sales of critical illness insurance in the whole first quarter were high before and low after, and the situation was very obvious, but this was a special phenomenon inspired by a special event. In the long run, there is still a lot of room for the protection of critical illness insurance in the whole society. What CPIC needs is to accelerate the comprehensive upgrade of its supply capacity and keep up with the pace of customer demand. "

It specifically explained, "First of all, from the current average coverage of critical illness insurance, it is relatively insufficient. According to the statistics of CPIC, the insurance coverage of the whole market is generally less than 200,000, so there is still a lot of room for improvement compared with the real critical illness insurance. Secondly, the connotation of customers’ demand for critical illness insurance is constantly enriched and upgraded, from simple financial guarantee for critical illness insurance to more need to provide a comprehensive solution, including pre-hospital, in-hospital, after-hospital, nursing and other aspects, which are important directions for the company’s transformation in the future. "

At the same time, Pan Yanhong pointed out, "In the future, customers’ demand for critical illness insurance is also divided. For example, for non-standard customers, critical illness insurance is far from enough, which depends on the company’s identification of customers, the use of big data, and the acceleration of product innovation."

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