CPIC’s “Giant Wheel” Cleaves on the Sea To Write a New Chapter of Quality Service Development
When the “Peak Mission” Everest scientific expedition successfully completed the comprehensive task of the summit scientific expedition on May 4, Mr. Guo Wenrong, a regular customer of CPIC Life Insurance Yunnan Branch, also successfully realized his ultimate dream of climbing Mount Everest on both the north and south slopes. On the summit, Mr. Guo Wenrong brought along the CPIC flag, which flew high at the top of the majestic snow-capped mountain. Through this move, Mr. Guo Wenrong demonstrated the high recognition of customers for the CPIC service full of responsibility, wisdom and warmth.
2022 marks the 31st year that China Pacific Insurance (Group) Co., Ltd. (“CPIC”) has served customers. In the past 31 years, CPIC has always passed on its “customer first” message, and has built up a reputation for quality customer service. In recent years, as the market has undergone profound changes and reform and innovation have entered deeper waters, CPIC, under the leadership of Chairman Mr. Kong Qingwei and his Board of Directors, has continued to upgrade its governance level, pushed the giant ship to perform marvellously on the sea, achieved steady, stable and high-quality service development, and consolidated its leading position in the industry.
Promote System 0ptimization and Innovation Improve Governance Level and Upgrade Core Competitiveness
On the one hand, CPIC has continued to optimize and improve its own systems and mechanisms to enhance supervision and discipline, effectively avoiding arbitrary governance and random decision-making, thereby improving governance standards. On the other hand, CPIC has actively established a separate communication mechanism between the Chairman and the independent directors to ensure effective communication between the directors at the institutional level. At the same time, CPIC has increased the number of presentations by the management to the Board of Directors, further enhancing the decision-making power of the Board.
In addition, the rapid development of the industry has led to increasing demand for professional and personalized insurance products and services, placing greater demands on the professionalism of CPIC’s Board of Directors. The system and processes in place at CPIC ensure that the views of professionals are heard and that the business model of the business strategy is continuously improved, thereby enhancing the competitiveness of the industry. For example, with the advice of its independent directors, CPIC has focused on ESG development and integrated it into its business operations, leading the industry in green development.
It is worth mentioning that the directors of CPIC are leaders in their respective professions, including economist Ms. Liang Hong, insurance expert Mr. John Robert Dacey and investment expert Ms. Liu Xiaodan, etc. The inclusion of such a wide range of professionals on the Board of Directors contributes to decisionmaking and further helps CPIC improve its governance.
Governance Empowered to Drive Quality Service Development Recognized by Industry with Prestigious Awards
Empowered by the effective governance of the Board of Directors, CPIC has focused on its insurance business, maintained a stable posture and proactive spirit of innovation, and effectively meet the challenges of the market, winning a number of awards that have been recognized by the industry.
CPIC has always maintained a longterm belief, focused on the main business of insurance, and carried out the layout of pension, health, technology and other fields around the innovation of the insurance value chain. It has also maintained a stable development attitude in the face of the cyclical nature of insurance and financial development, building up its strength at low levels and opposing adventurism at high levels.
It is worth mentioning that the board of directors drives change with innovation and promotes high-quality development of services. The refined operation of property and casualty insurance continued to deepen, and agricultural insurance and other non-automotive emerging business areas also maintained rapid growth; life insurance “Changhang Action” focused on key areas such as team upgrade, service value-added, and digital empowerment; in health care, “CPIC Care Home” Elderly care community projects have accelerated nationwide deployment; Internet medical care, health industry investment funds and other areas have also made frequent breakthroughs, and the layout of health care is gradually forming an integrated ecosystem with the main insurance business.
At the same time, CPIC has accelerated technological progress, especially under the COVID-19 situation, by increasing online services to effectively improve customer experience.
CPIC has won authoritative awards for many consecutive years attributing to its outstanding performance in the field of board governance. In November last year, Chairman Mr. Kong Qingwei was awarded the “Outstanding Director Award” in the category of “Listed Company – Executive Director” in 2021 by the Hong Kong Institute of Directors. The board of directors of the company led by him also won the “Outstanding Director Award” in the category of “Listed Company – Board of Directors”, this is the second time the board has been awarded two awards after it won in 2018, which fully reflects the high recognition by professionals of CPIC’s performance in the field of corporate governance in recent years.
In addition, CPIC’s operating performance has grown steadily in recent years, and its overall strength has continued to grow, with the company ranked 158th on the Fortune Magazine 500 list for the 11th consecutive year in 2021.
Looking forward to the future, CPIC will continue to enrich the connotation of governance, pay more attention to big health, big data, and regional economic development, and penetrate services into all aspects, life-long services, and refined services, enabling high-quality experience with services around you, and always be a warm CPIC’s Service Officer, never forget the past and strive for a new journey.