China Pacific Life Insurance Co., Ltd. Shanghai Branch (CPLI Shanghai) is a subsidiary of China Pacific Insurance Co., Ltd. (CPIC) specializing in life insurance.
The mission of the company is to be a responsible insurance company. Customer-oriented, expert in insurance, promoting and realizing sustainable value increase is the business concept of the company. The company’s businesses involve life insurance, annuity insurance, health insurance, accident insurance and so on. It endeavors to offer risk insurance solutions that cover customers’ entire lives.
At present, customers of CPLI Shanghai total 16.57 million, accounting for 69 percent of Shanghai’s population. Statistics of the China Association of Insurance (CAI) show that in 2017, CPLI Shanghai’s value of annual premium equivalent of personal insurance had reached 2.248 billion RMB, up 64.2 percent compared with the previous year, annual yield rate 132.5 percent, and group insurance premiums had increased to 139 million RMB. The company has provided claims services for more than 77,000 customers, and the total compensation payouts were as high as 514 million RMB.
In recent years, CPLI Shanghai has become deeply involved in all kinds of socially beneficial insurance projects of the Shanghai government, like accident insurance for the elderly in Jiading District, ecological insurance for people’s benefit in Chongming District, and comprehensive insurance for migrant employees in Shanghai. It has also provided employee welfare solutions for large and medium-sized state-owned enterprises like Shanghai International Port (Group) Co., Ltd., Agricultural Bank of China, and Guotai Junan Securities. In 2017, the company sold the first commercial health insurance policy in Shanghai whose premium is paid with the balance of the customer's Medicare Card. It was recognized as the Most Reliable Insurance Company in 2017 by Wenhui Newspaper and the Most Competent Life Insurance Company in 2017 by Tencent. As the sole insurance service provider for Shanghai Municipal NPC&CPPCC for 26 years, it has provided accident insurance for nearly 4000 municipal NPC deputies and CPPCC National Committee members and relevant staff, with total premiums worth 1.28 billion RMB. In December 2017, at the 2017 Annual Awards for Insurance Guarantee Pioneers, the 2018 Insurance Product Plan for the Benefit of the Elderly of CPLI won the Award for Annual Elderly-Care Insurance Product, and its Group Lifelong Critical illnesses Insurance won the Award for Annual Health Insurance Product. In addition, CPLI Shanghai also actively explores innovation and reform on modes and processes based on the application of new technologies. It introduced new technologies such as facial recognition and the mobile self-service tool Tai e Pei that make its services simpler, quicker and friendlier and effectively enhance time-to-service and customer experience.
In the future, CPLI Shanghai will stick to an insurance-focused development path, focus on business performance as well as quality, promote high-quality development, implement transformation 2.0 in a comprehensive way, and continue to create shared value for stakeholders including customers, industries, society and the environment.