南方财经见习记者 王达毓 广州报道 9月24日，台风"桦加沙"横扫华南地区，给广东沿海城市和港澳等地造成较大影响。理赔全线铺开，保 险业又迎来一次巨灾大考。 同日，在联合国气候变化峰会上，中国宣布新一轮国家自主贡献，基本建成"气候适应型社会"的目标成 为关注焦点之一。 在这一日益完善的风险共担机制下，如何提升险企自身风险管理能力、推动风险关口前移，已成为各大 险企数字化转型升级的重点方向。 而随着"AI+"时代的到来，人工智能体的快速发展为保险业和资产管理打开了新的想象空间。未来保险 业能否借助行业通用大风险模型（LRM）赋能保险业实现风险减量管理，进一步让风险可见、可算、 可控、可料，进一步发挥风险管理功能，赋能气候适应型社会建设，也成为行业亟待探索和突破的关键 课题。 气候风险频发，对经济社会和保险业的冲击日益加剧。 目前，台风"桦加沙"造成的经济损失尚在统计中，但以2024年9月登陆的超强台风"摩羯"为例，其是中 国2024年受影响最严重的自然灾害之一，也是自1949年以来登陆我国的最强秋台风，造成直接经济损失 近800亿元。保险业累计赔付及预赔付金额约42亿元。 瑞再研究院中国区首席经济学家戴鑫向记者 ...

Core Viewpoint - The insurance industry is experiencing a significant recovery in new business value, with a year-on-year increase of 31.3% in the first half of 2025, driven by both volume and price growth across various companies [1][16][18]. Summary by Sections New Business Value - In the first half of 2025, all listed life insurance companies, except for CITIC Prudential, achieved double-digit growth in new business value, with the overall industry growth rate reaching 31.3% [1][16]. - The new business value for major companies includes China Life at 28.5 billion yuan (20.3% increase), Ping An Life at 22.3 billion yuan (39.8% increase), and others showing significant growth rates [18]. New Business Value Rate - The new business value rate for most listed life insurance companies increased significantly, with an overall rise of 6.7 percentage points in the first half of 2025 [3][22]. - Notable increases in new business value rates include Ping An Life at 26.1% (up 8.8 percentage points) and China Life at 32.4% (up 9.2 percentage points) [22][24]. New Policy Premiums - The overall new policy premium for listed life insurance companies reached 522.7 billion yuan, reflecting a year-on-year growth of 7.8% [28]. - However, there was a notable decline in new policy premiums from the agent channel, which dropped by 13.8%, while the bank insurance channel saw a substantial increase of 61.1% [31][39]. Market Dynamics - The insurance sector is transitioning from a "volume and price decline" phase (2018-2022) to a "volume and price increase" phase in 2025, indicating a healthier growth trajectory [48][51]. - The shift in market dynamics is attributed to the effectiveness of the "reporting and operation integration" policy and the adjustment of premium rates, which have improved the new business value rates significantly [40][41]. Agent Channel and Bank Insurance Channel - The agent channel is facing challenges with a decline in the number of agents and average productivity, while the bank insurance channel is experiencing robust growth, indicating a shift in sales strategy [42][39]. - The average productivity of agents decreased by 11.3%, highlighting the ongoing transformation within the agent channel [46]. Conclusion - The insurance industry is showing resilience and adaptability, with a clear trend towards high-quality development characterized by simultaneous growth in new business value and premiums, driven by strategic channel shifts and improved operational efficiencies [51][52].

智通财经记者 | 冯丽君 从ALL in AI到AI in ALL的战略转变，今年出现加速，保险业不外如是。 今年年初，DeepSeek突然爆火，多个行业、多家公司宣布接入DeepSeek，AI在应用层落地加速。 以保险业为例，太平保险、中国人保、新华保险、平安保险、中国人寿、泰康保险、阳光保险等多家险企快速响应宣布完成DeepSeek的本地化部署或深度 集成，覆盖客户服务、承保/核保流程自动化、智能风控、数据科学等核心业务场景。此前，多家保险公司也接入了其他国产大模型进行AI应用的探索。 全球管理咨询公司麦肯锡认为，AI转型已成为险企保持竞争力的刚需，料生成式AI（Gen AI）对保险业带来的生产力将高达700亿美元，对与保险业密切相 关的健康-康养行业带来的生产力高达2600亿美元。 "2025年是AI在保险业应用的转折之年。"原中国银保监会副主席陈文辉在2025Inclusion·外滩大会上表示，AI的性能和成本已经达到临界点，能极大地增强保 险从业人员的工作能力，将他们从简单重复性的任务中解放出来。 "AI已深度渗透至保险业务流程的核心环节" 据艾瑞咨询测算，2025年保险行业科技总投入将突破670亿 ...

Core Viewpoint - The article discusses the investment behavior of individual investors in China Life Insurance, highlighting the persistence of investor Kong Fengquan despite significant stock price fluctuations and the overall performance of the company in recent years [6][7][25]. Group 1: Investment Behavior of Individual Investors - Kong Fengquan has consistently appeared among the top ten shareholders of China Life Insurance, increasing his holdings from 16.63 million shares in Q3 2022 to 50.96 million shares, maintaining his position even during a 45% decline in stock price [6][7]. - As of September 15, 2024, the stock price of China Life Insurance reached 8.15 yuan, resulting in a market value of approximately 415 million yuan for Kong Fengquan's holdings, which were acquired at an estimated cost of 265 million yuan, yielding a floating profit of 150 million yuan over three years [7][8]. - Other individual investors have also entered and exited the top ten shareholders list, but none have shown the same level of commitment as Kong Fengquan [8][20]. Group 2: Company Performance and Shareholder Dynamics - China Life Insurance has experienced significant fluctuations in its performance since its A-share listing, with net profits showing a pattern of ups and downs, including a notable increase of 83.8% in 2024, reaching 57.82 billion yuan [25][28]. - The company’s original insurance premium income has steadily increased from 600 billion yuan in 2022 to 693.015 billion yuan in 2024, with a 6.4% year-on-year growth in the first half of 2024 [27][28]. - The article notes a shift in the company’s business strategy, focusing on transforming its operations and expanding into new areas such as life and health insurance, which has contributed to its recent performance improvements [28]. Group 3: Management Changes - The company has undergone multiple leadership changes, with significant shifts in management impacting its strategic direction. Notably, after the departure of Chairman Luo Xi, who aimed for substantial reforms, the company appointed Wang Tingke, who also resigned within a year and a half, leading to the appointment of Ding Xiangqun as the first female chairman [28][29].

【环球网财经报道 记者 冯超男】在今年，人身险行业发生了两件备受瞩目的大事：一是预定利率持续下调，造就如今低利率环境，分红险成为各大险企产 品转型重点；二是"报行合一"开始向个险渠道铺开，标志着行业全面告别"高费用驱动"的发展模式，转而迈向"费用透明化"的新阶段。 分红险遇上银保渠道，契合度藏着多少 " 惊喜 " ？ 对于后者而言，加之银保"一对三"合作限制放开，银保渠道的行业地位得到进一步提升。对于坐拥庞大代理人队伍的大型险企来说，个险增长后劲不足，让 其重新审视这一渠道的价值，同时将更多的资源向银保渠道倾斜。 如今，银保渠道在销售端的地位发生了质变。而这在上市险企2025年上半年财报所披露数据得到最直观的印证： 以中国人寿为例，报告期内，银保渠道总保费达724.44亿元，同比增长45.7%。再者，2025年上半年，新华保险在银保渠道保费收入合计461.92亿元，较上 年同期增长65.1%；太保寿险银保渠道保费规模达416.6亿元，同比增长82.6%；人保寿险银保渠道保费收入531.04亿元，同比增长24.1%。 相比之下，同期个险渠道的表现明显逊色不少。除人保寿险外，前述其他险企个险渠道保费收入均高于银保 ...

活动现场，枣庄中支的宣传展位前人头攒动。工作人员主动向过往群众递发金融知识宣传手册，围绕"防范 网络诈骗""保护个人金融信息"两大核心主题，用接地气的本地方言拆解一桩桩典型案例，让专业金融知识 变得通俗易懂。针对老年群体、青少年等重点人群，工作人员更精准发力：为老年人深入讲解养老诈骗的 隐蔽套路，为青少年普及校园金融安全常识，手把手指导大家识别"高息理财诱惑""冒充客服退款"等常见 骗局，并反复叮嘱"不轻易透露银行卡密码、不点击不明链接、不随意授权金融信息"的防骗准则，从源头 帮助公众规避金融风险。同时，工作人员耐心解答群众提出的各类金融疑问，引导大家树立科学理性的金 融消费观念，筑牢自我保护的"安全防线"。 此次活动不仅有效丰富了消费者的金融知识储备，更显著提升了公众的风险防范意识与能力。未来，人保 寿险枣庄中支将持续秉承"保障金融权益，助力美好生活"的宗旨，不断深耕金融消费者教育宣传工作，推 动金融消费环境更安全、更透明，让金融服务真正下沉民生、惠及大众，为群众的美好生活持续注入温暖 可靠的"金融暖流"。 2025年9月15日，人保寿险枣庄中支积极响应号召，参与由国家金融监督管理总局枣庄金融监管分局、枣庄 ...

Core Viewpoint - The comprehensive claim ratio of short-term health insurance in the industry is low, with a median of 42.12% and an average of 45%, indicating insufficient consumer protection and trust in insurance companies [1][3][4]. Summary by Sections Comprehensive Claim Ratio - The comprehensive claim ratio is a crucial indicator of insurance product protection, with a higher value indicating more payouts to consumers [4]. - The current ratio of around 45% is considered low, with industry professionals suggesting a more reasonable range of 50%-70% for better consumer experience and sustainable operations [4][11]. Trends Over Time - From 2023 to the first half of 2025, the median claim ratio for life insurance companies increased from 38.83% to 42.12%, while for property insurance companies, it rose from 38.70% to 42.30% [6]. - Among the insurers reporting data, 11 had negative claim ratios, and 9 exceeded 100%, with 44 companies falling between 0%-40% and 33 between 40%-60% [6]. Company Performance - Major insurers like China Life, Ping An Health, and others have claim ratios above 50%, while companies like Zhong An Insurance and Tai Kang Online have significantly lower ratios [11]. - The disparity in claim ratios among companies is influenced by their product focus, with those offering broader coverage typically having higher ratios [14]. Cost Structure and Profitability - Low claim ratios do not necessarily equate to high profits for insurance companies, as high operational costs can offset potential gains [13]. - The competitive landscape for acquiring customers, especially through digital channels, has led to increased costs, impacting claim ratios [13]. Market Dynamics - The importance of commercial health insurance is growing, especially with reforms in payment methods that open new opportunities for development [16]. - The current short-term health insurance products primarily cover out-of-pocket expenses after basic insurance reimbursements, often with high deductibles [16]. Future Outlook - There is a recognized need to improve the claim ratio by at least 20 percentage points to enhance consumer satisfaction and trust [16]. - Strategies to increase consumer engagement and expand coverage are being explored, including targeting sub-healthy and sick populations [18][19]. - Government initiatives to support group health insurance purchases may provide a significant boost to the commercial health insurance market [20].

据中央气象台消息，今年第18号台风"桦加沙"（超强台风级）将于9月24日在广东深圳到徐闻一带沿海登陆， 登陆后转向偏西方向移动，强度逐渐减弱。受"桦加沙"影响，未来3天，南海及华南等地将自东向西出现强风雨天 气。目前，台风橙色预警和暴雨黄色预警生效。 中国太保深入茂名市电白区香蕉、柑橘、百香果、木瓜等易受台风影响的果园，争分夺秒帮助农户抢收果 实、加固果树、疏通沟渠。目前，累计抢收木瓜1000多斤、加固果树1300多亩，显著提升了果园的抗台风能力。 在茂名、湛江等地，中华财险广东分公司协助农户加固大棚，并派发应急物资，排查农田及养殖基地设施排 水和电力安全隐患，推送台风预警及防灾避险提示，全方位助力提升抗灾能力。 《金融时报》记者获悉，多家保险公司第一时间启动大灾应急响应，广东、深圳、海南等地分支机构落实大 灾应急响应举措，全面进入应急状态。 9月22日，广东人保财险农险团队到惠东平海镇进行风险排查，向水稻、水产农户派发台风暴雨防灾减灾技术 手册。 供图：中国人保财险 一线行动：多地联动开展灾前防御 目前，各保险公司地市分公司正抢跑在第一线，紧锣密鼓地全面开展灾前各项防御工作。 在广州，人保财险已成功帮助某鳗 ...

对于当下行业发展健康险特别是医疗险的趋势，多位险企人士表示，DRG（疾病诊断相关分组付费） 与DIP（按病种分值付费）医保改革，将构建基础医保托底、商保分层供给的立体化健康保障新格局， 给商业健康险带来诸多产品创新机遇，今年，商业健康险创新药品目录的制定，都为医疗险发展增添了 动能。 "公司正在全面推进健康险和健康服务布局，将资源向健康类业务倾斜，大幅提升健康保障型业务年化 新保费的占比，重点关注一年期健康险和健康服务。"华南地区一家寿险公司负责人向记者表示。据了 解，其一年期健康险主要发力方向是中高端医疗险。 医疗险成为各大险企发展健康险的主要战场，让健康险内部结构进一步发生变化，据了解，医疗险目前 已经成为健康险市场的新支柱，取代了以往重疾险的主导地位。 据业内人士介绍，健康险主要由重疾险、医疗险、护理险、失能险等险种构成，医疗险和重疾险目前占 据着健康险市场的绝大部分份额，护理险、失能险虽然也有险企在布局，但占比仍然比较小。 嵌入健康管理服务 目前，一些险企在尝试把健康管理服务嵌入健康险，推动客户进行自我健康管理，鼓励客户定期体检， 降低疾病风险。越来越多的健康险产品正在走出传统的纯保险保障模式，一张保 ...

【文/羽扇观金工作室 王力】 9月17日，国家金融监督管理总局批复同意人保健康出资2亿元设立健康管理子公司，这是总局成立以来 首次批准保险公司设立非金融子公司。这一决定反映出中国保险业正在经历深层次的商业模式变革—— 从传统的事后风险转移向前瞻性健康干预转变。 当前，中国健康险市场正处于关键转折期。2025年上半年，人保健康保费收入突破400亿元，净利润同 比增长49.6%，这一表现背后是整个行业对新增长模式的探索。随着人口老龄化程度加深和慢性病发病 率上升，传统保险的被动赔付模式面临成本压力，而健康管理的主动干预模式则提供了可持续发展路 径。 从国际经验看，美国联合健康集团等保险巨头已通过"管理式医疗"模式实现了保险与健康服务的深度融 合，为中国保险业提供了可借鉴的发展样本。 目前，包括太保、平安、泰康在内的多家险企已开始布局健康管理领域，行业竞争格局正在重塑。这一 趋势表明，保险公司正从单纯的风险承担者转型为全方位的健康服务提供商，健康管理能力将成为未来 保险业竞争的核心要素。 战略转型成驱动力，风险管理前置化的必然选择 保险公司设立健康管理子公司的决策逻辑，根植于行业发展的内在矛盾和外部环境变化。传统保 ...