2025-03-26 10:20Digital Transformation and Innovation - The company aims to enhance its digital transformation by leveraging big data governance and integrating financial and digital technologies for high-quality development [2]. - The digital human technology project enabled the creation of nearly 10,000 digital avatars for sales agents, facilitating personalized video messages and improving engagement with clients [12]. - The "Digital Human - AI Taizhu" project produced over 20,000 videos with a total view count exceeding 20 million, achieving production costs at only 3% of traditional methods [14]. - The intelligent claims service platform integrates advanced technologies such as OCR and deep data insights, enabling rapid response and processing of claims [18]. - The company has launched over 200 standardized video templates to assist sales agents in promoting insurance products effectively [14]. - The automated claims service platform has significantly reduced disputes arising from information asymmetry, enhancing customer experience and service transparency [20]. - The company is focusing on product and model innovation, launching multiple industry-first technology insurance products [69]. - The company is enhancing its digital capabilities, implementing a new model of "insurance + service + technology" [69]. - The company has developed a digital workforce matrix using large model technology, covering core business areas such as auditing, property insurance, life insurance, and health insurance [39]. - The new digital employee initiatives, including audit digital labor and online claims assistants, showcase the company's advancements in using large models to enhance efficiency in the insurance sector [37]. Financial Performance - The group's total operating revenue reached RMB 404,089 million, an increase of 24.7% year-on-year [65]. - The net profit attributable to shareholders increased by 64.9% to RMB 34,425 million [65]. - The new business value of life insurance was RMB 13,258 million, with a year-on-year growth of 57.7% [65]. - The comprehensive solvency adequacy ratio of the group improved by 11 percentage points to 182% [65]. - The total number of customers reached 183,176 thousand, an increase of 3,307 thousand [65]. - The group's investment asset comprehensive investment return rate was 6.0%, up by 3.3 percentage points [65]. - The total profit for 2024 was RMB 55,563 million, reflecting a significant growth of 73.6% compared to RMB 32,001 million in 2023 [96]. - The net profit for 2024 was RMB 44,960 million, up 64.9% from RMB 27,257 million in 2023 [96]. - The group's embedded value at the end of 2024 was RMB 562.07 billion, reflecting a growth of 6.2% compared to the previous year [74]. - The comprehensive investment return rate for the group's investment assets was 6.0%, up 3.3 percentage points year-on-year [75]. Customer Experience and Claims Processing - The health insurance claims process has been streamlined, with clients receiving claim payments within one day, significantly improving customer satisfaction [17]. - The automated customer service system provides 24/7 support, significantly improving customer experience and operational efficiency [40]. - The "Blue Medical Insurance" product from Pacific Health Insurance has over 85% of claims automatically processed, with 65% of cases settled within 3 minutes, achieving a breakthrough in fully automated claims processing [20]. - The automated claims reporting system has reduced average call duration from 3 minutes to 2 minutes, achieving an end-to-end completion rate of over 50% [40]. - The introduction of an auditing digital employee has increased quality inspection efficiency by 45%, allowing for the rapid review of 20-page reports in an average of 60 seconds [41]. Risk Management and Governance - The company has established a comprehensive data governance system, focusing on data security and efficient utilization, which supports its digital transformation and high-quality development [34]. - China Pacific Insurance received the highest DCMM Level 5 certification, becoming the first insurance group in the country to achieve this, indicating an optimized data management system [31]. - The company completed the DCMM Level 5 certification in just four months, significantly shorter than the industry average, demonstrating its commitment to data management excellence [32]. - The company faces various risks, including insurance, market, credit, liquidity, operational, reputational, strategic, and capital management risks [59]. Strategic Initiatives and Future Plans - The company aims to become a trusted pension service provider and a valuable partner for enterprises, emphasizing responsibility, wisdom, and warmth in its services [27]. - China Pacific Insurance is implementing a digital transformation strategy focused on AI technology, aiming to enhance high-quality economic development over the next five years [39]. - The company plans to distribute a cash dividend of RMB 10,389,968,771.40, based on a total share capital of 9,620,341,455 shares, at RMB 1.08 per share [59]. - The company is committed to ESG management and has initiated various public welfare projects in health, elderly care, and green initiatives [70]. - The company plans to deepen its health and wellness strategy, promoting commercial health insurance and optimizing claims processes [87]. - The company is focusing on innovation in health insurance products and services, targeting specific customer groups and enhancing digital solutions [159]. Investment and Asset Management - The total assets under management reached RMB 3.54 trillion, an increase of 21.2% from the previous year [74]. - The total amount of investment assets increased to RMB 2,734.46 billion, up from RMB 2,250.07 billion [105]. - The proportion of bond investments in total investment assets increased to 60.1%, up 8.4 percentage points from the previous year, with government and policy financial bonds accounting for 44.5% [197]. - The average nominal investment yield across various sectors was 4.4%, with infrastructure yielding 4.5% and transportation yielding 4.4% [200]. - The company is focusing on diversified investment strategies and enhancing its investment management capabilities, including ESG investment management systems [191].