Jing Ji Wang·2025-06-25 08:48Core Viewpoint - The Ministry of Agriculture and Rural Affairs has recognized innovative financial support models for agriculture, with China Life Insurance Group's marine ranch insurance model being highlighted as a benchmark for the insurance industry in supporting the marine economy [1] Group 1: Financial Innovation in Marine Insurance - China Life Insurance has established a Blue Insurance Development Center and Marine Data Research Institute in Weihai, Shandong, to enhance marine insurance services and research [2] - The company is building a comprehensive marine risk management service platform, integrating data from various sources to monitor risks in aquaculture [2] - New insurance products have been developed, including temperature and wave height indices, to address traditional challenges in marine aquaculture insurance [3] Group 2: Expansion and Impact of Marine Insurance Services - In 2024, the insurance service area expanded to 9 provinces, covering 580,000 acres of marine area, a year-on-year increase of 38.49% [4] - The company provided over 1 billion yuan in risk coverage to 470 marine ranches and fisheries, with a payment of nearly 74.2 million yuan in claims [4] - A comprehensive marine ranch product system has been established, covering various marine products and expanding to include different types of risks [4] Group 3: Talent Development and Future Directions - The Blue Insurance Center has recruited 12 professionals to support innovation and implementation in marine insurance [5] - The company is implementing a smart service model for marine ranches, utilizing historical data for tailored insurance solutions [5] - Future plans include deepening supply-side reforms in marine insurance to enhance risk management tools and financial services [5]