Zheng Quan Shi Bao·2025-09-29 18:17Core Insights - China Life Insurance is implementing a digital financial model that allows for real-time insurance payouts without the need for claims processing, enhancing customer experience [2] - The company has established a comprehensive digital service framework that integrates various online and offline service channels, demonstrating its commitment to digital transformation [3][5] Digital Transformation - China Life has developed a digital operation control center that provides real-time operational data across sales, compliance, and service metrics, showcasing its digital capabilities [3] - The company’s insurance app offers 160 service functions, with 160 million registered users and over 11 million monthly active users, indicating strong customer engagement [4] Sales and Operations - The sales process has been fully digitized, with significant improvements in customer experience, exemplified by the ability to process 142,000 online policies in one hour during peak periods [5] - The company is set to automate over 17 million claims in 2024, achieving a 70% automation rate, which significantly enhances operational efficiency [5] Technological Infrastructure - China Life's digital strategy is built on a "large backend + small frontend" model, utilizing cloud computing and a hybrid cloud infrastructure to optimize data management and reduce costs [6][7] - The company has transitioned to a fully interconnected system that integrates over 20,000 outlets and millions of devices, facilitating efficient information flow [7] Regulatory Compliance - Following the implementation of the new insurance contract standards (IFRS17), China Life has automated the generation of compliance reports, handling a data volume that is among the largest in the industry [8] Open Innovation - The company emphasizes a data-centric approach to create value, focusing on leveraging diverse technologies and talents to enhance digital services [9] - China Life aims to advance its research and development capabilities from automation to intelligence, incorporating AI technologies to improve software development processes [10] Customer-Centric Approach - The company is committed to providing seamless online and offline services tailored to diverse customer needs, aligning with its core philosophy of "finance for the people" [10]