Core Viewpoint - The introduction of the "Implementation Plan for the High-Quality Development of Inclusive Finance in the Banking and Insurance Industries" in June marks a significant step towards improving the policy framework for inclusive insurance, guiding the industry on how to enhance inclusive financial services [1] Group 1: Company Initiatives - The company plans to promote high-quality development of inclusive insurance through three main strategies: innovation-driven approaches, service upgrades, and sustainable digital empowerment [1] - The first strategy focuses on innovation, emphasizing the need to study the protection needs of specific groups and enhance the design of products to broaden the coverage and accessibility of inclusive insurance [1] - The second strategy involves upgrading services, aiming to transform service models from mere risk compensation to a comprehensive "insurance + service" approach, such as integrating insurance with elderly care and health management [1] - The third strategy is centered on sustainable digital empowerment, leveraging data and intelligence to ensure precise pricing, efficient operations, and dynamic risk monitoring for inclusive products [1]

A股股票代码 ：601628 2025 半年度报告 中国人寿保险股份有限公司 2025 年半年度报告 办公地址 ： 北京市西城区金融大街16号 联系电话 ：86-10-63633333 公司网址 ：www.e-chinalife.com 电子信箱 ： ir@e-chinalife.com 本公司根据《公司法》《保险法》于2003年6月30日在中国北京注册成立，2003年12月在境外上市， 2007年1月回归境内A股上市。本公司注册资本为人民币28,264,705,000元。 本公司是中国领先的人寿保险公司，拥有由保险营销员、团险销售人员以及专业和兼业代理机构组成 的广泛的分销网络。本公司是中国最大的机构投资者之一，并通过控股的中国人寿资产管理有限公司 成为中国最大的保险资产管理者之一。本公司亦控股中国人寿养老保险股份有限公司。 本公司是中国领先的寿险、年金险、健康险、意外险供应商。截至本报告期末，本公司拥有约3.27 亿份有效长期保单，同时亦拥有大量的一年期及以内的意外险、健康险、定期寿险等短期保单。 重要提示 本公司董事会、监事会及董事、监事、高级管理人员保证本半年度报告内容的真实、准确、完整，不存在虚假记 ...

Core Viewpoint - Inclusive insurance is becoming increasingly important in China's multi-level social security system and is a key tool for achieving common prosperity [1][2] Group 1: Product Development - Inclusive insurance products have expanded from agricultural and critical illness insurance to include urban customized commercial medical insurance ("Hui Min Bao"), inclusive family property insurance, and more [1][2] - The service targets of inclusive insurance now encompass small and micro enterprises, the elderly, farmers, new citizens, low-income populations, and people with disabilities [2] - Despite being the second-largest insurance market globally, China still lags behind the world average in insurance depth and density [2] Group 2: Challenges and Opportunities - Current challenges for inclusive insurance include a lack of indicator systems, single innovation models, and insufficient sustainability [1][2] - Public awareness and trust in inclusive insurance need to be strengthened, and the precision and accessibility of certain products and services require improvement [2] - The balance between low premium levels, high coverage, and profitability for insurance companies is difficult to achieve [2][3] Group 3: Sustainable Development - Experts agree that maintaining the commercial nature of inclusive insurance is essential for sustainable development, requiring scientific pricing and effective risk management [3][4] - Recommendations include enhancing product supply, increasing service coverage and affordability, and allowing consumers to make informed choices through market behavior [3][4] - Government involvement is crucial in the early stages of inclusive insurance development, with a collaborative effort needed from government, commercial insurance, and social forces [3][4] Group 4: Regulatory Measures - Future regulatory efforts will focus on encouraging insurance companies to diversify inclusive insurance products and improve service quality through data utilization and risk prevention [5] - Emphasizing a people-centered approach and fostering innovation and collaboration will drive high-quality development in inclusive insurance [5]

Core Insights - The development of inclusive insurance is significantly improving the lives of various demographics, including farmers, urban workers, the elderly, and disabled groups, with notable participation rates and product enhancements [1][4][5] Policy Support - The inclusive insurance sector is receiving strong policy backing, with the government emphasizing the need for comprehensive insurance coverage for vulnerable groups such as the disabled, veterans, and economically disadvantaged students [2][3] - Recent policies aim to expand coverage, improve product quality, and enhance efficiency, ensuring that insurance services are accessible and affordable for a broader population [2] Product Innovation - The "惠民保" (Huiminbao) products are evolving with lower entry barriers, richer coverage, and higher insurance amounts, transitioning from growth to quality enhancement [4][5] - New iterations of "沪惠保" (Shanghai Huibao) and "北京普惠健康保" (Beijing Inclusive Health Insurance) have expanded their drug coverage and reduced deductibles, making healthcare more accessible [5][6] Market Expansion - The inclusive insurance ecosystem is expanding beyond traditional health coverage to include diverse products like urban customized home insurance, which addresses the needs of new citizens and gig economy workers [6][7] - Innovative products such as "沪儿保" (Shanghai Child Insurance) and "沪骑保" (Shanghai E-bike Insurance) are being introduced, reflecting a comprehensive approach to meet various insurance needs across different demographics [7]

但在推行进程中，城市商业医疗险也暴露出诸多问题。一方面，产品定价不够精准。由于缺乏充分 可靠的疾病发生率、赔付率、费用率等历史数据支撑，部分产品定价难以实现风险与费率的有效匹配， 不仅影响了保险公司的可持续经营，还可能引发消费者对产品的信任度下降。另一方面，市场竞争秩序 混乱，部分保险公司为追求短期业绩，搞低价不正当竞争，甚至出现销售误导等不规范行为，扰乱了市 场环境，阻碍了城市商业医疗险的健康发展。 近日，金融监管总局发布《关于推动城市商业医疗险高质量发展的通知》，为城市定制型商业医疗 保险的经营行为立规矩，旨在确保其长期稳健发展。 与此同时，《通知》还着重强调维护市场秩序，明确规定保险公司应遵循公平竞争原则开展业务， 不得搞低价无序竞争，不得进行垄断性、排他性销售。这将促使保险公司从单纯的价格竞争转向提升产 品和服务的多样化水平，通过提供更优质、更个性化的保障方案与服务来吸引消费者，推动市场从粗放 式发展向精细化运营转变，营造健康有序的市场环境。 实现普惠保险的可持续发展，不能仅靠保险公司"让利"，还应完善建立考核评估机制与指标体系， 多方合力进一步激发市场活力。 城市商业医疗险作为普惠保险的典型代表，自 ...

Core Viewpoint - China Life Insurance Co., Ltd. emphasizes the importance of inclusive insurance as a key component of financial services, aiming to support the modernization of China and enhance the quality of life for its citizens [1][2][3] Group 1: Development of Inclusive Insurance - China Life has been a pioneer in inclusive insurance since the 1980s, introducing simplified life insurance products and expanding its offerings to include various health and pension plans [3][4] - The company has provided coverage for 1.4 billion elderly individuals and 27 million new citizens in 2024, demonstrating its commitment to serving key demographics [4] - China Life has participated in over 200 major illness insurance projects and 80 long-term care insurance projects, showcasing its extensive involvement in the insurance sector [4] Group 2: Comprehensive Service Network - The company has established a multi-channel sales and service network, ensuring that inclusive insurance services are accessible to a wide range of customers [5][6] - With 18,000 branches nationwide, China Life has created a five-tier service system that allows residents in remote areas to easily access insurance services [5] Group 3: Technological Empowerment - China Life leverages technology to enhance operational efficiency and customer service, achieving a 96.7% online claims usage rate and automating over 70% of claims processing [7][8] - The company has implemented advanced algorithms to streamline claims processing, significantly improving operational efficiency and customer experience [8] Group 4: Quality of Service - In 2024, China Life processed nearly 25 million claims with a total payout of 60.39 billion yuan, maintaining industry-leading claims processing times [9] - The company has developed a senior-friendly service system, providing tailored services to over 27 million elderly individuals [9] Group 5: Sustainable Development Strategy - China Life focuses on a sustainable development strategy for inclusive insurance, emphasizing effective protection and affordability [10][11] - The company aims to enhance its service offerings by integrating health management services and improving customer retention [11] Group 6: Commitment to High-Quality Development - China Life is committed to advancing inclusive finance through four key principles: prioritizing people, fostering innovation, adopting a systematic approach, and maintaining a long-term perspective [12] - The company aims to enhance its risk management capabilities and consumer protection measures to ensure that inclusive insurance is both accessible and beneficial [12][13]

近日，首信保险代理推出免健康告知的百万医疗险——"众享保·百万医疗"，结节、三高、乙肝等 既往症人群也能顺利投保，产品责任内包含500万元住院医疗保障，并支持肿瘤特药、先进疗法质子重 离子医疗报销。此外，该产品可选择"0免赔"方案，住院医疗费用经社保报销后，1万元以内按60%赔 付，超1万元部分按90%赔付，大幅降低用户自费压力，开创百万医疗险普惠新篇章。 在保障范围上，该产品覆盖从日常就医到大病治疗的全场景需求。除上文提到的住院医疗费用1元 起赔外，针对大病癌症治疗，该产品提供 85 种特药保障（含CAR-T疗法）和质子重离子医疗费用报 销，赔付比例均为100%，让患者无需因高昂治疗费用放弃希望，有效避免 "因病返贫"。此外，产品还 贴心纳入住院津贴和救护车费用保障，让住院治疗更无后顾之忧。 传统百万医疗险通常要求投保人履行健康告知义务且核保严格，导致患有既往症的人群无法投保。 据中国保险行业协会数据，2024年非标体人群医疗险渗透率不足5%。首信保险代理"众享保·百万医 疗"精准聚焦非标体群体核心需求，以免健康告知为核心亮点，并配合"0免赔"设计，整合住院医疗、特 药保障、先进疗法、住院津贴、救护车费用五 ...

Core Insights - The article highlights the critical role of rural doctors and health workers in China, with over 660,000 practitioners serving approximately 490 million rural residents [2] - It discusses the challenges faced by these healthcare providers, particularly in accessing medical care themselves, as illustrated by the story of a retired village doctor diagnosed with acute leukemia [3][5] - The narrative emphasizes the importance of health insurance, showcasing how a combination of new rural cooperative medical care and commercial insurance significantly alleviated the financial burden of medical treatment [5][6] Group 1: Rural Healthcare Workforce - The number of rural doctors and health workers in China exceeds 660,000, distributed across 34,000 township health centers and 587,000 village clinics [2] - These healthcare providers are responsible for delivering basic public health and medical services to a vast rural population [2] Group 2: Personal Case Study - A retired village doctor, after a long career of serving his community, faced a personal health crisis with a diagnosis of acute leukemia [5] - The financial implications of his treatment amounted to 137,000 yuan, with insurance covering a significant portion of the costs, leaving the family with less than 5,000 yuan out-of-pocket [5] Group 3: Insurance Impact - The insurance company, Yuanbao, has responded to national policies promoting inclusive insurance, with nearly 70% of its claimants coming from third-tier cities and below [7] - The average personal expense ratio for medical claims is only 4.8%, and claims under 10,000 yuan are processed quickly, averaging 3.6 days, with some as fast as 3.7 minutes [7]

Core Insights - China Life Insurance Company released its claims service report for the first half of 2025, highlighting over 12.14 million claims and a payout exceeding 30.2 billion yuan, with a claim approval rate of 99.6% [1] Group 1: Claims Service Performance - In the first half of 2025, China Life served nearly 2.24 million rural residents with payouts exceeding 7.9 billion yuan, and assisted over 53,000 disabled clients with payouts over 8.8 million yuan [2] - The company processed over 3.91 million direct payment claims, with payouts exceeding 2.13 billion yuan, emphasizing a "zero-sense" service experience [3][6] - The introduction of electronic invoices in claims processing resulted in over 4.52 million claims with payouts of 4.6 billion yuan, achieving an average claim processing time of only 0.3 days [6] Group 2: Innovative Services - China Life launched a rapid claims service for critical illnesses, covering high-incidence diseases like malignant tumors, with nearly 114,000 claims processed and payouts exceeding 5.17 billion yuan in the first half of 2025 [10] - The company has implemented a pre-payment service for claims, with over 390 million yuan disbursed, receiving positive feedback from clients [8] - The integration of medical insurance and commercial insurance data has improved claims processing efficiency, with over 25% of cases in pilot areas processed without human intervention [3] Group 3: Customer-Centric Approach - The company responded to over 60 emergency incidents in the first half of 2025, establishing emergency response teams to provide timely support to clients affected by disasters [13] - Analysis of claims data indicates a need for improved critical illness insurance coverage, with an average payout of approximately 40,000 yuan per claim, which is insufficient compared to high treatment costs [14] - The report highlights the importance of educating families about accident prevention, particularly for minors, as data shows high incidences of animal injuries and drowning during summer [14]

Group 1: Core Insights - The implementation plan for high-quality development of inclusive finance in the banking and insurance sectors aims to strengthen the inclusive insurance system, enhance product offerings, and improve service quality over the next five years [2][10] - Recent policies have led to the development of affordable and accessible insurance products tailored for specific groups, addressing the needs of chronic disease patients and new urban residents [3][4] Group 2: Product Development and Innovation - ZhongAn Insurance has improved its medical insurance product to provide long-term medication coverage for chronic disease patients, focusing on their specific needs [3] - Taiping Life launched a targeted accident insurance product for new urban residents, covering high-risk occupations and enhancing the insurance safety net for this demographic [4] Group 3: Support for Small and Micro Enterprises - The implementation plan emphasizes the development of insurance products that cater to the needs of small and micro enterprises, enhancing their risk management capabilities [5] - China Export Credit Insurance Corporation has established a unified insurance platform to support small foreign trade enterprises, facilitating access to financial resources and professional support [6][7] Group 4: Sustainable Development of Inclusive Insurance - The sustainable development of inclusive insurance requires a balance between affordability and quality, with a focus on effective risk measurement and service coverage [9] - Companies are encouraged to optimize pricing models, enhance service offerings, and leverage digital technologies to improve operational efficiency and reduce costs [9] Group 5: Regulatory and Evaluation Mechanisms - The plan includes integrating the development of inclusive insurance into the regulatory evaluation system for insurance companies, establishing assessment mechanisms for inclusive insurance products and services [10] - The importance of setting scientific standards for evaluating inclusive insurance products is highlighted, emphasizing the need for transparency and consumer protection [10]