Core Insights - The Shanghai Financial Regulatory Bureau is guiding foreign financial institutions towards innovative development and encouraging foreign banks to leverage their cross-border networks and product advantages for differentiated competition and specialized development [1] Group 1 - The Shanghai Financial Regulatory Bureau is promoting foreign insurance companies to utilize global expert support teams to provide risk reduction services [1] - The bureau is guiding foreign-controlled wealth management companies to enhance investment management capabilities by relying on foreign shareholders' research and risk control experience, thereby enriching the product supply in the wealth management market [1]

Group 1 - The forum held by Ping An Property & Casualty Insurance Fujian Branch focused on the revision of the "Safety Production Responsibility Insurance Implementation Measures" and aimed to explore new paths for safety production in Fujian [1][2] - The new implementation measures emphasize the critical role of safety responsibility insurance in promoting corporate responsibility and improving risk prevention systems [1][2] - The Fujian branch introduced a new "1234" closed-loop service system, which includes establishing a risk reduction center and aims for 100% service coverage, quality inspection pass rate, and customer satisfaction [2][4] Group 2 - The transition from passive response to proactive prevention in safety production management is highlighted as essential, with the new measures serving as a key tool to balance development and safety [2] - Ping An Property & Casualty Insurance has developed a new model integrating technology, service, and insurance, utilizing the "Eagle Eye 2.0 System" and the Ping An Enterprise Treasure APP to provide disaster warning information and online safety training to approximately 97,000 enterprises [4] - The company plans to continue integrating national technical service resources and actively participate in a multi-party governance model to contribute to high-quality economic development in Fujian [4]

Core Viewpoint - The insurance industry is increasingly focusing on disaster prevention and risk reduction services, emphasizing the importance of technology and innovative insurance products to enhance disaster resilience and response capabilities [3][4][5]. Group 1: Industry Initiatives - The insurance sector is exploring various measures to support disaster risk reduction, including the implementation of catastrophe insurance and catastrophe bonds to distribute risks [3][4][7]. - The "new national ten measures" released last year highlight the need to enrich catastrophe insurance forms and improve emergency service mechanisms [3][5]. - The industry is encouraged to utilize technologies such as big data, artificial intelligence, and satellite remote sensing to enhance risk reduction services [3][5]. Group 2: Technological Advancements - China Pacific Insurance's "Eagle Eye System" disaster management platform sent over 10.5 billion disaster warning messages, covering more than 67 million individuals and businesses [4]. - China Insurance's "Catastrophe Anlan" platform integrates 9 categories of 99 million risk data points to support risk reduction services [4]. - The industry recognizes the need to strengthen data analysis capabilities and develop innovative insurance products to better address future challenges [5]. Group 3: Catastrophe Insurance and Bonds - The catastrophe insurance system is being continuously improved, with recent expansions in coverage to include various natural disasters [7]. - The issuance of catastrophe bonds is helping the insurance industry enhance risk diversification capabilities, allowing for the transfer of non-financial risks to capital markets [8]. - The first comprehensive catastrophe insurance for urban and rural residents was launched in Hebei Province, marking a significant step in expanding catastrophe insurance coverage [7].

Core Viewpoint - The article emphasizes the importance of disaster prevention and reduction in the context of increasing climate change and extreme weather events, highlighting the role of China People's Insurance Group (China P&C) in establishing a comprehensive risk management system that integrates insurance, risk reduction services, and technology [1][2]. Group 1: Risk Management System - China P&C has developed a full-chain risk management system covering pre-disaster prevention, in-disaster response, and post-disaster compensation [1]. - In 2024, China P&C's risk reduction initiatives have cumulatively reduced social losses by over 1 billion yuan [1]. - The company has integrated 9 categories of 99 million risk data points into its self-developed "Catastrophe Safety" platform to support risk reduction services [1]. Group 2: Insurance and Support - China P&C has provided insurance coverage for nearly 40 major natural disasters, including Typhoon "Mojie," through a multi-disaster, multi-year, and multi-level protection system [1]. - As the chief co-insurer, China P&C has collaborated with over 40 insurance institutions to form a catastrophe insurance community, offering 22.36 trillion yuan in catastrophe risk protection to 64.39 million households [1]. Group 3: Technological Integration - The company is transitioning risk management from "post-event compensation" to "pre-event prevention" by leveraging technology [1]. - China P&C employs IoT devices to enhance safety networks and utilizes smart tools to improve the effectiveness of safeguarding livelihoods [1]. - The company has enhanced its data-driven capabilities through smart claims systems, "Yunzhibao" smart screens, and satellite remote sensing technology to ensure rapid response during disasters and efficient data review post-disaster [2]. Group 4: Continuous Improvement - China P&C analyzes post-disaster claims cases using big data to continuously optimize risk models and emergency plans, forming a closed loop of "early warning - response - review" for long-term disaster prevention [2]. - The China Disaster Prevention Association has established a subcommittee for disaster insurance and risk reduction, with China P&C's subsidiary, China People's Property Insurance Co., Ltd., elected as the chair unit [2].