Core Viewpoint - China Life Insurance is leveraging digital finance to enhance customer experience and operational efficiency through innovative services like the quick claim service that eliminates the need for traditional claims processes [2][4]. Group 1: Digital Transformation - The company has established a digital operation control center that provides real-time data on sales, compliance, and service metrics, showcasing its commitment to digital transformation [4]. - China Life's insurance app has 160 service functions and 1.6 billion registered users, with over 11 million monthly active users, indicating a strong digital engagement [4][5]. - The company has integrated technology across all business processes, including sales, operations, risk control, and finance, achieving significant improvements in customer experience and operational efficiency [5]. Group 2: Technological Infrastructure - China Life's digital infrastructure is built on a "large backend + small frontend" model, allowing for efficient system integration and rapid deployment of applications [7][8]. - The company has adopted a cloud computing strategy, utilizing a hybrid cloud model to enhance data management and reduce costs [8]. - The implementation of the new insurance contract standards (IFRS17) has been automated, with China Life handling a data volume that is estimated to be equivalent to half of the total policies of the top seven life insurance companies combined [9]. Group 3: Open and Intelligent Development - The company emphasizes a focus on data rather than just technology, aiming to create value through open collaboration and innovation [11]. - China Life is advancing its research and development capabilities by integrating artificial intelligence into its software development processes, achieving approximately 30% code generation assistance [11]. - The company is exploring new business models by leveraging cross-industry experiences and creating a customer-centric service ecosystem that integrates online and offline channels [11][12].

Core Insights - China Life Insurance Company reported over 12.14 million claims and more than 30.2 billion yuan in payouts for the first half of 2025, maintaining a high claim approval rate of 99.6% [1] Group 1: Claims Service Performance - The company emphasized its commitment to diverse claims service needs, serving nearly 2.24 million rural residents with payouts exceeding 7.9 billion yuan, over 53,000 disabled clients with payouts over 8.8 million yuan, and nearly 1.9 million elderly clients with payouts over 3.6 billion yuan [2] - In the first half of 2025, the company processed over 3.91 million direct claims, amounting to over 2.13 billion yuan, providing a "zero-sense" service experience [3] Group 2: Technological Innovations - China Life introduced a fast claims service integrating medical insurance and commercial insurance, achieving over 25% automation in pilot regions, significantly enhancing customer experience [3] - The application of electronic invoices in claims processing resulted in over 4.52 million claims with payouts of 4.6 billion yuan, with an average processing time of only 0.3 days [3] Group 3: Customer-Centric Services - The company launched a prepayment service for claims, with over 390 million yuan disbursed in the first half of 2025, receiving positive feedback from clients [4] - The "Critical Illness One-Day Claim" service processed nearly 114,000 claims with payouts exceeding 5.17 billion yuan, focusing on high-incidence diseases [4] Group 4: Insights from Claims Data - The average payout for critical illness claims was approximately 40,000 yuan, indicating a need for improved coverage levels [5] - Analysis revealed that male claims accounted for 43% and female claims for 57%, with lung and thyroid cancers being prevalent among both genders [5] - For minors, the leading causes of claims during summer were animal injuries and falls, accounting for about 80% of total claims [6]

Group 1 - The core viewpoint of the report highlights that China Life Insurance Company has significantly improved its claims service, with over 12.14 million claims and a payout amount exceeding 30.2 billion yuan in the first half of 2025, achieving a claim approval rate of 99.6% [1] - The company served nearly 2.24 million rural residents with payouts exceeding 7.9 billion yuan, over 53,000 disabled clients with payouts over 8.8 million yuan, and nearly 1.9 million elderly clients with payouts exceeding 3.6 billion yuan [1] - The introduction of integrated medical insurance and commercial insurance quick claim services has streamlined the claims process, allowing for a more efficient and customer-friendly experience, with over 25% of claims in pilot areas processed without human intervention [1] Group 2 - The company has developed a prepayment claims service that exceeded 390 million yuan in the first half of 2025, breaking traditional claims processes by advancing payment stages [2] - The "Critical Illness One-Day Claim" service has been expanded, covering high-incidence diseases such as malignant tumors and certain cardiovascular diseases, with nearly 114,000 claims processed and payouts exceeding 5.17 billion yuan in the first half of 2025 [2] - 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 [2]

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]