Core Viewpoint - The release of the "Insurance Institutions' Elderly Service Standards" aims to provide a unified standard for insurance institutions to enhance services for elderly clients, thereby fulfilling social responsibilities and improving the overall service level in the insurance industry [1][2]. Summary by Sections Introduction - The increasing aging population necessitates the improvement of elderly individuals' happiness, satisfaction, and sense of gain, which is a fundamental requirement for the insurance industry to enhance service levels [1]. Standards Overview - The "Standards" consist of eleven parts, defining the concept of elderly service adaptation, basic principles, management mechanisms, and specific standards for various service channels and processes [1][2]. Product and Service Development - Insurance institutions are encouraged to increase the development of elderly-friendly products, considering the risk characteristics and protection needs of the elderly population, and to launch comprehensive insurance products that address various service scenarios [1][2]. Specific Recommendations - Recommendations include raising the upper age limit for insurance applications, focusing on the insurance needs of individuals aged 70 and above, and providing reasonable coverage for elderly individuals with pre-existing conditions and chronic diseases [2]. Service Standards - The standards cover all aspects of services provided to elderly clients, including service standards for various channels (e.g., in-person, online, phone) and specific standards for sales, claims, and value-added services [2]. Claims Process Improvement - The "Standards" encourage insurance institutions to optimize the claims process for elderly clients by shortening processing times and minimizing the number of required documents, ensuring a more user-friendly experience [2]. Future Directions - The China Insurance Industry Association plans to further enhance service levels, promote healthy industry development, and continue to improve the standardization system within the industry [2].

Core Viewpoint - The insurance industry in China is responding to the growing elderly population, which has reached 310 million, or 22% of the total population, by establishing a standardized framework for elder-friendly services through the release of the "Insurance Institutions Elderly Service Specification" [1] Group 1: Elderly Service Standards - The "Service Specification" provides guidelines for insurance institutions to effectively and reasonably implement elder-friendly service modifications across various aspects, including service channels, product offerings, claims services, value-added services, and consumer rights protection [1] - The development of the "Service Specification" was led by major insurance companies, including China Life, Sunshine Property, and Ping An Life, with the drafting process starting in early 2024 and culminating in a finalized standard after multiple revisions [1] Group 2: Product Development for the Elderly - The "Service Specification" encourages insurance institutions to enhance the development of elder-friendly products, taking into account the risk characteristics and protection needs of the elderly population, particularly those aged 70 and above [2] - It suggests increasing the upper age limit for insurance applications and providing reasonable coverage for elderly individuals with pre-existing conditions and chronic diseases [2] - The specification also emphasizes the need for diverse medical insurance and commercial long-term care insurance products, with a focus on special needs such as disability, dementia, and living difficulties among the elderly [2] Group 3: Sales Practices and Customer Interaction - Insurance sales personnel are required to clearly explain product attributes and avoid inappropriate comparisons between insurance products and bank deposits or other asset management products [3] - The specification mandates that sales personnel use clear, understandable language and take the time to ensure elderly clients comprehend the information before proceeding [3][4] Group 4: Claims Process Improvements - The "Service Specification" promotes the optimization of claims processes for elderly clients, aiming to shorten claim times and reduce the number of steps required to complete claims [5] - It includes provisions for 24/7 reporting and claims consultation services, timely communication of claims requirements, and assistance in preparing necessary documentation [6] - The introduction of an "insurance service agency" feature allows elderly clients to authorize managers or family members to handle claims on their behalf, along with options for home claims services for those with mobility issues [7][8]