Core Insights - The insurance industry plays a crucial role in economic development and improving social welfare, with total assets exceeding 40 trillion yuan and cumulative payouts reaching 9 trillion yuan, marking a 61.7% increase compared to the "13th Five-Year Plan" period [1] - During the "14th Five-Year Plan" period, the insurance sector has focused on high-quality development, enhancing its comprehensive strength and achieving new breakthroughs in serving the real economy and social welfare [1][3] Group 1: Economic Impact - The insurance industry has provided risk protection across various sectors, contributing to national strategies and addressing weak links in the economy [1] - Cumulative risk protection provided by the insurance industry during the "14th Five-Year Plan" period has exceeded 10 trillion yuan, supporting over 3,600 innovation application projects [2] Group 2: Technological Innovation - China Life Insurance has developed over 200 technology insurance products, providing risk protection exceeding 4 trillion yuan since the establishment of the integrated circuit co-insurance system [2] - The insurance sector has supported significant projects such as the Long March 8 remote sensing satellite and the domestically produced C919 large passenger aircraft, with over 300 billion yuan in coverage [2] Group 3: Social Welfare - The insurance industry has expanded its capacity to improve and guarantee social welfare, with major projects covering over 12.2 billion urban and rural residents for critical illness insurance and 1.8 billion people for long-term care insurance [3] - Commercial health insurance has provided economic compensation of 1.8 trillion yuan to those affected by illnesses over the past five years [3] Group 4: Disaster Risk Management - The insurance industry has established a national disaster risk map and a digital risk warning network, with cumulative payouts exceeding 150 billion yuan for disasters such as floods and earthquakes during the "14th Five-Year Plan" period [4] - From 2024, catastrophe insurance will cover common natural disasters in China, with a minimum coverage amount doubled, providing 22.36 trillion yuan in catastrophe risk protection for 64.39 million households [4] Group 5: Comprehensive Insurance Services - The insurance sector has formed a comprehensive insurance service system focusing on risks related to aging, illness, disasters, and poverty, optimizing the allocation of risk resources across society [5]