Core Insights - The report highlights the significant achievements of the Shandong insurance industry in 2024, emphasizing its role in supporting the economy, enhancing social welfare, and addressing risk challenges, with a total premium income of 359.81 billion yuan and risk coverage of 438.28 trillion yuan [1][2]. Group 1: Industry Performance - The Shandong insurance industry maintained a strong position nationally, with a premium income of 359.81 billion yuan, a year-on-year growth of 4.81%, ranking third in the country [2]. - Property insurance premium income reached 98.74 billion yuan, growing by 8.12%, while life insurance premium income was 261.07 billion yuan, increasing by 3.61% [2]. - The insurance depth reached 4.40%, and the insurance density was 3981.99 yuan per person, indicating a steady improvement in residents' insurance coverage [2]. Group 2: Support for Economic Development - The industry actively supports national strategies, providing significant risk coverage for clean energy and technology enterprises, with 572 billion yuan for 709 clean energy companies and 456 billion yuan for 1,626 technology firms [3]. - Agricultural insurance saw a premium income of 8.33 billion yuan, a growth of 12.72%, providing risk coverage of 204.54 billion yuan for over 17.17 million farmers [3]. Group 3: Social Welfare Initiatives - The industry focuses on enhancing health insurance, covering over 46 million people through various medical insurance programs [4]. - Innovative products for elderly care and community services have been developed, addressing diverse retirement needs [4]. Group 4: Technological Advancements - The integration of technology in the insurance process has improved service efficiency, with applications of big data and AI in underwriting and claims processing [5]. - Digital transformation efforts have led to over 90% of business processes being digitized, enhancing operational efficiency [5]. Group 5: Social Responsibility - The industry engages in various social welfare activities, including donations and community services, demonstrating a commitment to corporate social responsibility [6]. - Initiatives promoting green finance and combating insurance fraud have been emphasized, showcasing the industry's dedication to sustainable practices [6]. Group 6: Future Outlook - The Shandong insurance industry aims to continue its robust development, focusing on high-quality growth and enhancing its service capabilities to support economic and social development [7].