HONG KONG, May 23, 2023 /PRNewswire/ — As a leading insurance company with a full license and an important participant in the national multi-level social security system, China Pacific Insurance Group (CPIC or the Group) formulated a five-year plan for the development of the health industry as early as August 2020, clarifying its development goals.
Over the past three years, CPIC has responded to changes and actively promoted its health industry strategy, achieving significant results in various aspects such as concepts, mechanisms, management, and product services. Based on its existing experience and innovative achievements, on May 20th, the Group held a press conference on the health industry strategic action plan and officially released the “352” health service blueprint to the public for the first time, outlining a bright future for the “Healthy Life, CPIC Action” initiative and taking an important step towards the construction of “Healthy China”.
To support the construction of a multi-level healthcare security system and enhance sustainable development resilience
With the aim of serving the people’s better lives and enhancing its value creation capability, CPIC adheres to the principle of putting the people first. It fully leverages its core business advantages, strengthens its insurance payment services, nurtures its service capabilities, and invests in the upstream and downstream of the health industry to build a new ecosystem of “insurance + health”. Currently, the Group has built a comprehensive health and wellness service system covering prevention, treatment, rehabilitation, and elderly care. This system has the long-term capacity to provide high-quality, integrated services that are continuously optimized.
Starting with strengthening health security, CPIC actively participates in the construction of the social security system and enhances its health product and service supply capabilities. As of the end of 2022, the Group has implemented various medical insurance cooperation projects covering 32 provinces, municipalities, and autonomous regions, serving more than 160 million insured persons; its “Hui Min Bao” project covers 15 provinces and over 90 cities, serving 53 million insured persons; it has implemented over 60 critical illness insurance projects, covering over 100 million insured persons; its property insurance long-term care insurance service covers 43.5 million insured persons, and its life insurance long-term care insurance service covers 50 million insured persons, with more than 4.2 million claims paid and over 2 billion yuan paid out in claims.
In 2022, CPIC’s health insurance premium income reached nearly RMB 77 billion, an increase of nearly 25% compared to the end of 2019. Its growth rate has been higher than the average of its major competitors for three consecutive years. The number of users of its health services increased by 150% compared to the previous year, and its customer experience is leading in the industry. The sustainable development resilience in the health industry continues to show, further consolidating the foundation for future development.
A rich layout in the health service industry and comprehensive services for the construction of “Healthy China”
According to the development direction of its health industry strategy, CPIC has established multiple service brands in the health management field, such as “CPIC Home”, “CPIC Blue Passport”, “CPIC Family Doctor”, and “YUANSHEN Rehabilitation”. Through these brands, the Group has initially established service supply capabilities covering the entire customer life cycle and forged industry-leading customer experiences. At the same time, the Group has also expanded its asset-side layout in the health industry chain, further empowering its core business through the investment and construction of health industry funds, and discovering and forging new growth drivers.
Among them, after five years of development, CPIC Home has completed the national framework layout of high-value assets in the east, south, west, north, and central regions. It has landed 13 CPIC Home retirement communities in 11 cities, and is planning to add 2-3 more projects in the coming years. Ultimately, it will form a complete system of retirement products that integrates health care, happiness, and comfort to meet the retirement needs of people of all ages. On the basis of completing the framework layout of high-value asset retirement projects, CPIC Home plans to continue iterating and upgrading to create a “3+2+X” full-scenario retirement experience.
CPIC Family Doctor has built a professional home medical service system, with a service team of nearly a thousand “in-house doctors + external experts”. The doctors have an average of 10 years of clinical experience and have provided professional and convenient medical and health services to more than 5 million users. The latest release from CPIC Family Doctor, the digital health file, is a core highlight of its home doctor 2.0 upgrade. It will become a panoramic information view of personal health records, providing decision-making basis for precision medicine and data support for health management.
In addition, CPIC Blue Charity focuses on the elderly and children, and has accumulated experience in caring for cognitive impairment and autism through public welfare practices. It has built two public welfare service systems, “Guarding Memory, Guarding Love” and “Star Anxin Autism Care”, and has initially formed innovative projects and characteristic cases that can be replicated and promoted across the country, striving to create a new ecosystem of health charity. The “YUANSHEN Rehabilitation” service brand established in 2022 will start from Shanghai and plan to build a self-owned service network of 10 rehabilitation hospitals, 20 clinics, and over 3,000 beds in core cities within five years through self-construction, mergers and acquisitions, and cooperation, building a service ecosystem of insurance + elderly care + rehabilitation.
The “Big Health” strategy is the top strategy among the three major strategies of “Big Health”, “Big Region”, and “Big Data. Based on the present, the Group will take serving the country’s greater good and serving a better life as its responsibility, adhere to its values, believe in the long-term, and continue to make progress. It will spare no effort in building a new highland for high-quality development towards the future, and opening a new chapter in serving the multi-level social security system and the construction of “Healthy China”.
SOURCE China Pacific Insurance (Group) Co., Ltd