SHANGHAI, Dec. 23, 2024 /PRNewswire/ -- In December 2024, China Pacific Insurance Company (CPIC) celebrates the 15th anniversary of its H-share listing.
Since the release of the "Development Programme of the Guangdong-Hong Kong-Macao Greater Bay Area," the three places have worked closely together to enhance their connectivity, integration and alignment. To further contribute to the development of the Greater Bay Area (GBA), CPIC Life, a subsidiary of CPIC Group, adheres to the customer-oriented business philosophy and adopts multiple steps to provide even better insurance solutions to its customers in the area via "responsible, intelligent and caring" CPIC Service.
Launch of "CPIC Home Privileges" in response to the trend of "northbound retirement "
CPIC Life (HK), a subsidiary of CPIC Life established over 2 years ago, is committed to providing the best wealth management, health and retirement solutions. Since the Hong Kong SAR government encourages local residents to spend their retirement life in China's mainland, the company launched "CPIC Premier Club" and offers eligible members of the club the "CPIC Home Privileges", which allows them and their immediate family members to apply for admission in any retirement community under CPIC Home that has opened for business. In a sense, one insurance policy now covers retirement of three generations.
In October 2024, the company realised direct payment of retirement community expenses with insurance benefits of Hong Kong issued policies. Customers simply need to complete an authorization form and then the insurance benefits can be withdrawn and transferred directly to pay for expenses relating to retirement communities, such as the annual housing fees. The arrangement considerably simplifies cumbersome procedures in cross-border payments and currency exchanges. It is also part of the big effort to assist Hong Kong residents seeking to spend their retirement life in the mainland and ease the fiscal pressure on the Hong Kong government amid an aging population.
Debut of an upgraded "Welcome Call" system driven by new technologies for overseas customers
Making the welcome call to new customers from Hong Kong, Macao and Taiwan, as well as those with foreign nationalities has long been tricky, because for a long time the system could only identify the 18-digit ID card of China's mainland. The Shenzhen branch of CPIC Life launched a new welcome call system in September 2024, which supports identity verification through facial recognition of customers with Hong Kong, Macao, and Taiwan travel permits or foreign permanent residence. In October, the system completed a test run and successfully passed the production verification. It proved to be efficient and user-friendly and received recognition from both customers and sales teams.
The new system incorporated OCR and facial recognition technologies for ID documents of customers from Hong Kong, Macao, Taiwan and foreign countries, expanded coverage of electronic services such as receipt acknowledgment and correspondence handling. The new functions streamlined the welcome-call procedures for new customers with overseas ID, enhanced the accuracy and user-friendliness of the welcome call, offered an efficient, secure option of ID verification for overseas customers, and ensured easy, secure and equitable access to financial insurance services by all kinds of customers.
One-Stop comprehensive solutions across four dimensions
CPIC Life wants to be more involved in the development of the GBA. Its Guangdong branch launched the family office of wealth management to address needs of HNW clients across multiple dimensions, i.e., household, business, personal and life. The family office initiative realigns resources allocation and provides one-stop comprehensive solutions to HNW customers.
The company has established the "Golden Triangle" system of products / services, with three core value propositions of "health, retirement and wealth". In health management, it offers a wide spectrum of services such as the CPIC Blue Passports, cell storage and cell rejuvenation; in elderly care, it launched CPIC Home retirement communities and home-based care, with a total of 15 retirement communities under CPIC Home in 13 cities nationwide, nine of which are operational; in wealth management, the company provides trust service of insurance benefits and family office service to HNW clients to satisfy their needs for money management and wealth succession, marking a milestone in the wealth management service of the company.
CPIC Life will deepen its presence in the GBA and persist in the customer-oriented philosophy. On the one hand, it will leverage resources of CPIC Group to enhance product and service integration; on the other hand, it will enhance collaboration with third-party outfits in legal service, trust, education and especially higher education, and health management in bid to meet personalized needs of customers and contribute to a better life of the people.