With the virtue of its establishment, TDC Life has been living up to its reputation. In September this year, BDOA Life celebrated its eighth anniversary. Over the past eight years, DHAC Life has been keeping the right course, innovating and implementing the "digitalization" strategy, continuously improving the layout of personal insurance, excellent managers and big data marketing, and developing marketing teams and business models targeting the mass market, high-end customers and post-90s Internet aborigines through digitalization and product and service innovations, as well as insisting on the development of a long-term marketing strategy. Through digital empowerment and product and service innovation, we have developed marketing teams and business models targeting the mass market, high-end customers and the 90s Internet natives, and persisted in developing long-term term value business and protection business, with a number of operating indicators better than the industry average.
Exploring innovative business models
Steady development
In September 2013, DHB Life Insurance Co., Ltd. was born in the beautiful spring city of Jinan. As the first national life insurance corporation headquartered in Shandong, DHAC Life has always centered on the brand elements of "German quality" and "state-owned credit", and adhered to the business strategy of "keeping the right things in order to make the right things happen". With the business strategy of "keeping the right and making the best", focusing on high-quality development, DHAC Life strives to explore an innovative business model that adapts to the insurance market environment, conforms to the requirements of the regulatory policy, and follows the company's business strategy, in order to provide high-quality insurance services for the majority of insurance consumers, and is committed to becoming a successful model for joint venture life insurance companies in China.
Since its establishment, DHAC Life has been focusing on the strategic policy of "deep plowing in Shandong", and has continued to promote the establishment of provincial institutions, which has improved the network layout of the provincial institutions, laying a solid foundation for the company's long term sustainable development and better serving people's livelihood in Shandong. Meanwhile, as a national life insurance corporation, the Company is actively promoting the pace of national expansion on the basis of "deep plowing in Shandong", contributing to the development of Shandong's financial services industry out of Shandong and towards the whole country. As of the end of August 2021, DHAC Life has opened 4 branches, 29 central branches and 99 marketing service departments/branches across the country, and in February 2021, the Henan branch was approved for construction, and the preparatory work is underway.
After eight years of steady development, the company has finally seen the growth of a thick and thin layer of resources. 2020, under the regulatory guidance of returning to protection and the superimposed impact of the epidemic, the new policy standard premium of DHUA Life's individual and other value long-term term and protection businesses still exceeded 500 million yuan, with a year-on-year growth of more than 30% against the trend, and the online channel continued to make great efforts to reach 920 million yuan of new policy scale premiums in the whole year, which helped the company stand on a platform of 2 billion yuan of scale premiums in the same year. In the first half of 2012, under the difficult environment of the industry, the company focused on the annual operating theme of "Anchoring Value, Lean and Aggressive" and insisted on the development of long-term paid value business and protection business, with premiums reaching 1.061 billion yuan and new policy standard premiums reaching 3.3 billion yuan. The scale premiums reached RMB1.061 billion and the standard premiums of new policies reached RMB389 million, an increase of 92% compared with the same period last year. Since its establishment, DHAC Life has realized premiums of over RMB 7 billion. Long-term value business has made significant breakthroughs, and the company's online sales channel continues to be the first echelon of joint venture companies.
Firmly implementing the "digitalization" strategy
Continuously improving the layout of the large personal insurance business
Recently, DHB Life's "Digital Health Service" and "Big Data Marketing Service" have been launched, and DHB Life's "Digital Health Service" and "Big Data Marketing Service" have been launched. Trend Radar 2021" report. The report, jointly published by Munich Re and ACE, aims to raise public awareness of future tech trends, provide insight into the tech needs of the global insurance industry, and propose MRC/ACE solutions.
Technology helps make life better with insurance. DHAC Life has always insisted on leading the high-quality development of the company through scientific and technological innovations. Since its opening in 2013, DHAC Life has positioned digitalization as a corporate strategy that goes hand in hand with the personal insurance channel, and is committed to becoming the most recognizable life insurance service provider with the best user experience in the digital era. In order to achieve this goal, DHB Life has laid out its strategy in many dimensions, including channels, products, management, services and marketing, and has already achieved 100% online billing as early as 2016, and is now one of the first companies in the industry to realize full-process digitalization of its business.
On the basis of continuing to improve the two core digital tools, namely, the "Anguo Winner APP" and the enterprise WeChat platform, DHEC Life has re-planned and developed the official micro public number, official website and the "Anguo eJia" mini program, to create a user-friendly environment for acquiring customers - attracting traffic - converting users - from multiple dimensions. -At the same time, the Company has vigorously promoted the application of artificial intelligence technology, and completed the launch of 16 intelligent robots, such as intelligent underwriting, intelligent claims, intelligent quality inspection, intelligent outbound call, electronic return visit, seat assistance robot, and fund management, etc. The Company, through continuous promotion of digital empowerment, has completed the launch of 16 intelligent robots. By continuously promoting digital empowerment and focusing on the goals of increasing production, lowering fees, improving efficiency, risk control and enhancing customer experience, the Company has continued to "empower the front office organization" through the construction of the digital middle office and online customer acquisition, sales, and employee recruitment to meet the diversified insurance needs of consumers. At present, digitalization has permeated all areas of the company's operations, and the company's digitalization level has been at the forefront of the industry and gradually internalized into the company's core competitiveness.
While promoting the development of digitalization, DHAC Life has built its marketing team and business model around the three circles of mass market, high-end customers and post-90s Internet natives, and adhered to the multi-level "big personal insurance" marketing strategy, with the personal insurance channel as the core, and diversified channels such as excellent managers, online sales, intermediaries and group insurance, to give full play to its strategic value and help the personal insurance market to grow. We will give full play to our strategic value and help personal insurance transform into a value business; take the traditional personal insurance staff and agency sales team as the foundation, build a team of excellent managers and a big data marketing team, and promote the formation of a big personal insurance layout that is coordinated and mutually supportive in terms of customer sources and private domain traffic operation, content production, operation support and product operation. In 2020, DHB Life's new standard premiums for personal insurance equivalent value new policies amounted to 531 million yuan, an increase of 34.51% year-on-year.
In the future, DHB Life will continue to firmly promote its digital strategy, use digital to enrich its marketing model, strengthen synergies between channels, increase business scale, improve management efficiency, and optimize customer experience. Applying emerging technologies such as mobile Internet, big data, cloud computing, 5G and intelligent AI to operational scenarios will reshape the company's business model, marketing model and organizational structure. Driving business development with technology, the company carries out intelligent operation and empowerment around the whole life cycle of customers and the whole process of sales, analyzes and controls new market opportunities brought by new technologies, expands intelligent application scenarios, and improves customer experience and the overall operational efficiency of the company.
Product innovation promotes differentiated operation
Actively exploring new modes of business
In recent years, DHB Life has continued to promote differentiated operation through product innovation, providing product protection solutions for exclusive customer groups, optimizing the supply of products and services in the field of health insurance, and continuously enriching product offerings based on the differentiated needs and life-cycle management of customers. In 2020, DHUA Life formally put forward its silver market strategy, committing itself to building a silver market system for the elderly to enjoy peace of mind and help them provide health management services, thus becoming a model for the company to promote differentiated management through innovation.
In response to the fact that there are relatively few exclusive insurance products for senior citizens in the insurance market, DHAC Life has leveraged the rich experience of its foreign shareholders, Munich Re and Deutsche Krankenversicherungsgesellschaft mbH (DKV), to carry out in-depth research and development of innovative senior citizens' products. As early as 2015, DHUA Life launched "DHUA Gu Xiaojianbao" Malignant Tumor Disease Insurance for the Elderly, which comprehensively compensates for the direct and indirect losses of the elderly due to their illnesses, and not only provides them with peace of mind in visiting the doctor, but also allows them to recuperate comfortably. 2019, DHUA Guanlv once again launched the "All Good" Comprehensive Medical Insurance for the Elderly, based on the practical needs of middle-aged and old-aged people. "In 2020, the company continued to iterate and upgrade, successively launching filial piety family treasure malignant tumor disease insurance (2020 version) (insured age 50-75 years old), DuoJingHao comprehensive medical products for the elderly version 2.0 (insured age 46-80 years old), and Dwarku Anguo Individual Malignant Tumor Disease Hospitalization Medical Insurance (insured age up to 80 years old). The three upgraded products for the elderly have initially formed the company's silver market strategy system. 2021, DHUA Life is exploring the development of old age annuity products, and is committed to providing the elderly with a multi-dimensional protection system of "products + health management services + wealth inheritance planning".
In addition to building a market system for the silver-haired, DHAC Life has also opened up a new model of critical illness insurance based on smart wearable devices, opening up a new digital landscape for health management services. The company joined hands with Huami Technology, the world's leading provider of smart wearable devices and algorithm services, to carry out an innovative critical illness insurance project. With the help of research results and health data from HUNT Study, one of the world's largest health research centers, and advanced technology and algorithms of Huami Technology, the company formed the core indicator PAI (cardiorespiratory function indicator, which was verified by the American Heart Association and other authoritative organizations). Through the monitoring and evaluation of the core health indicator PAI, the unique health score of Dwarku Life is formed to achieve personalized and digital health management for customers, and to effectively improve the professional level of health management services in health promotion and disease prevention, which are encouraged and supported by regulatory policies. As the company's first new model of critical illness insurance based on smart wearable devices, the agent will become the health partner of the customer and have continuous and lasting health interactions with the customer, who will be incentivized to complete the health exercise and obtain the health score to meet the standard, and the customer with improved health will be entitled to an increase in the coverage amount.
Technology-enabled system ecosystem
Making insurance service more warm
Service is the temperature of life insurance. From marketing to after-sales service, from underwriting to claims, D&G Life is committed to making its service warmer in every aspect through technology empowerment.
Against the backdrop of the "personal insurance + digitalization" strategy, in recent years, DHUA Life has built up a complete set of support system ecology from front-end customer acquisition and attraction to back-end conversion and single issuance, as well as long-term operation and maintenance of customers through the use of technology-enabled means such as big data marketing, and has gradually explored a new value business sales path for the future. The company has gradually explored a new value business sales path for the future. Starting from 2019, the company focuses on the insurance consumption needs of the "post-90s and 30s" Internet natives, and utilizes the innovative approach of big data marketing and digital reach to incubate an online sales model of long-term long-term value business, providing exclusive insurance protection services for the post-90s, who are Internet natives after they start a family.
By continuously promoting the construction of digital operation, DHUA Life has set up operation*** enjoyment service centers from the perspective of the whole life cycle of customers, and launched the "Love+" club in September 2020, which continuously strengthens the online operation capability and online service capability, so that customers can truly enjoy the company's services without leaving their homes. The "Love+" club will be launched in September 2020. At present, the average length of DHAC Life's customer service online service has been shortened from the previous 4 minutes to 3.37 minutes, with a service efficiency increase of 18.69%; electronic return visit has been launched to realize the online service of the whole process of investment and insurance, and the efficiency of the return visit of the new contract has increased by 55.90% year-on-year; and the renewal intelligent outbound robots have been launched to reach out to the customers in a multi-dimensional way and to enhance the Company's renewal service.2020, DHAC Life has made 63830 claims in the year. paid out 63,830 total claims for the year, and the average service time limit for small cases was only 4.72 hours. As the company ploughs into the field of digitization, the quality and efficiency of insurance services are improved, digital technology innovation is constantly upgraded, and the "Love+ Club Smart New Life Experience Center" was officially launched during the celebration of the Division Day, which opens up a new journey for the company's digital service innovation and exploration.
In the future, DHUA Life will further promote the development of digital transformation, accelerate the integration of technology and insurance, and achieve the goals of increasing production, improving efficiency, lowering fees, controlling risks, and enhancing customer experience through digital empowerment, so as to meet the diversified insurance needs of consumers, and commit to providing customers with the best life insurance service experience.
Practicing Social Responsibility
Communicating Insurance Love
Since its establishment, DHUA Life has continued to communicate its love and care, practicing social responsibility in a series of public welfare activities, and demonstrating its love and commitment to "state-owned credit".
Since 2013, DHAC Life and Shandong University of Finance and Economics have carried out a series of university-enterprise cooperation projects, and actively set a new model of university-enterprise cooperation through the establishment of the Shandong University of Finance and Economics - DHAC Insurance Research Center and actuarial scholarships, etc. 20 years later, DHAC Life has established a new model of university-enterprise cooperation. In 2021, the two sides continued to deepen the cooperation by establishing a major in insurance (insurance investment direction) and enrolling 100 students for fresh high school graduates this year. Through joint schooling, the two sides complement each other's strengths, reform the training mode, training content, teaching methods, etc., and increase the number of cases and practical teaching, internship training, insurance business innovation and other teaching content, so as to cultivate insurance practitioners who meet the needs of the society through professional academic training and internship practice. This will lay a good foundation of talents for the further development of the insurance industry in Shandong, and will realize the "win-win" situation that the school wins, the enterprise wins, and the industry wins.
Over the past eight years, Dwyer Life has been adhering to long-term, steady and sustainable development, innovating product and service systems, and paying attention to social responsibility, which has been widely recognized by all walks of life, and has won nearly 20 honors in the industry in 2020 alone, and has been awarded the " 2020 Outstanding Foreign Insurance Company of the Year" by the "Daily Economic News", "Investment Times", "International Financial News", "The Economic Observer", etc. Outstanding Foreign Insurance Company of the Year 2020" "Outstanding Insurance Company of 2020" "Outstanding Joint Venture Life Insurance Company of the Year 2019-2020", etc. These awards are of different scopes and weights, but all of them are These awards vary in scope and weight, but they are all magnificent footnotes to the steady development of Dewa Anguilla Life. We are committed to promoting development through excellence and enterprising, and anchoring value to create wonders. Each and every member of DHAC will live up to the expectations of our shareholders and customers, gather strength, work together and **** together to continue to write a new chapter of high-quality development.
In the future, DHAC Life will continue to rely on the strengths, expertise and experience of both shareholders, implement the policies and deployments of the governments of China and Shandong Province in developing modern insurance services, adhere to the core of personal insurance channels and digital development, and synergize the development of diversified channels to continuously innovate products and services, and provide "suitable products, professional services, and comprehensive services" for its customers, based on the Shandong Province and radiating to the whole country. We are committed to providing customers with "suitable products, professional services, comprehensive protection and solid returns", striving to become a patient listener, professional planner, loyal guardian and reliable trustee in the eyes of the public, and guarding customers throughout their lives, and striving to become a successful model of China's joint-venture life insurance companies.