CPIC RANKS FIFTH IN TERMS OF GLOBAL INSURANCE BRAND VALUE
HONG KONG, Jan. 31, 2022 /PRNewswire/ — The brand value of China Pacific Insurance (Group) Co., Ltd. ("CPIC" or the "Company"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) ranked fifth among the insurance brands in the world, reaching US$15.77 billion according to the "Top 500 Most Valuable Global Brands in 2022" list recently released by Brand Finance, the world’s authoritative brand value assessment agency. The brand value of CPIC is highly recognized due to its consistent adherence to the sustainable development strategy. The thorough implementation of the ESG development concept and steady promotion of the big health strategy are also the positive measures for CPIC to maintain long-term value.
In-depth Promotion of the "CPIC Service" Brand and Continuous Improvement of Brand Value
On 26 January 2022, the brand value of CPIC ranked fifth among the insurance brands in the world, reaching US$15.77 billion according to the "Top 500 Most Valuable Global Brands in 2022" list released by Brand Finance, the world’s authoritative brand value assessment agency; the brand strength index achieved a leap, from AA+ to AAA-, showing that CPIC’s brand image and influence on customers’ purchasing decisions have been greatly improved. It is worth mentioning that the importance of CPIC’s brand value to the Company’s value has been further enhanced. The ratio of brand value to company value reached 40%, ranking first among Chinese insurance brands and second among global insurance brands, reflecting the contribution of the CPIC brand to the overall value of the Company and highlighting the overall strength of the CPIC brand.
Not long ago, CPIC P/C and Life came out on top among 59 property and casualty insurance companies and 79 life insurance companies respectively, and its health insurance companies ranked first among professional health insurance companies according to the evaluation results of the insurance service quality index published for the first time in the industry and made by independent third party. In addition, CPIC has also won honors such as "2021 Brand Influence Insurance Company" and "2021 Excellent Competitive Brand Building Insurance Company" from 21st Century Business Herald and China Business Journal, etc. The achievement of so many honors is due to the continuous improvement of CPIC’s brand value.
Taking the 30th anniversary celebration as an opportunity, CPIC launched a series of brand rejuvenation and technology-based initiatives in 2021, so that more customers can feel the power of the CPIC brand. At the same time, based on the diversified needs of customers for "insurance products + services", CPIC has created a "Service Officer" system, which is divided into four levels from the Group to the head office, branch offices, and central branch offices. Based on serving customers throughout the life cycle, the Company provides personal service, life-long service and exquisite service in an all-round way, and further promotes the "CPIC Service" brand, which has been widely recognized by customers.
Signing the United Nations Principles for Sustainable Insurance and Thoroughly Implementing the ESG Development Concept
Under the "dual carbon" goal, the green development of the capital market has received more and more attention. CPIC actively promotes the implementation of ESG strategies, deepens the practice and dissemination of ESG concepts, and has initially established an ESG brand of "Acting together for the CPIC Green Action".
In December 2021, CPIC signed the United Nations Principles for Sustainable Insurance (UNPSI), becoming the second signatory company in mainland China. At the same time, CPIC also formally signed the United Nations Principles for Responsible Investment (UNPRI) as an asset owner and investment manager, becoming the fourth asset owner in mainland China to sign the PRI. The signing of UNPSI and UNPRI marks that CPIC has entered a new stage in its continuous implementation of the ESG concept.
In the field of sustainable insurance, CPIC continues to deepen ESG practices and integrate ESG concepts into the development and underwriting of insurance products. In May 2021, Changjiang Pension, a subsidiary of CPIC, issued China’s first ESG insurance asset management product – Golden Zeng Ying No. 6, filling the gap in the issuance of ESG products in the pension insurance asset management field; in November 2021, CPIC and its partners tailored a "carbon neutrality" comprehensive solution to help the fourth CIIE achieve "zero carbon CIIE"; in addition, CPIC has also launched a series of innovative products to promote financial institutions to help achieve "carbon peaking and carbon neutrality".
In terms of social responsibility, the "Imperial Physician Butler", a product of CPIC, has recently provided 7*24 online medical services such as online consultation, follow-up consultation, drug purchase, and drug delivery in the face of the epidemic situation in Xi’an, Henan, Tianjin and other places, providing continuous support for the anti-epidemic work with practical actions. It has cumulatively provided over 100,000 people in the three places with a 15-day free consultation service of "Imperial Physician Butler", which fully reflects the Company’s courage to undertake social responsibilities.
Promoting the Thorough Integration of Health Care, Health Pension and Insurance to Create New Growth Pole
CPIC’s big health strategy was further advanced. On January 18, Shanghai Guangci Hospital, jointly built by CPIC and Ruijin Hospital, announced that it has entered into trial operation, which means that the "2020-2025 Big Health" strategy of CPIC is being further advanced. This is the second cooperation between CPIC and Ruijin Hospital, and the Guangci Pacific Insurance Internet Hospital jointly established by the two parties has been officially put into operation in April 2021. In the future, CPIC will continue to explore regional medical alliances together with Shanghai Ruijin Hospital, and cooperate with the top Grade-A hospitals in the Yangtze River Delta and its medical alliance hospitals to jointly build a medical collaboration system based on internet hospitals.
Since last year, CPIC has actively deployed "insurance protection + health management" to promote the in-depth integration of insurance products and services, and has established a complete set of health service supply system through self-construction, cooperation, mergers and acquisitions and other methods. Among them, Guangci Pacific Insurance Internet Hospital provides 7*24-hour online consultation services for the people across the country through the "Imperial Physician Butler" for family scenarios to solve daily consultation and drug delivery requests. The establishment of Shanghai Guangci Hospital is to meet the diverse medical and health needs of mid-to-high-end customers.
The re-launch of Shanghai Guangci Hospital is the beginning of CPIC’s business expansion, indicating that CPIC’s "2020-2025 Big Health" strategy has kicked off and Shanghai’s high-quality medical services will serve the Yangtze River Delta through a digital path.
With the support of favorable factors such as policy stimulus and increased demand, the development space of the internet medical market is huge in the medium and long term. Some experts predict that the penetration rate of internet medical care will increase from less than 3% in 2019 to 16%, and the scale of the entire internet medical and health market will increase from RMB6 trillion in 2019 to RMB16 trillion by 2025.
As a leading company in the insurance industry, CPIC has gradually formed an integrated medical service supply capability covering internet medical care, offline self-built and cooperative hospitals. In 2022, CPIC will focus on customer needs to build health service capabilities covering the entire life cycle, open up the closed loop of medical, pharmaceutical and insurance services, and continue to promote the forward-looking layout of health services. With the in-depth integration of insurance products and services, CPIC will realize the coordinated development and positive interaction between insurance and services, and create a new growth pole of "insurance + health management".
In the future, CPIC will be committed to making the brand an important driving force for CPIC to build a new high-quality development in the industry based on people-centered brand positioning, customer-centered brand culture, and sustainable long-term value-centered brand creation. In addition, it will also take the improvement of people’s livelihood as its own responsibility, make a long-term layout, and strive to create and maintain a responsible and positive corporate image in various aspects such as the environment, social responsibility, and healthy pension, so as to achieve healthy and sustainable development.
About China Pacific Insurance (Group) Co., Ltd
China Pacific Insurance (Group) Co. Ltd. (hereinafter referred to as "CPIC", or the "Company"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance holding company incorporated on the basis of China Pacific Insurance Company, which was established on May 13, 1991. It is a leading insurance group headquartered in Shanghai, which is the first insurance group simultaneously listed on Shanghai, Hong Kong and London Stock Exchanges. CPIC is a leading comprehensive insurance group; the Company provides a broad range of risk solutions, financial planning and asset management services to over 100 million customers via its nationwide network of distribution and diversified services platforms.
For further information, please contact:
Wonderful Sky Financial Group Holdings Limited
Ms. Skye Shum / Cecilia Xiong
Tel: (852) 3970 2199 / (852) 3641 1300
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