Recently, Li On Life President Fu Jie accepted an exclusive interview with the media on topics such as the company’s development in 2021, the company’s new three-year/new ten-year strategic development goals and important measures.
Question 1: According to the publicly disclosed information of Li’an Life, the company will achieve a profit of 130 million yuan in 2021. The company has achieved profitability for four consecutive years, mainly due to what factors?
Fu Jie:In 2021, the company’s total assets have exceeded 72.2 billion yuan, and its investable assets will reach 70.7 billion yuan. The company has withstood many pressures from the market and achieved the goal of profitability. The company further allocated resources reasonably, optimized investment strategies, strictly implemented budgets, and effectively controlled costs. The annual net profit of 130 million yuan (consolidated statement caliber), which is also the company The fourth consecutive year of profitability is of great significance to the company’s development. Moreover, the company is determined to transform and focus on value, and the value premium in 2021 will increase significantly compared with 2020, reaching 47%.
In 2021, Leon Life ushered in the tenth anniversary of Siqing, and it is also the first year of the company’s fourth three-year plan. This year, the company adhered to the operating principles of “deepening transformation, focusing on value, sustaining profitability, and preventing and controlling risks”, and insisted on valued, high-quality and sustainable development. Under the leadership of the new board of directors and the new president’s office, the company has overcome the downward pressure in the industry, withstood the resistance of market competition, stimulated the vitality of hard work and progress, and achieved gratifying results. The company’s annual operating income was 19.08 billion yuan, a year-on-year increase of 24%, exceeding the annual target; the original premium income was 18.3 billion yuan, a year-on-year increase of 26%, exceeding the 6% growth rate of the entire life insurance market. Ranked 32nd among all life insurance companies. While the business is developing rapidly, the company has maintained sufficient and stable solvency.
Question 2: In 2021, Lion Life successfully completed the re-election and appointment adjustment of the new board of directors and the president’s office. At present, the team is stable, and various tasks are smoothly connected and progressed smoothly. Please talk about the leading role of Li’an’s party building and cultural construction.
Fu Jie:In 2021, Lee On Life has written the work of party building into the company’s articles of association. The company’s party committee has established the work philosophy of “leading the direction with party building, uniting people’s hearts with party building, and serving development with party building”, focusing on giving full play to the political core role of the party committee and the fighting fortress of the party organization. role, the vanguard and exemplary role of party members. The company has established a party-mass work department to strengthen the execution of party building work. The company grandly launched the celebration of the centenary of the founding of the party. The party organizations of all branches carried out red education according to local conditions, re-walked the Long March road, went to the red education base, and accepted the red baptism. In 2021, Lian Life Insurance, guided by party building, successfully completed the new term of the board of directors and the president’s office. According to the needs of the work, the office of the president’s office has been adjusted. The team is stable and various tasks are progressing smoothly. The company actively explores the specific form of organic integration of party leadership and corporate governance, and establishes a scientific and reasonable organizational structure, internal control system and operating mechanism, so that the responsibilities of the general meeting of shareholders, the board of directors, the board of supervisors and the management team are clear and efficient to promote the company’s sustainable and healthy development. . The company will continue to optimize the corporate governance structure and operation mechanism, continuously consolidate the governance foundation, and promote the high-quality development of the company.
The company will continue to deepen the construction of life insurance culture and the construction of life insurance professional system. These two “constructions” will be a powerful tool for the company to improve efficiency and quality, and will also be the driving force for sustainable development in the new decade. 2021 is the tenth anniversary of Li On Life. The company will continue to build a life insurance culture under the leadership of party building and further strengthen the team’s centripetal force. The company founded the “Leon Life” internal publication, which is the first publication since the company’s establishment ten years ago, and has received widespread attention from the industry. Subsequently, “National Day Special Issue” and “New Year’s Day Special Issue” were successively launched, which were warmly welcomed by branches and business teams. The company will focus on the construction of corporate culture and brand promotion at the level of “cultural benefit” as two major breakthroughs. The company will also launch the company’s training and singing, and use a unified visual logo to shape the overall internal image of the company. Organizations at all levels and internal and external service teams at all levels will take the promotion and dissemination of Si Xun Si Song as an opportunity to unify slogans, set up banners, gather people’s hearts, and establish an external image to better serve customers and the society. On August 23, 2022, Leon Life will celebrate its 11th anniversary. The company will organize a variety of activities in conjunction with the 10th anniversary celebration meeting postponed due to the epidemic, create a cheerful and warm atmosphere, and better show the society a good company image.
Question 3: Standing at the new starting point of the company’s development, please talk about the new three-year/new ten-year strategic development goals and important measures.
Fu Jie:Work hard and concentrate on the story of “Dali’an”; transform and innovate, and cast the hard core of the “new decade”. At the starting point of the new three-year development of Lyon Life, the company’s board of directors proposed the strategic development goal of “rebuilding a Lyon in three years and striving for an early listing”. Focusing on this goal, the company will comprehensively transform to high-quality development, rapidly increase the value of new business, and double the value of new business. In 2023, the total assets will exceed 100 billion yuan; the company will continue to achieve profitability in the new three years, and its financial indicators will meet the conditions for listing. The securities investment bank has drawn up a listing plan and is fully prepared to promote the IPO listing; the digital construction of key areas catches up with the industry development level; applied for the establishment of an asset management company, and formed a “group-oriented Li’an” structure with life insurance as the core; successfully explored the “insurance + health care” asset-light model.
Focusing on the strategic development goals and in accordance with the operating principles of “deepening transformation, focusing on value, sustaining profitability, and preventing and controlling risks”, the company proposed the implementation of five major categories: “China Lian”, “Cultural Lian”, “Digital Lian”, “Group-based Lian” and “IPO Lian”. Strategic Projects:
“China Li’an”: Based on Jiangsu and Nanjing, showing the advantages of the region where the headquarters is located, refreshing the company’s image, and speeding up its overall development; implementing the development strategies of “big Jiangsu”, “quaternary market” and “five provincial branches”, building a brand organization and driving the company The rise of the median will strengthen its competitiveness and service capabilities across the country.
“Cultural Li’an”: Taking the cultural characteristics of life insurance as the core, sticking to the spirit of contract and humanistic care, refining the spiritual core, deepening the core values, vision and mission, making it a powerful driving force for the company’s development.
“Digital Li’an”: with agility, technology, intelligence and customers as the core, build an intelligent platform, comprehensively build a digital service, digital sales and customer-centric digital ecosystem, and lead the company to become a life insurance company rich in modern technology.
“Group-based Li’an”: With life insurance business as the core, expand the life insurance industry chain, build several subsidiaries, and form a “group-based Li’an” structure, including life insurance professional companies, asset management companies, insurance brokerage companies, health care companies, and e-commerce companies. .
“IPO Li’an”: With the goal of listing, comprehensive preparations, formulating a roadmap, and striving to achieve listing in three years, making Li’an a public company favored by the market and with great potential.
Question 4: 2021 is the “Internal Control and Compliance Management Construction Year” of Li’an Life Insurance. Since the middle of 2021, the company has had zero new violations. Could you please tell us what fruitful measures the company has taken in terms of internal control and compliance?
Fu Jie:2021 is the company’s “Internal Control and Compliance Management Construction Year”. The company has carried out a series of special rectification work and fully established a compliance management system. The company’s comprehensive risk rating in the third quarter of 2021 will be Class A. With the joint efforts of the whole company, the corporate governance evaluation level has made great progress compared with the previous year. In 2021, the company’s leaders took the initiative to visit the China Banking and Insurance Regulatory Commission and the local banking and insurance regulatory bureaus to introduce the company’s business development and listen to the requirements and guidance of local regulatory agencies. Anhui, Henan and other bureaus.
In July, Jiangsu Banking and Insurance Regulatory Bureau conducted a SARMRA on-site evaluation of the company. While affirming the company’s solvency risk management work, it also put forward evaluation and rectification opinions. Beginning on September 22, Jiangsu Banking and Insurance Regulatory Bureau carried out an on-site inspection of the headquarters for nearly three months. The Provincial People’s Bank conducted a special inspection of the company’s investment business. The branches in Anhui, Henan and Shandong also accepted the on-site inspection of the local banking and insurance regulatory bureaus. During the on-site inspection, the company actively cooperated with the inspection team to do a good job in the on-site inspection work, and will follow up on the rectification progress of the problem regularly to ensure that the rectification is completed on time. Important tasks such as complaint handling, group complaint incidents, major and important cases, and anti-money laundering have been carefully implemented and comprehensively controlled.
Thanks to the high attention of the company, from the middle of 2021 to the present, the company has zero new violations. In 2022, the company will deepen the annual requirements of internal control and compliance construction to ensure safe production without accidents; strictly prevent case risks, and strive to ensure zero new risks in 2022.
Question 5: You mentioned the “quaternary market” in the layout of “China Li’an” earlier. Could you please talk about how to divide the “quaternary market” of the management company?
Fu Jie:Since 2018, my country’s life insurance industry has entered a period of transformation and adjustment, and the growth rate of premiums has continued to decline. In the past two years, affected by the economic downturn, the continuation of the epidemic and the transformation of the industry, the scale of the agency and new order business continued to decline, and the new order business of some companies experienced negative growth for three consecutive years. However, the long-term positive trend of the industry has not changed. The life insurance industry is still in a period of important strategic development opportunities, and development is still the last word.
Lion Life’s development in the new three years focuses on institutional performance. The company’s idea of expanding and strengthening its branches is to manage the quaternary market by category. One yuan market (B1) is an old provincial branch, including Jiangsu branch and Anhui branch. It has been established for a long time and contributes greatly to premiums. The Binary Market (B2) is a new provincial branch, including five provincial branches in Shandong, Hebei, Henan, Sichuan and Hunan. Sanyuan Market (B3) is a branch in central cities, including branches in Beijing, Shanghai and Nanjing. Quaternary Market (B4) is a branch of T3 upgraded to T2, including Changzhou branch and Nantong branch.
For the quaternary market, the company adopts classified management. Strengthen B1, strengthen Jiangsu and Anhui branches, and continue to lead. Expand B2, build five provincial branches, increase the quantity and quality of T3 and T4 institutions, and improve the local influence, management level, operational capability and risk control capability of the institutions. To do fine B3, the Beijing, Shanghai and Nanjing branches should put the efficiency index in the front and improve the business quality. Improve B4, consolidate the market position of Changzhou and Nantong secondary branches, and continue to improve in important business series such as bancassurance regular payment, individual insurance, group insurance, and brokerage. Strengthening B1, expanding B2, refining B3, and improving B4 are the company’s market business strategies. Among these four strategies, the focus is to build five provincial branches.
In the new economic layout, the country has highlighted strategies such as the integration of the Yangtze River Delta, the integration of Beijing-Tianjin-Hebei, and the integration of the Greater Bay Area. Based on the new development stage and integrating into the new development pattern, Lion Life will make full use of the policy opportunities of regional economic integration, make a good institutional layout for the whole country, and focus on expanding business in the Beijing-Tianjin-Hebei, Yangtze River Delta and Pearl River Delta regions. The company will focus on building companies in Shandong, Henan, Hebei, Sichuan, and Hunan provinces, building brand institutions, driving the company’s median rise, and maintaining the top 30 in the market in terms of original premium income, and striving to enter the nearly 20. At present, Li’an Life Insurance Tianjin Branch has been approved and is in preparation. At the same time, Hunan’s Hengyang and Yiyang middle branches have been approved to open, and 2 middle branches and 6 county-level institutions have also been approved, and it is expected that they will open in the first quarter of this year.
Question 6: 2022 is the “Year of Customer Service” for Lee On Life. Please talk about the current new concept of customer service and the construction of customer service system.
Fu Jie:What we Lian implements is “service marketing”. Service is marketing, and service is marketing. Service marketing is the integration of company resources, starting from service, to meet the insurance needs of customers. The focus is on customer acquisition, retention and customer experience. Focus on the fun and experience of customers. Strong interest, pleasant experience, and active consumption are high-quality marketing.
The concept of life insurance companies or the life insurance industry is to “respect the sky and love people”. Respecting the sky means cherishing the strategic opportunity period, cherishing this industry, cherishing customers, and cherishing the ecology. This is God. Lover means we have to love this team, our sales team management team, and our own employees. The cultural core of life insurance is a contract, and the contract is with the customer for a long time. Therefore, we should make the customer service a warm and deep one, and then generate value from the service through the friendly relationship with the customer.
2022 is the year of customer service of Lion Life, and the theme of the year of customer service in 2022 is the embodiment of IPO Leon, Group Leon, China Leon, Cultural Leon and Digital Leon in the three-year plan. Analyzed from the customer level, grasped customer needs and customer experience, and integrated the concept of big customer service and big individual insurance in each section with customer service. The company will make efforts in the direction of standardization of basic services, ecologicalization of value-added services, and intelligent self-service through cultural leadership, system operation, and organizational guarantee, and strive to make the company’s customer service the first in the industry within two to three years.
In terms of cultural leadership, we will build a “big customer service” system, strengthen the close interaction between the back-up and the front line, and enrich the service content. Establish a professional service concept. Drive value business expansion with services, create a professional, transparent, convenient and warm service image, further enhance service capabilities and enhance the company’s soft power.
In terms of system operation, by creating standardized customer service counters, the brand-new image of Leon customer service counters will be displayed; around the theme of “healthy life is born for goodness”, value-added services will be optimized, business teams will be empowered, corporate brand image will be shaped, and customer experience will be improved; Explore intelligent services, promote the IVR intelligent voice navigation project, build an online service platform for group customers, and strengthen the construction and utilization of call centers; strengthen communication with business channels, make joint efforts, empower business teams, and facilitate business development.
In terms of organizational security, unified management, unified customer classification standards, and unified procurement service providers. Do a good job in manpower security, strengthen the construction of consumer protection teams, ensure the coordination and organization of services such as health management, psychological counseling, and legal aid, and develop new value-added service projects. Do a good job in information technology support, develop APP, open up circulation channels for customers, business personnel, and service providers, and form a closed-loop service process of “provide, publicize, use, and feedback”. Use technical means to track and count the promotion and usage of services, increase the actual utilization rate of value-added services, improve customer satisfaction, and improve customer service experience.
Question 7: The national “14th Five-Year Plan” for the first time proposed to implement the national strategy to actively respond to population aging, and to accelerate the construction of a system to actively respond to population aging. At present, many life insurance companies are laying out the health care industry. In your opinion, how can Lee On Life integrate and develop “insurance + health care, health care, and medicine” in serving the national economic strategy?
Fu Jie:With the rapid development of population aging and the continuous improvement of population life expectancy, China has entered the era of longevity. my country is faced with the problem of insufficient pension reserves and the challenge of insufficient health care and nursing care. There will be more favorable policies around pension finance, commercial pension insurance, medical and elderly care integration, and pension services.
In order to actively explore the development path of “insurance + health care”, the company set up a special research group, and successively went to Japan FB Company, Japan Medical Museum and Japan Life Insurance Company to conduct on-site business inspections and research exchanges to understand the mature Japanese pension industry. The old-age concept, service system, operation mode and its successful experience have a relatively deep understanding of Japan’s nursing insurance concept and old-age service structure, which will help the company to base itself on the Jiangsu market, give full play to its own advantages, and explore and develop old-age health care with Leon’s characteristics. The new model of service has made the necessary knowledge reserve. The company’s new three-year plan has determined to explore the successful “insurance + health care” asset-light model. In the early stage, in the aspect of combining “care, health and medical care”, it has successively cooperated with companies such as Jiangsu Trust, Yurun Real Estate and Fosun Health Care to discuss “insurance”. Business exchanges were conducted on the development prospects, development models, and cooperation fields of “+Healthcare”.
In the next step, the company will set up a project team to integrate resources from all parties, promote the “insurance + nursing, health, and medical” strategic project, and try to deploy the nursing, health, and medical industries in an asset-light mode to achieve resource integration and sharing and complementary advantages; another In terms of aspects, it is also considered to start from the three directions of “insurance + pension”, “insurance + health service”, and “insurance + medicine/medical care”, focusing on the light asset procurement service model, relying on third-party cooperation to consolidate the service foundation and expand services. and gradually transition to the mode of combining light and heavy, to be both the owner of the elderly care community and the operator of the elderly care community, to provide multi-level and personalized health care services, and to play a role in serving the national economic strategy. make a contribution.
(Qilu Evening News Qilu One Point)