As at the end of 2018, the Company has 4,380 insurance products, and its operating activities involve all non-life insurance sectors, including corporate property insurance, home property insurance, construction engineering insurance, installation engineering insurance, cargo insurance, auto insurance, ship insurance, air insurance, space insurance, nuclear power plant insurance, energy insurance, statutory liability insurance, general liability insurance, guarantee insurance, credit insurance, plantation insurance, breeding insurance, short-term health insurance, accident insurance, reinsurance business of the above insurances and other capital operations approved by China Insurance Regulatory Commission.
The Company has aligned itself with the industrial trends and accelerated its innovation. CCIC has kept improving its products and services to meet the needs of the public and customers.
The Company has engaged in the agricultural “Insurance + Futures” project for four consecutive years. In the project, the Company used the over-the-counter put option to help corn, soybean and apple farmers diversify the risks arising from market price fluctuations. In addition, the project fully unleased CCIC’s potential of innovating products, optimized product design, and gradually put more varieties into trial operation, thereby effectively meeting demands of farmers. CCIC and China Re also worked together to develop a snow disaster remote sensing index-based insurance product for Tibetan sheep and yaks. The product leveraged satellite remote sensing data and the advantages of China Re’s catastrophic insurance platform to provide protection to farmers in Xunhua County and Gonghe County of Qinghai Province. CCIC teamed with Global Benefits Group to launch Continent Global Health Insurance in 2015, which was China’s first health insurance product that meets international standards. It is also the first premium health insurance product that targets high-end customers in China. CCIC actively promoted the business of “Project Quality Inherent Defects Insurance (IDI)”, and helped construction companies improve project quality management and lowered their capital burden. CCIC also introduced the “Insurance for First (First set of) Major Technical Equipment”. It took the lead in building the co-insurance body for first major technical equipment and formulating related standard insurance terms. By doing this, CCIC facilitated the domestic production of major technical equipment and helped machinery makers shift toward the high-end segment. Such move of CCIC also promoted the use and application of major technical equipment in China. CCIC has taken part in Ningbo catastrophic co-insurance body and Dali earthquake co-insurance body, in a bid to better support disaster relief efforts, improve livelihood and help maintain sound social order.
CCIC’s “WeChat insurance claim”, “Four Era claim” and “Smart + Care easy claim” services were named among the “10 Most Innovative Services in China’s Insurance Industry” by China Insurance News in 2015, 2016 and 2017, respectively. CCIC’s online claim handling process enables policyholders to complete the insurance claim process in an one-stop manner. Small-sum claims can be filed, handled and compensated via telephones, WeChat and Alipay, which is easy and convenient for customers. CCIC has a smart claim handling process that is driven by technology. Its OCR image recognition technology enables inputting of information of “three certificates and one card” within a second. AI technology is used for loss assessment. OBD real-time location sharing technology allows customers to wait at the site of accident and enables fast claim handling. Moreover, the AI technology made the claim handling process simpler. The smart loss adjustment made everything simple and easy. For simple cases, the pricing, loss assessment, loss adjustment, claim handling and payment processes were all automated. CCIC realized easy, fast and smart claim handling. For simple cases, the pricing, loss assessment, loss adjustment, claim handling and payment processes were all automated. CCIC showed its care for policyholders all the time. It made the insurance claim handling more customer-centered. CCIC provided “four helps”, “two waivers” and “double cares” to the insured and the injured.