The importance of protecting the rights and interests of financial consumers in the new era is continuously increasing.

Life insurance companies must deeply understand the connotations and requirements of consumer rights protection in the new era, and by accelerating their own high-quality development, they should effectively enhance the sense of gain, happiness, and security for insurance consumers.

The significance of protecting the rights and interests of financial consumers in the new era is profound.

Protecting the rights and interests of financial consumers is not only related to the immediate interests of consumers but also of great importance to building a new development pattern, practicing the concept of finance for the people, and promoting the vigorous development of the industry.

Strengthening consumer rights protection is an important focus for ensuring smooth economic circulation.

Achieving a large internal circulation is a major strategic task for promoting the long-term development of China's economy, and boosting consumption is a key link and important engine for ensuring smooth domestic circulation.

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Comprehensively promoting consumption cannot be separated from high-level consumer rights protection.

The decision of the Third Plenary Session of the 20th Central Committee of the Party has made the improvement of the financial consumer protection mechanism an important deployment in the sound macroeconomic governance system.

Protecting consumer rights has been elevated to an important focus for promoting economic development, ensuring smooth supply and demand circulation, and releasing consumption potential.

Strengthening financial consumer rights protection is an important content of practicing the people-oriented nature of financial work.

The Central Financial Work Conference has clearly proposed that the path of financial development with Chinese characteristics must adhere to the people-centered value orientation, and strengthening financial consumer rights protection is a concrete and direct manifestation of standing on the people's position.

Since 2023, around strengthening financial consumer rights protection, a series of laws, regulations, and rules have been introduced from the national to the regulatory level, putting forward stricter requirements for the main responsibility of financial institutions in consumer protection, building a comprehensive consumer protection work system, and strengthening accountability and punishment, providing guidelines and standards for the life insurance industry to strengthen consumer rights protection.

Strengthening consumer rights protection is an important foundation for the vigorous development of the life insurance industry.

The life insurance industry is an industry that directly serves to protect the life and property safety of the people, and it is one of the industries most closely related to the people.

Whether consumers are satisfied or not is the fundamental standard for judging the development of the industry.

Over the past 40 years, the life insurance industry has adhered to the people-centered development concept and has achieved vigorous development in fulfilling insurance commitments.

In the future, the industry must also adhere to protecting the fundamental interests of consumers as the starting point and foothold for development, closely focusing on key issues such as insurance protection upgrades, honest sales, and insurance claims that concern insurance consumers, and continuously strengthen the protection of eight basic rights such as the right to property safety, the right to seek compensation according to law, and the right to information security, to protect people's beautiful lives and ensure the industry's stable and far-reaching development.

Deeply understand the connotations and requirements of strengthening consumer rights protection in the life insurance industry.

The complexity and long-term nature of life insurance products and services determine that consumer rights protection in the life insurance industry has rich connotations and higher requirements.

Strengthening supply-demand matching is the primary premise for strengthening consumer rights protection in the life insurance industry.

On the one hand, life insurance product contracts often involve professional knowledge in multiple fields such as law, medicine, and finance, with a wide range of product protection scope, insurance term, and payment methods; on the other hand, consumers' protection needs, risk preferences, purchasing power, and financial literacy are also different.

Insurance companies must adhere to professional integrity, strictly implement the "three appropriate" requirements for financial products, sales channels, and target customers, and build professional sales channels and sales personnel to help consumers understand and choose the right products and services, allowing consumers to buy with confidence and use with peace of mind.

Adhering to insurance commitments is an inevitable requirement for strengthening consumer rights protection in the life insurance industry.

The validity period of life insurance contracts is often decades, even several decades long.

Behind the policy, there is the long-term trust of consumers, which is related to consumers' pension money, medical money, and life-saving money.

The timely fulfillment of life insurance responsibilities is related to the safety of people's lives and property as well as the stability of the social situation.

Life insurance companies must adhere to long-termism, adhere to prudent management, and ensure that insurance responsibilities are fulfilled in a timely and full amount.

Enriching and diversifying supply is a long-term task for strengthening consumer rights protection in the life insurance industry.

In recent years, China's social structure and population structure have undergone significant changes, and the insurance needs, insurance concepts, and consumption habits of the people have been continuously upgrading.

The diversity and differences in insurance needs of different generations and groups have become more prominent.

To better meet the higher-level insurance protection needs of the people, insurance companies must keep pace with the times, adhere to the people-centered approach, adapt to the changes of the times, continuously innovate and change, optimize the supply of insurance products and services, expand the insurable population and scope, enrich the content of health and pension products and services, and provide more simple, quality, and warm services.

Achieving a higher level of consumer rights protection through the high-quality development of insurance companies.

"How can the channel be so clear?

Because there is a source of living water."

The development quality of insurance companies is the fundamental "source" of consumer rights protection.

In the new era, insurance companies must accelerate the transformation and upgrading of insurance companies, and promote consumer rights protection to a higher level with high-quality development.

First, strengthen the construction of consumer protection mechanisms.

Continue to promote the construction of a clear responsibility, efficient, and smooth consumer protection work system, and strengthen the deep integration of consumer rights protection and insurance company governance.

Adhere to the participation of all personnel and the management of the entire process, and make efforts in aspects such as organizational management, system and process management, daily operation management, complaint dispute resolution, education and publicity, assessment and incentive, team building, and supervision and inspection to ensure that the concept of finance for the people is reflected in every detail of serving customers.

Second, adhere to long-term and prudent management.

Adhere to long-termism, actively respond to the low-interest-rate environment, strengthen the overall management of assets and liabilities, scientifically manage liability costs, and strive to form a business structure that is diverse in form, term, and cost; adhere to value investment and prudent investment, strengthen research on interest rate trends across cycles, and make forward-looking adjustments to asset allocation to ensure the safe and stable operation of insurance funds, guarding well for consumers "money bags", and managing well medical expenses and pension money.

Third, optimize the supply of products and services.

Adhere to the consumer-centered approach, grasp the new trend of insurance consumption upgrades, enhance the matching degree of product supply and demand, deeply promote the connection between insurance and medical care, rehabilitation, nursing, and elderly care services, continuously improve the professional level of sales services, and meet the growing insurance protection and wealth management needs of the people; at the same time, by strengthening refined management level and strengthening the application of digital intelligent new technologies, optimizing operating costs and quality and efficiency, continuously improving service capabilities, continuously enhancing the accessibility and affordability of insurance services, and allowing consumers to share more of the development results of the industry.

Fourth, deeply root the concept of consumer protection culture.

Insist on deeply rooting consumer rights protection in the corporate culture of insurance companies, and adhere to the Chinese characteristics of financial culture that are honest and trustworthy, take profits with righteousness, prudent and cautious, innovative and law-abiding.

Actively cultivate the spirit of contract, set an example in adhering to market rules and professional ethics, and focus on the compliance awareness of sales and service personnel to continuously enhance the confidence of insurance consumers.

China Life, as the leader in the development of the life insurance industry, adheres to the long-term development vision of protecting people's beautiful lives, continuously deepens the supply-side structural reform, actively responds to the construction of the "big consumer protection" pattern, and has built a new model of consumer protection work that is "digitally empowered, collaboratively linked, and intelligently controlling risks", forming a product system that covers all types of consumer groups and covers the entire life cycle of birth, aging, illness, death, and disability, and has created a "simple, quality, and warm" China Life service, a complete network layout, and the largest sales team in the country, with a total service customer base exceeding 500 million, and the number of long-term insurance policies reaching 328 million.

In 2023, the company's total premium income exceeded 640 billion yuan for the first time, insuring more than 160 million people in specific groups such as the elderly, disabled, and "two new" groups, relying on the continuous leap in digital intelligent technology level, the claim service is more efficient, with a total of 22.13 million claims processed throughout the year, and the compensation amount reached 59.9 billion yuan, with a compensation rate of 99.7%, and the claim time efficiency reached 0.38 days, using timely help to implement the people's position throughout.

Looking forward to the future, China Life will always adhere to the development concept of "people-centered", persist in listening to the voices of consumers, use high-quality development to continuously meet consumers' higher requirements and better expectations for financial insurance services, and contribute new and greater strength to building a harmonious and beautiful society.