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 can truly enhance the sense of gain, happiness, and security for insurance consumers.

Understanding the significance of financial consumer rights protection in the new era is crucial.

Protecting the rights and interests of financial consumers is not only related to the immediate interests of consumers but also has significant importance for 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.

Boosting consumption is a key link and an important engine for ensuring smooth domestic circulation, and comprehensively promoting consumption is inseparable from high-level consumer rights protection.

The decision of the third plenary session of the 20th Central Committee of the Communist Party of China has made the improvement of the financial consumer protection mechanism an important deployment in the sound macroeconomic governance system.

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Doing a good job in consumer rights protection has risen 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 clearly proposed that the path of financial development with Chinese characteristics must adhere to the people-centered value orientation.

Strengthening financial consumer rights protection is a specific and direct manifestation of standing on the people's position.

Since 2023, around strengthening financial consumer rights protection, from the national to the regulatory level, a number of laws, regulations, and rules have been introduced, putting forward stricter requirements for the main responsibility of financial institutions to protect consumers, building a comprehensive consumer protection system, and strengthening accountability and penalties.

It also provides 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 and ensures the safety of people's lives and property.

It is one of the industries most closely related to the people, and whether consumers are satisfied 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 the practice of insurance commitments.

In the future, the industry must also adhere to safeguarding the fundamental interests of the vast number 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.

Continuously increase 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 life and ensure that the industry is stable and far-reaching.

Understanding the connotation and requirements of strengthening consumer rights protection in the life insurance industry is crucial.

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

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

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 period, and payment methods.

On the other hand, consumers' protection needs, risk preferences, purchasing power, and financial literacy are also different.

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

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

The validity period of life insurance contracts is often as long as ten years or even decades.

Behind the policy, it contains 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 and also related to the stability of the social situation.

Life insurance companies must adhere to long-termism, adhere to stable operation, and ensure that insurance responsibilities are fulfilled in a timely and sufficient manner.

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

In recent years, China's social structure and population structure have undergone significant changes, and people's insurance needs, insurance concepts, and consumption habits are constantly upgrading.

The diversity and differences in insurance needs of different generations and groups are becoming more prominent.

To better meet the higher-level insurance protection needs of the people, insurance companies must keep pace with the times, adhere to a people-centered approach, adapt to the changes of the times, continuously innovate and change, optimize the supply of insurance products and services, expand the scope of insurable groups and range, 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 is the fundamental "source" of consumer rights protection.

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

First, strengthen the construction of consumer protection mechanisms.

Continuously promote the construction of a clear responsibility and efficient and smooth consumer protection 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 stable operation.

Adhere to long-termism, actively respond to the low-interest-rate environment, strengthen the overall management of assets and liabilities, scientifically manage the cost of liabilities, and strive to form a diversified business structure in terms of form, term, and cost.

Adhere to value investment and stable investment, strengthen research on the trend of interest rates across cycles, and make forward-looking adjustments to asset allocation to ensure the safety and stability of insurance funds, and protect consumers' "money bags" to manage medical and pension money.

Third, optimize the supply of products and services.

Adhere to a 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 pension services, and continuously improve the professional level of sales services to 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 and intelligent new technologies, optimize the cost and quality of operations, continuously improve service capabilities, continuously enhance the accessibility and affordability of insurance services, and allow consumers to share the fruits of industry development to a greater extent.

Fourth, deeply cultivate the concept of consumer protection culture.

Insist on deeply cultivating consumer rights protection in the corporate culture of insurance companies, adhere to the characteristic Chinese financial culture of honesty and trustworthiness, taking advantage of righteousness, prudent and cautious, and legal compliance.

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, insists on protecting people's beautiful life as a long-term development vision, continuously deepens supply-side structural reforms, 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, collaborative, and risk-controlled."

It has formed 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 China.

The total number of customers served has exceeded 500 million, and the number of long-term insurance policies in force has reached 328 million.

In 2023, the company's total premium income exceeded 640 billion yuan for the first time, and the number of specific groups such as the elderly, disabled, and "two new" groups insured exceeded 160 million people.

Relying on the continuous leap in digital and intelligent technology level, the claim service has become more efficient.

The number of claims settled in the year reached 22.13 million, and the amount paid was 59.9 billion yuan, with a compensation rate of 99.7%, and the claim time was 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 people-centered development concept, insist on listening to the voices of consumers, and continue to meet consumers' higher requirements and better expectations for financial insurance services with high-quality development, and contribute new and greater strength to building a harmonious and beautiful society.