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Step into Capney
China Property & Casualty Insurance Co., Ltd.
Release time:
2019-04-28
The predecessor of the People’s Insurance Company of China Property & Casualty Co., Ltd. (PICCP&C, hereinafter referred to as “PICC P&C”) was the People’s Insurance Company of China, established on October 20, 1949. PICC P&C is a core member and flagship business of the People’s Insurance Group of China (PICCGroup, ranked 117th on the 2018 Fortune Global 500). It is a large-scale, state-owned property insurance company with a long history, substantial business scale, and strong overall strength in China. Its premium volume ranks among the top in the global property insurance market. The company was listed on the Main Board of the Hong Kong Stock Exchange on November 6, 2003 (stock code: 232).
The predecessor of the People’s Insurance Company of China Property & Casualty Co., Ltd. (PICC P&C, hereinafter referred to as “PICC P&C”) was the People’s Insurance Company of China, established on October 20, 1949. PICC P&C is a core member and flagship business of the PICC Group (ranked 117th on the 2018 Fortune Global 500), a large state-owned property and casualty insurance company in China that boasts a long history, substantial business scale, and strong overall strength. Its premium volume ranks among the top in the global property and casualty insurance market. The company was listed on the Main Board of the Hong Kong Stock Exchange on November 6, 2003 (stock code: 2328).
Company Business
In the course of serving the people’s livelihood and catering to a broad customer base, the company has continuously achieved breakthroughs in various business areas, steadily expanding its underwriting scope to cover all aspects of social production and people’s daily lives. In 2017, the company’s incremental premium volume exceeded 30 billion yuan for the first time—equivalent to adding a new player that would rank fifth in the property insurance market within a single year. The number of branch offices nationwide with premium volumes exceeding 10 billion yuan has now grown to 15.
Auto insurance, non-auto insurance, and policy-based business are all firing on all cylinders. In 2017, the company’s incremental premium income from auto insurance reached 23.59 billion yuan, with its growth rate outpacing the market. Non-auto insurance premiums historically broke through the 100-billion-yuan mark. Policy-based business and emerging commercial non-auto businesses experienced rapid growth; agricultural insurance and social medical insurance premiums both exceeded 20 billion yuan, while innovative insurance premiums surpassed 10 billion yuan. Liability insurance and accidental health insurance continued to gain momentum, and new drivers of growth in non-auto insurance kept emerging and strengthening.
Driven by both online and offline sales channels, a multi-channel development model is taking shape. In 2017, the company’s auto dealer channel premiums exceeded 100 billion yuan, establishing comprehensive, end-to-end partnerships with 47 automobile manufacturers, 28 automotive dealership groups, and 10 nationwide branded automotive repair chain enterprises. The professional agency channel premiums surpassed 64 billion yuan, with cooperative relationships established with 1,368 professional agencies (legal entities). The renewal team’s premiums exceeded 20 billion yuan. The “Renbao V Alliance” platform has been fully launched, and a multi-channel development model has now taken root.
Company Advantages
Political Strengths: We are both the nurturers and firsthand witnesses of the development of China’s insurance industry in the new era. As a major state-owned insurance backbone enterprise, we fully leverage our functions of economic compensation, financial intermediation, and social governance. We actively safeguard social stability, promote economic growth, enhance people’s livelihoods, and improve social governance. In doing so, we powerfully demonstrate the sense of responsibility and pivotal role that state-owned insurance enterprises play in serving the overall development of the economy and society.
Brand Strength: Staying true to our original aspiration and keeping our mission firmly in mind, we have built a renowned brand both at home and abroad through integrity, responsibility, professionalism, and value. The company has successively become an insurance partner for major events and occasions, including the 2008 Beijing Olympic Games, the 2010 Shanghai World Expo, the 2010 Guangzhou Asian Games, the 2016 G20 Hangzhou Summit, and the 2017 Beijing Belt and Road International Cooperation High-Level Forum.
Talent Advantage: We boast a highly qualified management team and specialized technical professionals covering all core areas of property and casualty insurance. Together, we have built a high-caliber talent pool that deeply understands China’s national conditions, is rich in experience, and is capable of delivering high-quality, diversified insurance services across all insurance sectors to our clients.
Service Advantages: We have launched a nationwide service hotline at 95518, a dedicated telephone sales line at 4001234567, an official online direct-sales platform at www.epicc.com.cn, a mobile internet platform, and the “PICC” app and WeChat official account. These channels enable us to provide customers with one-stop online services—covering underwriting and claims handling—anytime, anywhere. We are also the first in the property insurance industry to introduce helicopter rescue services, offering round-the-clock, integrated land-and-air risk protection.
Network Advantages: We have approximately 14,000 branches and service outlets spanning urban and rural areas across the entire country—from Mohe in the north to Sansha in the south. Our township-level service network covers over 98% of the population, and we have established a three-dimensional sales and service network that integrates online and offline channels and combines urban and rural networks.
Technological Advantages: We boast a robust product portfolio and cutting-edge expertise, with our offerings covering all aspects of national economic development and people's daily lives, thereby meeting our clients' diverse and high-quality insurance needs. We are engaged in the integrated “sky-ground” remote sensing technology application for insurance, urban flood risk management, remote sensing-based earthquake surveys and assessments, and mobile underwriting and claims processing—demonstrating professional and modern risk management capabilities.
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