ESG has been attracting much attention in the year of 2023, with “Green Finance “playing an important role in it. As a responsible industry leader, AXA Tianping is deeply aware of its responsibilities. We hope to review our ESG practices and demonstrate our commitments through this annual report on sustainable development.
2023 is a strategic year for AXA Tianping’s ESG implementation, committed to a four-pillar strategy around “green operation, inclusive protection, talent empowerment and digital innovation to ensure the long-term and stable development of the company.
You are welcome to read the in-depth article via the below QR code.
Under the increasingly stringent regulatory environment, the requirements for transparent risk management under solvency II as well as the company’s compliance management practical development, the first cross-departmental training on corporate- compliance & risk management was convened, adopting online + offline format, thanks to the organization of compliance, risk and MKT. This was a specialized training for colleagues following the training of heads of various levels at the institutional year-end work conference in January. It aimed to strengthen the institutional requirements for risk management, compliance governance, marketing, reputation risk management, and other areas to ensure that each department or institutional liaison performs their duties and fulfills their responsibilities. By listening to the voices and needs of the frontline, and conducting practical case exchanges, the effectiveness of management systems and process frameworks can be ensured. More than 100 colleagues from the headquarters and various national institutions participated in this training.
Kevin CHOR, CEO of AXA Tianping, opened for the training, stressing on the importance of systematic risk management, which is the foundation of the company’s operation, and it is particularly important to raise the compliance and risk awareness of all staff and ensure the soundness and effective implementation of the system.
Richard QIU, Chief Risk Officer & Secretary of the Board of Directors; Norman LUO, Head of Legal and Compliance Department, and Eva HUANG, Chief Marketing & Communications Officer, made speeches illustrating both the group norms and daily practices need to start from two aspects: the soundness of the system and the effectiveness of compliance. Through cross-departmental collaboration, institutional culture promotion, employee training and other methods, we can build a solid risk defense line, promote the enterprise culture of compliance and law-abiding, and enhance the risk resistance resilience of the company’s operation.
Zhang Jie, Director of Learning and Development of the headquarter, introduced the schedule of this training and the competition rules of the courses. She led the online and offline participants to conduct opening interaction to break the ice, helping them quickly get to know each other within the groups and create a positive and harmonious learning atmosphere.
This training is divided into four parts: risk management, legal compliance, reputation risk and brand communication.
On risk Management, General Manager of Risk Management Department Song Youcheng introduced the risk management system and three lines of defense architecture of AXA Tianping, helping the audience to better understand, evaluate and manage risks, protect the interests of the company, and ensure its sustained development and stable operation. Operational Risk Manager Zhao Chen popularized the definition and characteristics of operational risks, processes and three major tools, and shared various categories and cases of operational risk loss events. Internal Control Manager Ouyang Shanshan introduced the definition and basic management principles of internal control from the perspective of internal control, as well as its relevance to operational risks. She also demonstrated 26 processes applicable to AXA Tianping according to the requirements of the group and the provided evaluation standards, which helped to better understand and apply internal control measures and reduce losses and risks to the company.
A special guest, Mr. Zhong Changjiang, Director of Deloitte Risk Consulting help been invited to inform the changes in the regulatory environment, standardize business operations, strengthen risk awareness, and improve response capabilities from three aspects: interpretation of new operational risk regulations, analysis of the impact of new regulations on insurance companies, and analysis of suggestions for the implementation of new regulations.
On legal Compliance， Lawyer Li Weihua from Jintiancheng Law Firm was invited to give a specialized training on the interpretation of data security regulations and their application in the insurance industry. With humorous language, excellent teaching skills, and rich practical experience in the industry, Lawyer Li helped the participants understand the key points of the “Three Laws” in an interactive teaching atmosphere, and integrated the essence into work scenarios through practical exercises.
Director Pan Mengxiang of the Regulatory Affairs and Institutional Compliance Department guided the participants to interact on site, introducing theoretical knowledge points through the creation of vivid and imaginative interactive games and scenario questions. This approach allowed for the analysis and identification of specific situations, thereby aiding in a deeper understanding and mastery of the knowledge.
On Reputation Risk， Assistant General Manager of Public Affairs and Sustainable Development, Li Sitao, provided an in-depth analysis of the current public opinion environment faced by the insurance industry. Drawing from a wealth of cases and practical experience, he detailed the principles, approaches, and strategies for managing reputation risk.
On Brand Communication, The Director of Product Marketing, Liu Chunling, presented the management methods for brand and product marketing, focusing on three aspects: the AXA Group standards, brand marketing and brand gift management, as well as product marketing management. This session helped participants gain a deeper understanding of the company’s brand’s core values, positioning, and communication methods, thereby enhancing their cognition and comprehension of the brand, and contributing to the unification of the brand image.
Finally, Dai Siyuan, the Director of the General Manager’s Office and the Chief Transformation Officer, delivered the closing summary for this training session. Based on the 2026 Group Human Resources Strategy “We Care and Dare for Progress,” he presented the learning and development system of AXA Tianping, emphasizing the importance of general knowledge, business acumen, leadership, and practical skills. This comprehensive approach to learning and development aims to equip employees with the necessary tools and capabilities to drive the company’s progress and success.
At the end of the training, the winning teams for both online and offline participation were selected based on the level of engagement throughout the day. A certificate presentation ceremony was then held to honor their achievements. Participants unanimously praised the training and expressed a high level of anticipation for future learning opportunities of this kind.
Finally, to recognize the performance of the organization in the past year, the headquarters awarded the titles of “Compliance Star,” “Compliance Shining Star,” “Reputation Risk Star,” and “Marketing Star” to outstanding partners working on the front line. These awards were presented to express gratitude and appreciation for their active participation and significant contributions to the work. Everyone has a responsibility in risk prevention, and we would like to express our gratitude to all the participants for their high attention and active cooperation. We look forward to working together to solidify the foundation of risk management, strengthen the compliant business environment, and protect the brand image of AXA.
25 employees from headquarters and branches have stood out at the end of the AXA Star Nomination, being awarded for embedding AXA values throughout their daily work. A special column has been created for us to know them better.
This month, we are delighted to share with you the stories of the Star of One AXA– Xueyi Gu, Product Manager of Health Insurance Business Department; the Star of Courage – Yuwei Jiang, Manager of PMO Project Analysis, and the Star of Customer First– Chenghui Liu, Distribution & Business Manager of AXA Global Health China.
Xueyi joined AXA Tianping in 2021 as a product manager in the health insurance team, mainly responsible for the product management of various health insurance products such as million-dollar medical treatment, million-dollar cancer prevention, and high-end medical services.
As a product manager, Xueyi brought relevant business teams together to actively promote the launch of product iteration, and effectively improved the sales volume of key product pilots. The scale of the excellent Guardian Million Dollar Medical Insurance premiums reached 90 million yuan in 2022, and the scale of the excellent Xin Xuan Medical Insurance premiums exceeded 200 million yuan by November 2023.
During the past two years since joining AXA, with the support of her colleagues, Xueyi has greatly progressed her capabilities in developing business acumen, cross-functional cooperation and critical thinking. She conducted product training, convened discussion on sales & customer needs with branches and distributors and upgraded several medical insurance products.
Q1: How does it feel knowing that you’ve been awarded as AXA Star?
I feel honored to be awarded, and I would like to express my gratitude to my leader for his guidance and my dear colleagues for their strong support.
This reward is only the starting point, motivating me to work harder. Moving forward, I will leverage the resources generated from my dear AXA family to fulfill my aspiration and combine the company’s development needs to further develop better and more competitive health insurance products.
Q2:What are your habits to keep confident, healthy and positive?
My interests expand to various areas including painting, dancing. In addition, I am a big fan of outdoor activities to be close to nature.
Q3: Please share with us a book, a movie or a theatre piece.
Recently I am reading <Principle>, a book that teaches me how to establish effective decision framework to outline my vision, my mission and my actions to achieve them. It benefits me in both work life and my personal life.
Courage has to be the essential quality that Yuwei possesses as the main driver of the company’s key projects when facing pressure and challenges is her daily routine. For instance, in the promotion of flying Tiger project, she often needs to communicate and cooperate with the heads of various lines or departments, and face experts in the field of insurance or management, with the need to adhere to her position throughout the whole time and seek the achievement of project goals with tireless efforts.
For the transformation part, he has been instrumental in organizing and coordinating the project to jointly formulate project goals and plans with relevant departments, responsible for regular tracking and reporting of the project, promoting the implementation of various strategic transformation.
When coordinating Flying Tiger project, she was responsible for tracking and reporting the process of each cost reduction lever and has successfully coordinated and promoted the achievement of the Flying Tiger project’s goals in 2023 with the support of the heads of various departments. The Flying Tiger project will continue to be promoted in 2024, and she will promote the development and implementation plan design throughout the process, tracking the progress of the project.
Q1:How does it feel knowing that you’ve been awarded as AXA Star?
Having the opportunity of joining this campaign has already been a bless, and it’s been more delightful knowing that I’ve even made it to the final list. My day-to-day work is made possible with the support of every single department and I would like to extend my gratitude to all of my colleagues without whom I wouldn’t have gone this far. I kind of feel like a little bit dramatic at this moment, and would like to take a bow and thank all of you, like an actress wining an Oscar.
Q2:What are your habits to keep confident, healthy and positive?
I’ve been making efforts to take very good care of myself lately. I do foot massage, work out very often, and enjoy being exposed in the sunshine a lot.
Q3:Please share with us a book, a movie or a theatre piece.
Recently, I’ve been reading Carsten Jensen, a Danish author. I am fascinated by his book named “We, the Drowned” which is an epic work of marine literature about three generations of people in the town of Mastar. With a thickness comparable to an epic poem, the story spans from 1800 to the end of World War II. The author uses rich strokes to describe how individuals, despite their smallness, face the sea, war, growth, and life. Although the story takes place in a distant land, it still feels like a group of ordinary people living among us. After all, the differences between people are not as great as we think.
Chenghui joined AXA Tianping AHG team in 2017 and has been fighting in the front line of high-end medical business, gradually growing into one of the business managers with the largest number of major clients and the highest premium production capacity in the team.
At present, she serves more than 1,500 high-end medical clients with total premiums exceeding RMB25 million. Thanks to her excellent English proficiency, she has provided instant and efficient services to many executives from well-known companies and foreign insured customers and has received unanimous praise from distributors and clients.
In 2023, Chenghui achieved a total premium of RMB34 million, with a target of RMB27 million, achieving a completion rate of 125%. She is THE employee with the best premium achievement and the highest total premium in AGH team, receiving high praise from customers. Meanwhile, she felt grateful to the company for trusting her with so many important clients. She will always adhere to the front line, sparing no effort in bringing more positive impact, more support, and more hope of life to Chinese and foreign customers, which is the best translation of AXA’s Payer to Partner strategy.
Q1:How does it feel knowing that you’ve been awarded as AXA Star?
It felt like winning a lottery as every single one of my colleagues is excellent enough for this award in my opinion and I would like to take this opportunity to thank my line manager, my dear fellow coworkers again for their recognition. I am thrilled!
Q2:What are your habits to keep confident, healthy and positive?
Health has been getting increasingly important for me, especially when I got sick several times this year, which is a sign that warns me to take a rest and work out more often, telling me not to procrastinate, not even for another five minutes.
I do like to read at my spare time and recommend “Wechat Read”, a very convenient application to keep reading as a habit.
Q3:Please share with us a book, a movie or a theatre piece.
The book I am reading is “Letters to a Young Lawyer”. I don’t consider myself qualified enough to give an objective evaluation so here’s a paragraph I copied from the book: “There are things that don’t need to be asked. Do it, and you’ll be right. There are results that don’t need to be pushed. Wait for it, and it will be fine. Actually, what big things are there to worry about? Life is short, and we grow old as we read.”
In 2023, AXA Tianping continued to provide convenient, extensive, efficient, and comprehensive protection and services to every customer with high-quality claims services. Here is a review on claims performance for the past year.
每一个数字背后都是坚持的守护
Behind every number, there is AXA Tianping’s Protection
Annual cumulative exceeded 3.8 billion RMB
Motor: more than 3 billion RMB
Health: more than 450 million RMB
Commercial: more than 280 million RMB
Accident: more than 96 million RMB
The overall performance has increased by about 15% compared with last year
健康险：安盛暖心陪伴，守护生命之本
Health: Act for Human Progress with our protection
Daily closure rate was 92.14%, and the closure rate of group insurance cases within two days was 99%.
Case closes around 0.06 hours at its fastest
The maximum payout was 283,700 RMB.
Age ranging from 1.2 months to 80.05 years old.
儿童健康险：以爱护佑健康，宝贝无忧成长
Children: Act for Children’s Growth with our protection
Minimum Claim Age: 1.6 months
Highest Claim Settlement Amount: RMB 96,800
Common Children’s Diseases: “Respiratory Diseases” account for nearly 70%, giving parent’s peace of mind.
全球健康险：全球保障服务，随时随地无忧守护
AXA Global Healthcare: Global Healthcare, Anytime Anywhere
The total payout amount is nearly 120 million RMB.
The highest single payout amount is 761,200 RMB.
The maximum payout amount per person is 1,028,100 RMB.
The average time for closing cases is 2.21 days.
零售险：急客户所急，及时伸出援手
Retail: Prompt and efficient aid for our customers
The fastest application and payment period for accident insurance is 1.25 hours.
Travel delay compensation has been paid nearly 4,700 times.
For overseas travel insurance: medical emergency rescue services provide a maximum single compensation of 1 million yuan.
Compensation for damaged art has been paid 82 times.
车险：全程护航，出行无忧
Motor: Worry-free Throughout the Journey
Shortest Claim Settlement Time: 10 minutes
Direct Compensation to Repair Shops rate reached 85.8%, reducing Customer Advances by RMB 940 million
Total Human Injury Advances: 10,175 cases, Amounting to RMB 250 million
Number of Motor Insurance Customers Sending Honorary Flags: or 174
商业险：为中国数百万企业客户提供商业保障及服务
Commerical: Safeguard Millions of Customers with AXA Protection
Adequate Underwriting Capacity: compensation for repairs reached to 4.569 million RMB for an air compressor that fell during the lifting process.
Worldwide Claims Settlement Network: 23% of cargo insurance and 45.6% of product liability insurance accidents occur overseas.
Affordable products for SME to solve the most troublesome issues.
线上理赔更便捷
Fast and Convenient Online Claims
One-stop online claims settlement service, making the claims application process even more convenient, reassuring, and worry-free, serving over 120,000 customers through our online claims settlement service.
Number of online claims settlement customers for motor: 102,601
Number of online claims settlement customers for retail: 24,230
Year-on-year growth: 20%
服务人群更广泛
A Wider Range of Customers to be Served
Global Health Insurance: Minimum age is 0 months and 1 day and maximum age is 75 years old.
Health Insurance: Minimum age is 1 month and maximum age is 80 years old.
Art Insurance: 82 times for Claims settlements, amounting to 2.84 million RMB as payout.
分钟级结案更高效
Cases Settled Within Minutes
Health: The fastest settlement time is only 0.06 hours
Global Health: Average settlement time for claims is 2.21 days
全面保障享安心
A Comprehensive Guard
Top 5 Health Insurance Claims by Amount:
* Respiratory Diseases: Highest Claim Amount Over 30 Million
* Digestive System Diseases: Highest Claim Amount Over 10 Million
* Fever and Cough: Highest Claim Amount Over 3.5 Million
* Urological and Reproductive System Diseases: Highest Claim Amount Over 5.2 Million
*Musculoskeletal and Connective Tissue Diseases: Highest Claim Amount Over 4.9 Million
140,000 online loss assessment claims were made, reducing vehicle travel by 240,000 times.
78% of the cases applied digitalized documents, reducing 780,000 paper consumption
Customer Recognition: 174 honor flags were presented by motor insurance customers.
Full-star Service: Motor insurance hotline service satisfaction rate is 99.9%.
As our brand promise committed, we do act for human progress by protecting what matters, and which for becoming a better partner of our customers in the upcoming new year.
在今年的315期间，围绕“金融消保在身边，保障权益防风险”的主题，总分协同推动金融宣传教育走进千家万户，充分践行了从“赔付者”到“陪伴者”的企业愿景。而在广州举行的AXA安盛 X 利物浦足球俱乐部燃情之夜，利物浦传奇球星约翰巴恩斯与安盛关注的困境儿童同台互动，不仅点燃孩子心中的“绿茵梦想”，更鼓励他们在体育精神中汲取自信与勇气。
Dear AXA Tianping colleagues:
The first quarter of Townhall meeting of 2024 was successfully convened on March 12th, in the early spring of the Year of the Dragon. The company’s management team and I thoroughly reviewed our achievements in 2023 and we collectively recognized 25 exceptional employees and 10 outstanding teams for amplifying AXA’s core values in their daily work.
While the year of 2023 has been challenging, we still managed to summon all of your joint efforts across all our business lines to achieve positive growth: the largest reduction in losses since the company became a wholly owned subsidiary, with a solvency adequacy ratio reached 239%. Worthy of pride for each of us.
This year will be a critical turning point for us as we try to build our core competitiveness in face of the industry’s high-quality development trend: “Cost reduction culture”, with a focus on our resources on building blocks for profitable and sustainable business foundations, which will uniquely position us apart from our peers.
During this year’s 315 campaign, the joined efforts from both the headquarters and branches have proved nothing but our willingness to act as protection for our customers while safeguarding their rights to preventing potential risks in accordance with the campaign theme, which has fully showcased that AXA Tianping indeed is embodying our corporate vision of transitioning our role from being simply a “payer” to becoming our customers’ “partner”.
Moreover, during the AXA x Liverpool Football Club event in Guangzhou, Liverpool legend John Barnes engaged with vulnerable children under the guard of AXA Tinaping and our long-term charitable partner Aiyou charity foundation, a great opportunity to pass the passion of the football game in their hearts, which in the long run will inspire them to draw strength and courage from the sportsmanship so that they can move forward with confidence.
在今年的315期间，围绕“金融消保在身边，保障权益防风险”的主题，总分协同推动金融宣传教育走进千家万户，充分践行了从“赔付者”到“陪伴者”的企业愿景。而在广州举行的AXA安盛 X 利物浦足球俱乐部燃情之夜，利物浦传奇球星约翰巴恩斯与安盛关注的困境儿童同台互动，不仅点燃孩子心中的“绿茵梦想”，更鼓励他们在体育精神中汲取自信与勇气。
Dear AXA Tianping colleagues:
The first quarter of Townhall meeting of 2024 was successfully convened on March 12th, in the early spring of the Year of the Dragon. The company’s management team and I thoroughly reviewed our achievements in 2023 and we collectively recognized 25 exceptional employees and 10 outstanding teams for amplifying AXA’s core values in their daily work.
While the year of 2023 has been challenging, we still managed to summon all of your joint efforts across all our business lines to achieve positive growth: the largest reduction in losses since the company became a wholly owned subsidiary, with a solvency adequacy ratio reached 239%. Worthy of pride for each of us.
This year will be a critical turning point for us as we try to build our core competitiveness in face of the industry’s high-quality development trend: “Cost reduction culture”, with a focus on our resources on building blocks for profitable and sustainable business foundations, which will uniquely position us apart from our peers.
During this year’s 315 campaign, the joined efforts from both the headquarters and branches have proved nothing but our willingness to act as protection for our customers while safeguarding their rights to preventing potential risks in accordance with the campaign theme, which has fully showcased that AXA Tianping indeed is embodying our corporate vision of transitioning our role from being simply a “payer” to becoming our customers’ “partner”.
Moreover, during the AXA x Liverpool Football Club event in Guangzhou, Liverpool legend John Barnes engaged with vulnerable children under the guard of AXA Tinaping and our long-term charitable partner Aiyou charity foundation, a great opportunity to pass the passion of the football game in their hearts, which in the long run will inspire them to draw strength and courage from the sportsmanship so that they can move forward with confidence.
Around the annual theme of “Financial Consumer Protection is Nearby, Safeguarding Rights and Preventing Risks” this year during the 315 Consumer Rights Day campaign, AXA Tianping has focused on enhancing service quality, optimizing customer experience, and promoting various types of financial rights and knowledge. The company is committed to strengthening consumers’ awareness of rights protection, guiding them to make scientific and rational investments, improving their ability to safeguard their rights according to the law, and establishing a positive image for the industry. All of this is done with the “customer first “guidance put at the center of our company.
Multi-level Complaint Handling Mechanism
AXA Tianping has established a mechanism to ensure smooth, standardized complaint handling processes, and the effective fulfillment of the main responsibility for complaint handling, thus safeguarding the legitimate rights and interests of customers.
1）24-hour hotline (95550), WeChat official account, AXA Tianping Mini Program, online customer service, and email (service_customer@axatp.com) are the established channels to ensure that customers can access professional conselling at any time, adopting an advanced service management system to quickly collect, analyze, and process customer feedback, in order to meet customer needs to the greatest extent possible.
2）Service halls and business outlets across the country are withing our customers reach, equipped with professionals for handling various customer requests and ensuring that their rights and interests are properly protected.
Diversified Dispute Resolution Mechanism
AXA Tianping adheres to the principles of prevention first, mediation priority, utilization of the rule of law, and local resolution. It strengthens the promotion and popularization of diversified dispute resolution work in finance, aiming to enhance consumers’ awareness, participation, and recognition of mediation work.
1）AXA Tianping has established a dedicated dispute mediation organization staffed by professionals who are responsible for handling financial consumer disputes. The organization aims to reach satisfactory solutions for both parties through mediation.
2）AXA Tianping has established cooperative relationships with industry associations, regulatory agencies, and other relevant parties to jointly promote the resolution of financial consumer disputes and protect the legitimate rights and interests of customers. Through these collaborations, we aim to enhance the efficiency and effectiveness of dispute resolution mechanisms, ensuring that customers receive fair and timely solutions to their financial consumer disputes.
Integrated and Collaborative Efforts
At the general meeting held on March 12th, Yang Yong, the Chief Claims and Customer Service Officer, stated, “We must adhere to a customer-centered approach and push our company’s consumer protection efforts into a new phase” – continuously strengthening efforts to protect consumer rights, solidly advancing consumer education, and taking the realization, maintenance, and development of the legitimate rights and interests of financial consumers as our starting point and end goal. We must truly safeguard the rights and interests of the people, and effectively enhance consumers’ sense of gain from financial services.
This is a positive move by the branches in Beijing, Shanghai, Chongqing, Yunnan, and other regions to actively respond to the call of regulatory authorities and the headquarters. By implementing the “joint effort of headquarters and branches in consumer protection” and bringing financial education and promotion to various occasions such as schools, enterprises, nursing homes, commercial districts, and rural areas, they are working to enhance the level of consumer protection and effectively safeguard the legitimate rights and interests of consumers. A key step towards improving consumer protection work and ensuring that consumers are well-informed and protected in their financial transactions.
Customer protection is more than just a campaign. It takes long-term commitment and dedication, as it underscores the importance of enhancing consumers’ financial literacy, awareness around financial risks, and their ability to safeguard their rights through legal means. By promoting financial policies, alerting the public to financial risks, advocating rational investment philosophies, and fostering a culture of industry integrity, AXA Tianping is actively contributing to making financial services more accessible, convenient, and satisfying for the general populace. This commitment ensures that customers’ legitimate rights and interests are maximally protected and respected. Their ongoing efforts are crucial in building a more inclusive and responsible financial system.
On March 12th, the first company townhall in 2024 was held in Ruiming. At the beginning of the Year of the Dragon, I, along with the management team, reviewed the achievements of 2023 and outlined 2024 plan, joined by colleagues from across all departments of the headquarters as well as branches and centers across the country’s remote participation.
2023 was a year full of challenges, and a year of fruition too, thanks to a set of excellent business results that worth celebrating: the company achieved a total premium income of 6.35 billion yuan, with an annual growth rate of 8%, underlined by positive growth achieved by all business lines; the annual loss decreased by 60% year-on-year, marking the largest reduction since the company was established after its full acquisition by Group; 19 branches’ profitability has been improved while the solvency ratio reached 239%, leading to an increase of 37 percentage points compared to 2022. Overall, the company achieved a score of 97 regarding the STIC. The achievement belongs to every one of you, and we should all be proud of it!
This said, the year 2024 is still a critical year to turn losses into profits. A pivotal year too, to build our core competitiveness for the future. Amidst challenging macroeconomic conditions, intensifying market competition, and a new round of financial regulatory reform, the industry is bound to move towards high-quality development. The company will follow this trend, adhere to a “profit-oriented” approach, implement a “cost reduction culture”, focus on building profitability and sustainable business fundamentals, to forge a unique development path for AXA Tianping.
In 2024, with regard to the development of all business lines: the profit-oriented approach for motor insurance remains unchanged; lossmaking branches need to mitigate losses promptly while profitable branches need to keep up with market growth and stabilize the company’s motor base. It is expected that Health focuses on new business development, refines distribution management, commercial insurance continuously improves underwriting and sales capabilities, and strictly control costs, and retail insurance maintains the superimposed profits, while exploring high-quality growth.
2024 is set to be a year of efficiency. In order to improve the medium- and long-term competitiveness, we must implement the cost reduction culture from top to bottom, improve the construction of various cost management systems, strictly control various expenses, calculate inputs and outputs carefully; concentrate resources, build core competitiveness, improve technical capabilities in pricing, underwriting, and claims handling, and enhance the efficiency of sales and claims handling through digitalization. At the same time, we need to consolidate the foundation of consumer protection and compliance construction, and the heads of institutions should be responsible for their own territories.
Our Chief Financial Officer Pierre LAUR stated that we will prioritize business quality, focus on motor’s refined management, and continue to promote high-quality transformation in non-motor. We will work together to promote cost control, resolutely achieve profit targets, and explore sustainable business methods.
Richard ZHOU, the Executive Vice President and Chief Distribution and Sales Officer of the company, shared with all employees the company’s full-risk premium task and growth target for 2024, and stated that the company will ensure the achievement of business goals by implementing cost priority and value-oriented culture, and implementing sustainable development and other measures.
Scott YIN, Assistant General Manager and Chief Actuary & Pricing Officer, introduced the priorities of motor in 2024, focusing on reducing losses for loss-making branches, strictly implementing commission quota management, and reducing customer acquisition cost losses; promoting the development of profitable branches, coordinating the development pace of necessary business and emerging business, and serving as a stabilizer and booster for the entire company.
Fred DING, head of Health, proposed to accelerate the transformation of health insurance in 2024, which would be achieved through four dimensions: headquarters empowerment, branch deployment, distribution development, and added customer value, aiming to consolidate transformation results and improve professional capabilities.
Shaw ZENG, Chief Commercial Officer, summarized the performance of commercial insurance in 2023 as “both opportunities and challenges coexist”. He proposed that in 2024, profitable growth should be achieved, and clear requirements were put forward for the premium, management cost, underwriting and claims settlement of commercial insurance.
Yong YANG, Assistant General Manager and Chief Claims and Customer Service Officer, emphasized the significance of consumer protection work, which is not only the focus of regulatory attention, but also the key to implementing customer-centered approach. He required the continuous improvement of consumer protection work mechanism, strengthening the efforts of consumer protection work, and contributing to the achievement of the annual business objectives through measures such as reducing losses in claims, integrity compliance management, and risk prevention.
25 colleagues from headquarters and branches were awarded the 2023 AXA Star, and 10 outstanding teams were honored with CEO Awards. They jointly interpreted AXA’s core values of customer first, courage, integrity and One AXA.
A year’s plan starts with spring. AXA Tianping will continue to move forward with determination, and open a new chapter of sustained profitability and high-quality development!
From March 16th to 17th, as the global training partner of Liverpool Football Club, AXA brought an unparalleled and unforgettable experience to football fans through the football club night held by Liverpool in Guangzhou.
“Feel and Experience Anfield”
Check in at the “Anfield’s Signature Player Tunnel at Anfield Stadium
Passionate Football Night
Liverpool Football Club’s legendary superstar John Barnes was introduced on stage, followed by a wonderful introduction of the cooperation between AXA and Liverpool by Ms. Huang Changqing, Chief Marketing and Communications officer of AXA Tianping.
A Long-Established Cooperation
The cooperation between AXA and Liverpool began in 2018, with both parties committed to promoting physical and mind health, motivating and encouraging Liverpool fans and AXA customers to move forward and become better versions of themselves. Dong Mingming, General Manager of AXA Tianping Guangdong Branch, Liu Gang, General Manager of AXA Tianping Shenzhen Branch, and Wen Jialiang, General Manager of AXA Tianping Insurance Sales Co., Ltd., presented Barnes with beautiful gifts symbolizing good luck and expressed sincere wishes. In return, John Barnes gave them an AXA training jersey signed by three Liverpool legendary stars.
Confidence is what makes you progress
Children from vulnerable communities are what AXA and its long-terms charity partner, Aiyou Charity Foundation have been focusing on for the past years. At this occasion, Aiyou Charity Foundation and the Guangzhou Faze Community Public Welfare Foundation were also invited to attend this event. John Barnes interacted with the children on stage, sharing life experiences while carefully answering every question they asked, encouraging them to persevere and move forward, and igniting the children’s dream of football.
Ms. Hou, who accompanied the children to the event from the Guangzhou Faze Community Public Welfare Foundation, said, “I sincerely thank AXA for bringing this unforgettable experience and opportunity to the children. Through interacting with the football star on stage, the children have not only improved their self-confidence and language skills, but also laid a solid foundation for their better growth. As the saying goes, ‘The long wind will break the waves, and the cloud-lined sails will cross the vast sea.’ These bits of happiness will become treasures accompanying their growth. I believe that in the future, they will write their own chapters of life with enthusiasm, confidence, and perseverance.”
An Unforgettable Birthday Party
A birthday party was prepared, where Barnes led the audience in singing the birthday song, marking an unforgettable collective birthday for the children and fans on the scene.
Afterwards, the anthem of Liverpool spirit, “You’ll Never Walk Alone”, came on stage, filling inspiration and courage in the hearts of the audience.
A night with Passion
Brilliant performances were brought on the stage, igniting the stage with passion, contributing to an unforgettable experience for the audience.
Lucky draw was arranged, with every guest’s participation and engagement, immersing themselves in the joy of football. A night with great gains.
The branches of Suzhou, Shanxi, Foshan, and Shaanxi have been honored on the annual promotion list in 2023, based on the “Management Measures for the Classification of Second-Tier Organizations of AXA Tianping Property Insurance Co., Ltd. (2023 Revision)”, Worth the time for a virtual tour!
“It is a great honor to be selected, recognizing our efforts while at the same time laying expectations for us. Thanks to the strong support and assistance from the headquarters that we received in 2023, as well as hard work and dedication of our colleagues across the branch, we managed to overcome the difficulties and challenges in this trying time.
In 2024, we will focus on profits, and strive for sustainable business development.
“Trying to cross the frozen Yellow River, one finds the ice jamming the riverbed. Attempting to climb Mount Taihang, one meets snow covering the mountain peaks. But the strong wind will break the waves, and there will be a time for that, directly raising the cloud-like sails, we will navigate the vast sea.” Using lines from Li Bai, this description aptly reflects the business operations of Shanxi Branch in the first and second halves of 2023.
In 2023, the entire team in Shanxi was fully confidant and is ready to embark on a new journey. During the first half of the year, everyone worked together with unity, demonstrating a brand-new spirit. However, faced with fierce market competition and gradually increasing costs, the business continued to decline, leading to a crisis in morale. In this difficult situation, under the guidance of the headquarters, we strengthened our basic operations, re-screened business channels, optimized insurance product structures, and each department proactively deepened cost reduction and efficiency enhancement measures to seek breakthroughs. When the turning point appeared, we quickly acted and adjusted, reversing the passive situation and achieving certain results.
Going forward, we will firmly anchor our business objectives and, under the guidance of the headquarters, ride the wind and waves, go all out, to ensure the steady operation of motor insurance and the breakthrough of non-motor insurance business, achieving profitable growth for the branch!
The year 2023 has passed in the blink of an eye, and we are extremely honored that the Foshan Branch has been promoted to Level 4 among the secondary institutional classifications in the management assessment. This is a testament to the recognition of our efforts and accomplishments in the past year “We are grateful and determined to improve” is what we want to say at this moment.
The tireless guidance from the headquarters are highly appreciated, helping us sort out the best course of action for us to progress. The relentless ascent of diverse business and management metrics serves not merely as the ultimate objective but also as the propellant that ignites the passion and dedication of every employee in Foshan.
Hence, we will not stop from there. We recognize that there is still a long way to go for us to live up to the standards of the star branches. Hereby, we promise to take the past achievements as a new starting point for our work, set higher standards for ourselves. We are more than confidant to constantly improve and perfect ourselves to unite, synergy and aim higher!
We are very honored to be shining through our excellent sister branches, which will not be possible without headquarters’ guidance as well as our colleagues efforts and dedication.
Looking back on the past year, faced with intricate situations and challenging tasks, the Shaanxi team members maintained a firm goal and united efforts to achieve a financial year-on-year decrease in COR by 4.5 percentage points, upgrading from Category V to Category IV. However, we are also aware that while we have made achievements, we still face many difficulties and challenges.
With great responsibilities come great challenges, and those who persevere, and act will achieve success. Going forward, we will continue to optimize internal management, improve operational efficiency, reduce costs, strengthen team building, and maintain a humble and pragmatic attitude. We will persevere and press ahead, spurred by our horses and determined to create further success.
