In order to implement the company’s high-quality development strategy and safeguard the company’s operation, the entire staff of the Claims and Customer Service Center of the head office recently held a kick-off meeting for the “Thunderbolt” action at Jinqiao workplace. The meeting focused on the theme of “inspecting illegal operations and strictly investigating internal fraud”, aiming to unite efforts to build a strong and incorruptible claims team with high combat effectiveness.
At the kick-off meeting, Yang Yong, Chief Claims and Customer Service Officer of AXA Tianping, emphasized the importance of integrity and self-discipline for claims positions. He urged all personnel to remain clear-headed, adhere to integrity, abide by the law, and follow the rules. He expressed his hope that the claims personnel could truly practice the values mentioned above, and continue to intensify the efforts in conducting internal anti-fraud work to safeguard the company’s sustainable development.
Following the session, claims across various branches will also sign the “Collective Commitment for Integrity and Honesty of Claims and Customer Service Personnel”, jointly committing to follow all the company’s claims processes, abide by the company’s rules and regulations, and safeguard the interests of customers.
With the in-depth implementation of the special action, the follow-up work will include the screening of “abnormal behavior” of claims personnel, the “re-examination of old cases” of high-risk cases, the review of complaint cases, the review of cases involving personnel with abnormal indicators, the inspection of cases with repeated payments to payees, the inspection of internal fraud risk prevention and control work, and the conduct of warning education and training. All these efforts will ensure that the special action is steadily implemented in a down-to-earth manner.
AXA’s All-Staff Volunteering Week kicked off from June 3rd to June 7th, embodying Group spirit “AXA Hearts in Action” partnering with Aiyou Charity Foundation to ensure safe and sanitary water for children in the Naituo Town Central School in Liangshan Yi Autonomous Prefecture, Sichuan Province.
This year, we continued to expand our commitment in the field of corporate philanthropy, engaging employees from across branches. In just five days, the “WeChat Step Donation Challenge” initiated through “Emma by AXA” has attracted a total of 5,223 participants, generating a donation of 31,413,483 steps.
This year’s campaign boasts several highlights: First, volunteering hours have significantly increased, rising from 5,246.5 hours last year to 11,804.6 hours this year; the number of volunteers has grown, with participation in the step donation increasing from 5,163 last year to 5,225 this year. Furthermore, local volunteering activities have been organized in Shanghai and Zhejiang, greatly enriching the diversity of volunteering week activities through active innovation.
With the enthusiastic support of the staff, a total of 90,000 RMB cash donation has been collected to install reverse osmosis water purification equipment for the central school in Naituo Town. On June 18th, the reverse osmosis pure water equipment was installed, ensuring safe and sanitary water for teachers and students in the school. Meanwhile, it has also been planned to launch a science education program focused on the theme of scientific water use for the children leveraging the Children’s Home set up by the Aiyou Charity Foundation in the local area, apart from purchasing health packages such as kettles, insulated cups, and hand sanitizers, to further enhance the children’s health awareness and cultivate good hygiene habits.
Moving forward, three outstanding staff volunteers who outperformed the wechat step donation challenge will be assembled for an onsite visit to witness the project progress and perform home visit to the children in need. At the same time, we will continue to mobilize employees from various branches to organize diverse public welfare activities locally, working together with the headquarters to inject more strength into the company’s philanthropic actions.
“Act for Human Progress by Protecting What Matters” is what has been guiding us in balancing economic benefits with social responsibilities. Actively responding to the call of regulators, and implementing the Group’s cutting-edge sustainable development strategy, we are committed to promoting protection solutions to include those in need.
The fragrant aroma of rice dumplings from the Dragon Boat Festival still lingers in the air, and the excitement of the dragon boat racing endures. On June 2nd, AXA’s “Surfing Forward” dragon boat team gave their all and achieved a historic best at the 5th Lujiazui Financial City Dragon Boat Race. This remarkable fest exemplifies AXA’s spirit of surpassing oneself and striving for the best.
As we approach the culmination of our four – year – transformation journey, we can proudly reflect on our remarkable achievements in business diversification, distribution cultivation, and team capacity building – testaments to our resilience and perseverance. Yet, as the transformation deepens, we face the formidable challenge of a declining premium scale. This challenges us to embrace the “dragon boat spirit” – to strive together in union to achieve greatness.
We must fully harness the wisdom and innovative capabilities of each organization, continuously optimize our business structure, vigorously expand our business, and actively explore new growth opportunities to address the limitations of our current business models. This bottom-up initiative named “Spark Transformation Plan”, symbolizes the idea that a single spark can eventually ignite a prairie fire, infusing our company’s development with continuous vitality. This will empower us with robust resilience and agile adaptability facing market fluctuations when both internal and external environment change.
On June 19, the 2024 Lujiazui Forum convened with a significant milestone: AXA Hong Kong signed a memorandum of cooperation with PICC Property and Casualty Company Limited. As the prelude to cooperation at the group level, it marked the first announcement of a strategic partnership between the two parties in global reinsurance business. This move not only aligns closely with the theme of this year’s Lujiazui Forum “Promoting World Economic Growth through High-quality Financial Development,” but also actively responds to the national strategy of two-way high-level financial opening-up. Having been rooted in China for 25 years, AXA will continue to support the country’s “One Belt, One Road” initiative through innovative cooperation and exchange models, actively expand cooperation with large state-owned financial institutions, and achieve complementary advantages and win-win cooperation.
From June 3 to 7, the “AXA Hearts in Action” employee volunteering campaign kicked started as scheduled, with this year’s theme focusing on “water”. Thanks to the active participation of colleagues, the company collected cash donation to install water purification equipment to the Naituo Town Central School in Liangshan, Sichuan, greatly improving the drinking water quality for the children. “Act for Human Progress by Protecting What Matters “put at heart, AXA always prioritizes in balancing economic benefits and social responsibilities, guiding us to care for vulnerable communities with the aid of insurance protection, to include more disadvantaged groups in our offer.
Starting from this month, various regions across the country have entered a period of high incidence of extreme weather. The company has launched a special action for disaster prevention and mitigation, shifting its role from a “payer” to a “risk manager,” and focusing on building a risk prevention and control system that includes “pre-disaster prevention and warning, rapid response during disasters, and precise claims settlement after disasters.” Actively providing risk reduction services is not only conducive to improving society’s ability to resist risks and reducing social risk costs, but also an unwavering exploration of service innovation, crucial for ensuring the company achieves its operational goals and enhancing its long-term competitiveness.
The journey is long and arduous, but with unwavering perseverance, we will reach our destination. Together, hand in hand, let our sparks ignite a blazing trail across the prairie. Let us dedicate ourselves wholeheartedly to the company’s transformation and embrace a future radiant with promise!
The fragrant aroma of rice dumplings from the Dragon Boat Festival still lingers in the air, and the excitement of the dragon boat racing endures. On June 2nd, AXA’s “Surfing Forward” dragon boat team gave their all and achieved a historic best at the 5th Lujiazui Financial City Dragon Boat Race. This remarkable fest exemplifies AXA’s spirit of surpassing oneself and striving for the best.
As we approach the culmination of our four – year – transformation journey, we can proudly reflect on our remarkable achievements in business diversification, distribution cultivation, and team capacity building – testaments to our resilience and perseverance. Yet, as the transformation deepens, we face the formidable challenge of a declining premium scale. This challenges us to embrace the “dragon boat spirit” – to strive together in union to achieve greatness.
We must fully harness the wisdom and innovative capabilities of each organization, continuously optimize our business structure, vigorously expand our business, and actively explore new growth opportunities to address the limitations of our current business models. This bottom-up initiative named “Spark Transformation Plan”, symbolizes the idea that a single spark can eventually ignite a prairie fire, infusing our company’s development with continuous vitality. This will empower us with robust resilience and agile adaptability facing market fluctuations when both internal and external environment change.
On June 19, the 2024 Lujiazui Forum convened with a significant milestone: AXA Hong Kong signed a memorandum of cooperation with PICC Property and Casualty Company Limited. As the prelude to cooperation at the group level, it marked the first announcement of a strategic partnership between the two parties in global reinsurance business. This move not only aligns closely with the theme of this year’s Lujiazui Forum “Promoting World Economic Growth through High-quality Financial Development,” but also actively responds to the national strategy of two-way high-level financial opening-up. Having been rooted in China for 25 years, AXA will continue to support the country’s “One Belt, One Road” initiative through innovative cooperation and exchange models, actively expand cooperation with large state-owned financial institutions, and achieve complementary advantages and win-win cooperation.
From June 3 to 7, the “AXA Hearts in Action” employee volunteering campaign kicked started as scheduled, with this year’s theme focusing on “water”. Thanks to the active participation of colleagues, the company collected cash donation to install water purification equipment to the Naituo Town Central School in Liangshan, Sichuan, greatly improving the drinking water quality for the children. “Act for Human Progress by Protecting What Matters “put at heart, AXA always prioritizes in balancing economic benefits and social responsibilities, guiding us to care for vulnerable communities with the aid of insurance protection, to include more disadvantaged groups in our offer.
Starting from this month, various regions across the country have entered a period of high incidence of extreme weather. The company has launched a special action for disaster prevention and mitigation, shifting its role from a “payer” to a “risk manager,” and focusing on building a risk prevention and control system that includes “pre-disaster prevention and warning, rapid response during disasters, and precise claims settlement after disasters.” Actively providing risk reduction services is not only conducive to improving society’s ability to resist risks and reducing social risk costs, but also an unwavering exploration of service innovation, crucial for ensuring the company achieves its operational goals and enhancing its long-term competitiveness.
The journey is long and arduous, but with unwavering perseverance, we will reach our destination. Together, hand in hand, let our sparks ignite a blazing trail across the prairie. Let us dedicate ourselves wholeheartedly to the company’s transformation and embrace a future radiant with promise!
On June 2, 2024, the AXA Tianping’s Dragon Boat Team named “Sailing Forward” enthusiastically participated in the 5th Lujiazui Financial City Dragon Boat Race in 2024.
Hosted by the Comprehensive Party Committee of Lujiazui Finance and Trade Zone in Shanghai, the General Union of Lujiazui Finance and Trade Zone in Shanghai, and the Comprehensive Youth League Committee of Lujiazui Finance and Trade Zone in Shanghai, this dragon boat race attracted 7 participating teams coming from various enterprises and institutions in Lujiazui Finance and Trade Zone. Joining the race for four consecutive years, AXA Tianping hopes to convey its solidarity and perseverance while expressing its best wishes to the 60th anniversary of the establishment of diplomatic relations between China and France and the 25th anniversary of AXA’s establishment in China.
The recruitment email received positive responses from IT, claims customer service, audit, distribution, and health. Leader and Drummer Zhongyun LU，together with Wei YANG, Shouhan LIU, Haojie FAN, Lin YE, Peng GONG, Pengle AI, Mingzhu JIAO, Yuzhi YAN, and Qiaobian NIU some of whom were experienced players that have achieved excellent results in previous raches, teamed up this year for a better coordination and teamwork. Although the newcomers lack experience, they are fully committed with high enthusiasm and fighting spirit, contributing their strength to fight for honor and victory.
The team underwent two training sessions and a water trial before the competition. All participants adhered strictly to the schedule and cooperated seamlessly in spite of the hot weather.
Ye Lin, “The training was tiring, but no one complained. We arrived on time and spared no efforts paddling, although my back couldn’t bend and my legs couldn’t lift. Everyone took it seriously has put a lot of efforts in it. I would like to express my gratitude and my love to all of them.”
On the day of the competition, with the sound of the starting pistol, all the AXAers of “Sailing Forward” Dragon Boat Team put in their full effort. Accompanied by the sound of the drumbeat and the cheering from the sidelines, they struck the water despite the waves that were holding back the flying boat. There was nothing but AXAers’ spirit and vitality that was demonstrated.
The competition was fierce as there were professional teams that had been trained for years. Facing the challenges, the “Sailing Forward” Dragon Boat Team cooperated sincerely and united as one. Not only did they complete the race smoothly, but they also achieved their best result in history – 13 seconds faster than last year and even 0.24 seconds ahead of this year’s third-place team. However, due to the competition rules, we were in the “Group of Death” and narrowly missed the trophy. But our resilience and tenacity in facing strong opponents have stood out. We believe that in the coming year, we will definitely break through and achieve even better results!
Mingzhu JIAO: “It is my first time participating the race. I am touched by the solidarity and the conviviality of the team. The training was highly effective and we all got along with each other. During the competition, we all gave our best, and hang in there despite the challenge. It has been quite an inspiring and encouraging experience for me.”
Lin YE: “I knew that the other teams were so much stronger but no one from our team gave in. We all did our best and made our way to the final stage, thanks to our perseverance and insistence.”
Lin YE: “We were a bit anxious in the group competition and were not performing well, but we adjusted ourselves in time, and have summed our ‘lessons learned’ after the competition. We pulled together as a team in the semifinal, and improved by 4 seconds despite our physical exhaustion, achieving our best result in history. Our team members are just amazing!”
On June 13, 2024, at the “6th China Insurance Industry Digitalization and Artificial Intelligence Development Conference” held in Shanghai, AXA Tianping Property and Casualty Insurance Co., Ltd. was awarded the “Annual Insurance Industry Digital Transformation Breakthrough Award,” marking the third consecutive year of recognition in the insurance technology sector. As a company that is backboned by digital transformation and technological innovation, AXA Tianping attaches great importance to the application of digital means in business operations. Through continuous exploration and innovation, it has continuously improved the quality of customer service. This award not only affirms AXA Tianping’s continuous exploration and innovative practices on the path of digital transformation, but also fully demonstrates AXA Tianping’s leading position in the digital field.
Fred Ding, Chief Health Officer of AXA Tianping, was invited to attend the event and presided over the roundtable discussion on “Promoting Integration of Industry and Technology to Boost the High-Quality Development of Financial Insurance.” With his profound industry experience and forward-looking insights into cutting-edge technology, Mr. Ding conducted an in-depth analysis of the innovative potential of artificial intelligence and big data applications in the insurance industry.
Catherine HUANG, Director of Digital Marketing of AXA Tianping, delivered a speech titled “Digital Empowerment and Transformation for Prosperity: Exploration and Practice of Digital Marketing in AXA Tianping.” She elaborated on the innovative direction and brand value of AXA Tianping’s digital marketing regarding operational innovation, marketing innovation, and service innovation, and shared practical applications of AXA Tianping’s digital platform in different scenarios, demonstrating the company’s exciting journey in exploring, practicing, and utilizing digital technology to enhance its core competitiveness and optimize customer experience.
On June 19, during the grand opening of the Lujiazui Forum, AXA Hong Kong and the PICC Property and Casualty Company Limited solemnly signed a memorandum of cooperation with overseas partners, marking the official launch of a new chapter in strategic cooperation in the global reinsurance business.
Against the backdrop of multiple uncertainties and a new round of changes and opportunities in the current world economy, we deeply realize the importance of reform and innovation in the financial field, especially in promoting high-quality financial development as a key force to solve global economic issues and promote sustained growth. In response to the theme of the Lujiazui Forum, “Promoting World Economic Growth through High-Quality Financial Development”, the Shanghai Bureau of the China Financial Regulatory Commission grandly held the “Signing Ceremony of the Memorandum of Cooperation for Jointly Building the Shanghai International Reinsurance Registration and Trading Center”. This not only reflects China’s financial two-way opening-up strategy of equal emphasis on “bringing in” and “going out”, but also demonstrates our firm commitment to global financial cooperation and development.
It is reported that AXA and PICC are about to reach a strategic cooperation at the group level. Been deeply rooted in the Chinese market for 25 years, AXA has always been committed to fully supporting the national “Belt and Road” initiative through innovative cooperation models and actively seeking in-depth cooperation with large state-owned financial institutions, aiming to achieve mutual benefit and win-win results.
At the grand event of the Lujiazui Forum, Mr. Kevin CHOR, CEO of AXA Tianping stated that “On the occasion of the 60th anniversary of the establishment of diplomatic relations between China and France, coinciding with the 25th anniversary of AXA’s establishment in China, we feel deeply honoured and have a great sense of responsibility. AXA will continue to leverage its global expertise and local networks to continuously expand the breadth and depth of insurance services, contributing to promote high-quality financial development and boosting world economic growth.”
AXA Tianping remains fully committed to the Chinese market and continues to increase its investment in reinsurance business. As an important witness to the first anniversary of the establishment of the Shanghai International Reinsurance Registration and Trading Center, AXA Tianping will leverage its global sophistication and expertise to actively explore innovative cooperation and for the purpose of promoting the vigorous development of reinsurance business, supporting the construction of the Lingang International Reinsurance Functional Zone, and promoting high-quality financial development and world economic growth.
In the future, AXA Tianping will continue to embrace innovative development, enhance service quality, leverage policy advantages, response to market demand, coordinate resources from all sectors, and collaborate for mutual growth to achieve collective success together.
The 8th New Employee Orientation & Training was successfully convened to help new employees quickly integrate as well as to gain a deeper understanding of the company’s culture and its values. Organized by Learning and Development team, a one-day project was planned, engaging part of the company’s senior management team and department heads, who have lent their expertise and experiences regarding the functional roles of the departments, the overall business development to new employees. Through a series of well-designed activities, new employees deeply felt the mission and vision of AXA while accelerating interdepartmental communications with colleagues across different teams.
We would like to invite you to have a quick go-through of the training day:
Liancheng ZHOU, Executive Vice President and Chief Distribution & Sales Officer greeted new employees for joining AXA family, followed by emphasizing that every member should embrace the “cultural confidence” of AXA and to pursue excellence during the company’s transformation journey.
Jie ZHANG, Director of Learning and Development team, took The history of AXA as the context to vividly demonstrate some of the iconic scenes of AXA, namely “The Journey to the Stars”, “Meeting in the Desert”, and “The Phoenix Totem” to inspire new employees to learn the resilience and adaptability that AXA upholds in adversity.
Shuai TIAN, Assistant General Manager of Pricing and Underwriting team, embodying the spirit of AXA’s first “Star of COURAGE”, explained the values of AXA to the new employees and encouraged everyone to boldly express themselves and speak for themselves in AXA, where Inclusion and Openness are welcomed.
From a macro perspective, Siyuan DAI, Director of CEO Office & Chief Transformation Officer, introduced the company’s unique strategic positioning and brand value, which combines both the “entrepreneurial spirit” of Taiping Insurance and the group sophistication, diversity and inclusion of AXA’ Group. Furthermore, from a micro perspective, she shared her personal involvement in strategic changes and transformation projects, encouraging everyone to find their own value in this workplace.
Yan ZHENG，director of Distribution Support, provided an in-depth overview of the company’s broker distribution development and the advantages of its long-term strategy from three perspectives: sales channels, distribution empowerment, and typical case studies.
The General Manager of the Sales Planning team, Zhijun QU, thoroughly explained the company’s institutional development layout and business strategy, stating that in 2024, value creation and compliant operations will be prioritized and focused.
Fred DING, Chief Health Officer, introduced AXA’s diversified health insurance solutions launched against the backdrop of DRG/DIP reforms. These solutions cover a wide range from the mass market to the high-end segment, not only simplifying the claims process but also enhancing the security throughout the entire health management service cycle. This reflects AXA’s professionalism and innovation in the field of health insurance.
Cherry WANG, head of Group Insurance and Inclusive Insurance, introduced in detail the functions of the department, including the business model of group insurance, as well as the clientele and development direction of inclusive insurance.
Based on the responsibilities of various departments in commercial insurance, main insurance types, key customers, and the underwriting capacity and preferences of each insurance type, Haiyong LIU, general manager of the Claims Department of the Commercial Insurance Business Unit, shared the business operation ideas of commercial insurance with the audience.
As the Assistant General Manager and Chief Claims and Customer Service Officer, Yang Yong provided an in-depth analysis of various factors to be considered in the claims process through a case study of motor insurance claims. He also introduced the departmental structure, data services, digital progress, and complaint management strategies.
Xiaofeng Zhang, General Manager of Pricing and Underwriting Department, elaborated on the three prominent characteristics of motor insurance business, which led to the discussion of the complexity of its pricing and decision-making, emphasizing on the importance of refined management and cross-departmental collaboration.
Norman Luo, head of the Legal and Compliance Department, outlined the responsibilities of the department and introduced the requirements of the group’s compliance system, including data privacy, anti-bribery & corruption, anti-money laundering, and sanctions compliance. He emphasized on the importance of compliance in the company’s operations.
Chief Financial Officer, Pierre LAUR, detailed the functions of his three key teams in the finance department, and introduced a three-year strategic plan to achieve break-even in 2024 and lay the foundation for profitable growth in 2025 and 2026 through key strategic initiatives, expecting everyone to continue to work to achieve the company’s goals.
Richard QIU, Assistant General Manager, Chief Risk Officer and Secretary of the Board, used an analogy of crossing a river to illustrate the importance of risk management, emphasizing that the value of risk management lies in defining the boundaries of action and ensuring that goals are achieved within a safe range. He also introduced the company’s sophisticated risk management system, the company’s internal control and governance structure, the responsibilities of the risk management team, and the management of potential risk events.
The Chief Operation Officer and Chief Data Officer, Philip YU, showcased the department’s development in various areas, ranging from IT to data，to security, and operations. Meanwhile, he also emphasized the technological advancement of the company’s IT environment, demonstrating the company’s technological strength and its 24-hour service capability.
Senior Compensation and Benefits Manager Ruyi ZHANG and Senior Human Resources Business Partner Xi YU separately introduced the compensation and benefits policies as well as the performance management policies. Through detailed introductions, they helped employees gain a better understanding of the company’s compensation, benefits, and performance management systems, as well as how these systems can promote personal and organizational development.
As we step into the new era of the company’s transformation journey, challenges and opportunities coexist. Every new employee is expected to offer vitality and energy, seizing the opportunities to progress with the company.
With typhoon season approaching, severe weather is expected to hit many parts of the country. In response to possible emergency claims, AXA Tianping has established a disaster prevention and loss reduction task force, headed by Yang Yong, Chief Claims and Customer Service Officer, and jointly composed of the Claims and Customer Service Center, the Commercial Claims Department, and the claims teams across branches.
The kickoff meeting for the special action on disaster prevention and loss reduction in 2024 was held on June 4th, mobilizing all employees to attach great importance to disaster prevention and loss reduction. Chief Claims and Customer Service Officer Yang Yong attached great importance to the disaster prevention and loss reduction work to ensure a successful delivery of the company’s business goals, especially in face of increasingly frequent extreme weather.
During the meeting, the Claims Management Department from the headquarters set out detailed action plan for disaster prevention and loss reduction. Regarding the response to catastrophic disasters, branches are required to prepare emergency rescue and relief supplies in advance, combined with automatic disaster weather alert message system. They are also encouraged to actively participate in the industry’s risk screening, and to target key distributions such as enterprise property insurance customers, motor insurance group customers, and new energy insurance brands. The marketing department will cooperate in conducting safety promotion campaigns, supporting the branches’ risk reduction efforts, and promoting the development goal of “reducing costs, improving quality, increasing efficiency, and achieving profitability.”
Haiyong LIU from Commercial Claims Department reminded that floods, heavy rains, typhoons, among other disasters have caused significant losses to the insurance industry. Therefore, branches need to attach great importance to disaster prevention and risk reduction work, and to study the on-site investigation and training materials for disaster prevention and loss reduction during the flood season, conduct customer screening and risk survey services based on actual conditions, and help customers with disaster prevention during the flood season.
Hui RAO from the Claims Management Department calls on the entire claims team to shift their mindset from being “loss payers” to “risk managers.” The goal is to establish a comprehensive risk prevention and control system that includes “pre-disaster prevention, rapid response, and precise claims processing.” This will help better serve insurers’ role in leveling down risks while ensuring economic and social stability for the whole society.
Looking back to 2019, AXATP embarked on a transformation journey full of opportunities and challenges following its completion of sole ownership. Over the past four years, driven by the mindset of high-quality development and profitable growth, each branch has shown remarkable progress in diversifying business, deepening distribution channel development, and enhancing team capabilities, we are also in a leading position in the non-motor transformation among our peers.
In terms of Motor, we successfully navigated the complex challenges of deregulation, continuously strengthening our core competencies in pricing, underwriting, and claims management. We not only significantly optimized policy costs but also actively explored new energy vehicle business.
As for Health, we seized valuable opportunities in non-motor sectors. Our flagship product “Zhuoyue Xinxuan (Comprehensive IP+OP)” leads the UMC health insurance market, with a renewal rate steadily maintaining at a high level of 70%, making it a highly recommended product among top-tier brokerage channels. Branch business has seen an astonishing eight-fold growth in just four years, with increasing professionalism within the team showcasing a clear competitive edge.
As regards Commercial Lines, leveraging global underwriting capabilities and technical support, combined with our local branch network, robust on-the-ground service capabilities and business breakthroughs in reinsurance cooperation with top domestic insurancers, we achieved significant progress in the development of commercial insurance. Premium has grown sixteen-fold over five years, with nearly 13,000 clients accumulated and expansions into over a thousand distribution channels, establishing efficient and professional underwriting teams and system capabilities.
However, the path of transformation has never been smooth, and the constant changes in internal and external environments present ongoing challenges. As we enter a critical phase of transformation, issues such as non-diversified business model and inadequate resilience against risks are becoming increasingly apparent. It is imperative to approach this transformation with a fresh perspective and cautious attitude, ensuring strong vitality and adaptive capabilities amidst changes.
On June 14th, under the joint witness of AXATP’s management and head of branches, the “Spark Transformation Plan” was officially launched. This project aims to stimulate branch wisdom and independent innovation, leveraging opportunities such as regulatory windows like “alignment of reporting and operation,” increasingly rationalized market competition, and concentrated resources for pioneer branches. The goal is to optimize business structures, expand business domains, and explore new growth areas. We look forward to grow the transformation spark into a wildfire over the next two to three years. In this new journey of transformation, let’s embrace this change with high spirits and provide solid support and assurance for the successful implementation of the transformation project.
No success comes easily, and hope often emerges from adversity, requiring our full commitment. Let us maintain steadfast beliefs, make adequate preparations, keep high spirits, seize the moment, take action, work together, and create new glories!
