I was very honored to have welcomed Monsieur le consul general in Shanghai, Mr. Benoit Guidee, Mr. Nicolas Poirot, Chairman and CEO of Air Liquide in China as well as other distinguished guests from Science Po Paris at AXATP headquarters office on Sep 1st in AXA Tianping’s headquarter office in Shanghai. I also hosted the Consulate General of France in Shanghai（CGFS)’s seminar on Technological Sovereignty and Digital Regulation.
As a leading insurer that “Acts for human progress by protecting what matters”, AXA in China has the ability toinitiate positive conversations about global concerns and risks, and to contribute to creating a healthy environment for financial security through digital transformation, which is the focus of our strategy.
I recently spoke to Digital Insurer, the largest knowledgebase and community on digital insurance, about how AXA is adapting and evolving in the fast-changing China market. We also discussed about AXA Tianping’s digital innovations and partnerships, health strategies, and the future of China market. Please click the link to read more:
In August, we have rolled out two integrated health products, Signature Inpatient & Outpatient Medical Insurance, as well as Modular Health Insurance, further enriching our product portfolio in health insurance and providing China families with an expanded range of choices for customized medical management plans.
The Signature Inpatient and Outpatient Insurance provides customers with comprehensive protection covering outpatient, inpatient, overseas medical treatment with differentiated premium pricing based on customers’ requirements and preferences, suited to a range of family budgets. Giving access to a wide range of domestic public and private medical resources, as well as top medical institutions worldwide, customers can more easily receive the appropriate diagnosis and treatment approaches for different degrees of diseases. Bills can be paid directly among in-network hospitals, simplifying the process of medical treatment and claim settlement. The product also includes multiple value-added services covering the entire healthcare journey before, during and after consultation, along with access to an online family doctor, overseas medical assistance, and MDT multidisciplinary consultation.
In addition to Signature IPOP, AXA Tianping has also introduced Modular Health Insurance as a strong supplement to a range of existing health insurance plans. Policyholders can enjoy “all-in-one” medical support with expanded spectrum of choices for medical management plans. The Modular product compensates for 80% hospitalization expenses with zero deductible within the scope of social insurance, as well as inpatient cost, outpatient and emergency medical expenses caused by the hospitalization, providing corresponding protection for death and disability caused by accidents as well as sudden death.
Thanks to the teams for bringing to market what customers really need. The introduction of the two products reflects our ongoing dedication to meeting the unique needs of families in China, accompanying them along every step of the way of their healthcare journey. It is a realization of our commitment to be not just a Payer, but a Partner to Chinese families.
In July, extreme and prolonged rainfall and floods has paralyzed the greater Henan province and affected millions of people. The super typhoon “In-Fa” also caused serious losses of life and property. Climate change and its meteorological disasters have become a significant challenge for all mankind. As the world’s leading industry leader, AXA has made use of the advantages of in-tech, combined with scenario application, and opening up opportunities of the financial industry coping with climate change through insurance + technology.
This July, AXA settledthe first domestic commercial climate index insurance in Xinjiang as a product designer and reinsurer. This insurance product provided a limit of 8.42 million RMB against climate risks for more than 3,000 mu of maize farmers in Bole city. Climate index insurance shows broad prospects and great potentials in solving problems such as climate, catastrophe, agricultural food securities, and spreading the losses caused by climate change.
In the case of Xinjiang maize insurance, AXA investigated historical loss, peril analysis, and climate risk exposure in Bole city and Tacheng areas, and concluded that these areas are mainly threatened by frequent climate risks such as heavy rainfall, wind storm and hail. AXA incorporated the perils that cause losses to farmers into its insurance liability in the form of climate index insurance and tailored the rainfall, strong wind and hail index insurance for maize. The insurance company will pay the claims instantly according to the weather indices when disasters occur, which benefits farmers with fast recovery in production after disasters. This insurance can effectively help local government and the insured to share risks, smooth their income curve, and realize the full cycle of disaster managing service that accomplishes claim payment in years with disasters using premiums from abundant years.
As Denis Duverne, Chairman of Board of AXA Group, said in his speech at the 2021 International Forum for China Impact Investing: “AXA has twice as many opportunities to make positive contributions to the climate and environment, not only as an insurer, but also as a responsible investor that accesses environment-related metrics for environment-related investments.”
The Qingdao branch has scored in the top batch among 31 general insurers in the city’s first consumer rights protection evaluation held by CBIRC Qingdao Bureau.
Congratulations to Qingdao colleagues for your efforts in gaining the inspiring recognition from regulators. I’m very proud of what you have demonstrated in practicing the Customer First value and dedicating yourselves to work.
Qingdao colleagues set a good example to all of us in the Soar to Success journey to bring more convenient and relevant services to our customers.
We won the Digital Insurance Initiative of the Year – China at the Insurance Asia Awards 2021 on August 16. The award recognized AXA Tianping’s outstanding achievements in providing convenient and personalized health management service to Chinese customers with its all-in-one digital platform EMMA by AXA.
Emma by AXA was officially released in mainland China in November 2020, with the latest update launched in June 2021. Allowing users to easily track and manage the physical and mental health of their whole family, Emma by AXA provides a range of convenient features including drug delivery, family doctor, child health service that cover both physical and mental requirements, both daily care and professional consultation. Customers can also enjoy convenient services such as online claim settlement, electronic insurance policy and one-click insurance renewal through the platform. As a platform spanning the entire Asia-Pacific region, Emma’s debut in mainland China comes after successful launches in markets including Hong Kong, Japan, Philippines and Indonesia, with additional plans underway to expand to Thailand and other markets in the near future.
Big thanks to everyone who have strived for better serving our customers and being recognized as we implement the customer-centric ‘Payer to Partner’ strategy.
“Qilubao 2021” – the Shandong Public Private Partnership Inclusive Insurance was launched on August 21 for residents in Jinan, the capital city of Shandong Province. The project involves AXA Tianping in product design, co-insurance and promotion. In line with government’s efforts to construct a comprehensive, multi-level medical security system and to provide trusted, worry-free health protection to local residents, Qilubao 2021 fully demonstrates AXA’s Purpose of “acting for human progress by protecting what matters”.
Priced at RMB 150 per person per year, the product is supplementary to Jinan’s basic medical insurance as well as the province’s direct basic medical insurance in other parts of Shandong. It provides up to RMB three million in protection, in which 80% of the inpatient cost for critical illness can be covered.
In addition to the ‘Beijing Jinghuibao” in 2020, the “Qilubao 2021” is another a remarkable achievement employing our strong global expertise to provide trusted, worry-free health protection to local residents. Looking ahead, we will continue to adhere to regulation requirements, our commitment to customers, to promote the implementation of insurance inclusiveness and empower more people’s lives nationwide.
Commercial business plays a vital role in our pivot to value-driven multi-liner model. I am very proud that we have a dedicated team helping corporate clients with world-class risk management solutions.
In this month’s team vlog, Chief Commercial Officer Shaw Zeng and his team will introduce themselves, and showcase their personalities. You will get a glimpse of how they serve and protect clients, especially during difficult times.
The vibrant team really inspires me with their confidence, passion and talent. I hope you enjoy the vlog as well.
（供中国大陆区以外同事观看, For AXA colleagues outside mainland China)
Great thanks to Asia & Africa office colleagues and our communications team for making the video dialogue series for the past five months. I see a growing interest in knowing more about our Asia & Africa colleagues from the rising readership.
This month, I have invited theChief Legal & Compliance Officer Cindy Tong to share her thoughts of building the synergies between local team and Asia & Africa Office, as well as the key challenges and latest updates for AXA Tianping implementing AXA Group Standards. Born and raised in Hong Kong, Cindy also recommends her favorite places to visit and to eat real local food.
Please click above video and link to find out more.
On August 4th, I was invited to Shanghai International Studies University (SISU) for a long – term cooperation ceremony in actuarial education. As an alumni and guest professor, I was very honored to own one more role to the university. I met with Mr. Yugui ZHANG, Dean of the School of Finance & Trade of SISU and aligned our determination in driving the industry development. The Discipline of Actuarial Science will be set up to provide professional trainings and education for talented young undergraduates dedicated to Finance and Insurance sector.
One of the largest and oldest schools in SISU, the School of Economics & Finance (SEF) has cultivated many inter-disciplinary talents. I hope that through the Actuarial education, we will have more outstanding people joining insurance companies and other financial institutions and reach a win-win result in talent development and international cooperation.
Priority on Education and Science has long since a tradition at AXA. We support 321 academic institutions in 38 countries and regions with over €250 million committed in 665 research projects spanning Environment, Health, New Tech and Socio-Economics. In China, AXA has been working on 23 projects with leading universities and institutions such as Tsinghua University and its School of Economics and Management, Chinese Academy of Sciences, Chinese Research Academy of Environmental Sciences, Hong Kong Chinese University, Chinese Academy of Financial Inclusion.
