During the 16th Annual Finance Summit of Asia, I did an interview with the leading finance publication 21st Century Business Herald and talked about AXA’s insights in Chinese family health needs and its solutions to cover both physical and mental health.
Global Sustainable Development and a Community with a Shared Future for Mankind are hot topics on COP26 and World City Day this year. “Acting for human progress by protecting what matters” are our AXA mission. Protecting our earth is critical to our employees, customers and the whole world. Climate is a strategic challenge for AXA and we’d like to be the role model organization in Climate Change.
We introduced AXA Climate Academy from AXA Group for the very first time this year and launched the courses during Group AXA Learning Week in October 2021. The main course includes 3 modules:
1. Learn the science 2. Rethink the business perspective 3. Commit to change
We have online courses and highlights of content and share with our employees. Climate, environment, low-carbon and sustainability are popular themes that related to our daily life. What do they mean to us? In our AXA Climate Academy, our employees got the answers! AXA Climate Academy program helps us better understand the basic science of climate, understand the role AXA must play and more importantly empower us to commit to change and embrace future!
Small changes make a big difference to tackle climate change. We will keep focusing on climate and contributing on AXA’s climate missions.
I hope you all enjoy the gorgeous weather of this season. As we enter the cooler months of 2021, I reflect on how time passes so quickly and when we launched the Beijing Jinghuibao Inclusive PPP Insurance and supported broader communities this time last year. We are carrying out this commitment and joined hands with more partners and rolled out the 2021 version of Beijing Jinghuibao inclusive PPP Insurance in October this year. The program has been updated with broader coverage, more specific remedies and health management services to benefit Beijing residents, and support the multi-level medical security system.
It’s also the month of digitalization and big data. We’ve kicked of the Data Week and held the Data Open Day events, where AXA Tianping Data Governance White Paper was released and opened a new chapter of the company’s data governance. The team was also awarded the Insurance Digital Ecosystem Innovation Pioneer.
In this month issue, you will also read about group chairman Mr. Denis Duverne’s speech about green finance and sustainability at the 2021 Financial Street Forum and AXA Tianping’s health insights at the Economist seminar.
I hope you all enjoy the gorgeous weather of this season. As we enter the cooler months of 2021, I reflect on how time passes so quickly and when we launched the Beijing Jinghuibao Inclusive PPP Insurance and supported broader communities this time last year. We are carrying out this commitment and joined hands with more partners and rolled out the 2021 version of Beijing Jinghuibao inclusive PPP Insurance in October this year. The program has been updated with broader coverage, more specific remedies and health management services to benefit Beijing residents, and support the multi-level medical security system.
It’s also the month of digitalization and big data. We’ve kicked of the Data Week and held the Data Open Day events, where AXA Tianping Data Governance White Paper was released and opened a new chapter of the company’s data governance. The team was also awarded the Insurance Digital Ecosystem Innovation Pioneer.
In this month issue, you will also read about group chairman Mr. Denis Duverne’s speech about green finance and sustainability at the 2021 Financial Street Forum and AXA Tianping’s health insights at the Economist seminar.
（供中国大陆区以外同事观看,For AXA colleagues outside mainland China)
Distribution network is vital to the insurance companies. This month, I have invited Stephen Appleyard, Chief of Distribution Hub for Asia, to share his insights in AXA distribution in China especially in non-life side, and how AXA Prime is going in China.
Many of you might have met Stephen before because before COVID, he was in China four days a month for twelve months. He was very impressed by the AXA Tianping team, which he said is with lots of energy, clear goals and strong execution in China’s dynamic market. Please watch below clip to know more about him and his experience.
We were invited to Economist’s close-door Seminar on October 13th to discuss opportunities and challenges of China’s healthcare market under the Healthy China 2030 policy initiative as well as the changing dynamics of the Chinese economy. On behalf of the company, the Chief Health Officer Kevin Zhou spoke at the panel joined by spokespersons from Ping An Health, GE Healthcare and Parexel.
Below are some takeaways from the seminar:
The biggest opportunity for China’s healthcare insurance industry is the market itself, which has seen tremendous growth in the past decade. And because of the aging population, the rising average income, the expansion of the middle income class, and the increasing medical cost, the health insurance market in China will continue growing at a high speed. Also, private insurance only accounts for about 5% of the total health spending in China, which has a huge growth potential.
Whatever can go online will go online. Healthcare and health insurance have been lagging in that regard globally, but digitalization is now accelerating and China is leading the field. Digitalization makes healthcare services more accessible to everybody, and in a more personalized way.
New drug development has been accelerated in China. Ten years ago, there was a significant time lag between new drugs being developed abroad and becoming available to Chinese patients. Since 2017, China has had a series of regulatory improvements, which allowed China to participate in multinational clinical studies and enable Chinese patients to access the new drug in development simultaneously as those in countries of origin.
The 2021 Financial Street Forum, aims to further strengthen China’s participation in global financial governance and promote healthy interaction between finance and the real economy, was successfully held on 22-October.
At the invitation of the Beijing Municipal Government and the ICBC Chairman, our group chairman Mr. Denis Duverne joined the forum virtually to deliver an important speech. He said that the focus on “climate change” has risen to the height of the AXA Group’s strategic priority, and firmly believes that through a series of measurements in place, AXA can play a positive role in promoting climate-friendliness, green finance and sustainable development.
As a leading global insurance company that puts “Act for human progress by protecting what matters” at heart, I believe that we can, through leveraging Group’s expertise and technology, contribute to the further development of green finance and the realization of the dual carbon goal.
Thanks to the interview invitation from China Daily and Shanghai Daily, I was very honored to share my views on Shanghai’s growth into an international financial center as well as how foreign institutions help drive the process.
Shanghai is becoming more appealing to foreign financial businesses as it improves the environment for institutions along its journey to becoming a top global financial hub. As the wholly owned property insurance subsidiary of AXA Group, AXA Tianping has experienced firsthand the improved business environment for the financial industry, and will continue to double down in China, in Shanghai, and to provide world-class solutions to Chinese consumers.
Congratulations to the Information Technology team winning the Insurance Digital Ecosystem Innovation Pioneer at the 3rd Insurance Innovation Summit. It recognizes the progress we have made in the digital transformation journey to bring the most convenient solutions to our customers.
Our Chief Operation Officer Philip Yu also spoke at the summit, sharing AXA Tianping’s best practice in digitalization and big data towards the Payer to Partner transition.
（供中国大陆区以外同事观看,For AXA colleagues outside mainland China)
From October 11th to 15th, the week-long “Data Open Day” has been successfully held. I am very thankful for Data application department’s hard work, together with the Marketing & Communications, Actuarial and pricing center, Customer service operation center, and Digital operation department, for giving us a series of online and offline educational activities for staff from HQ to branches.
During this week, the management team and I have also visited Zhong An insurance company, and have shared our insights on digitalization with industry experts, who have witnessed the launch of AXA Tianping Data Governance White Paper opening a new chapter of the company’s data governance.
With digital transformation becoming the consensus of the industry, the whole industry is showing a tendency of development and innovation. “Insight into data empowers business” is by no means empty words. Based on the OneData big data system, our digital ecosystem solutions and unified data service platform are under construction. I believe that in the near future, we will be able to empower business development through insights and data, share our value and contribute our strength to the digital transformation of the insurance industry.
