The Group held its first innovation symposium, aiming at taking innovation as the primary driving force to lead development

Date:  15-05-2020

On May 13-14, China Taiping held an innovation symposium through video. Chairman Luo Xi made a speech themed 'Driving the New Era Development Strategy through Innovation'. Mr Wang Sidong, General Manager Wang Sidong chaired the meeting participated by the Group executives, independent directors of the Board, general managers of different departments and subsidiaries.

Chairman Luo Xi pointed out in his speech that the primary task derived from China Taiping's new development concept is to innovate for development. This is more than taking on the responsibility to excel as a financial SOE, but also meeting the inherent needs to achieve growth with high quality. Now facing the situation full of challenges and complexities, to navigate through COVID-19 while developing business, we must innovate constantly so as to respond to the transformation of customer needs and transaction scenarios, to stand up to the new challenges and difficulties in the process of development, and to promote the implementation of the development strategy of the Group in the new era.

Chairman Luo Xi emphasized that to innovate is to be customer-focused, to adhere to the principles of centering on insurance, activating the system, improving the process, and increasing efficiency, to focus on meeting customers' growing medical, health, and elderly needs, to continuously optimize products, human resources, channels, operations and industrial resources so as to create an environment conducive to innovation on all aspects and processes involving all the employees. It is necessary to put financial technology innovation in a more prominent position, optimize infrastructure such as data concentration, system iteration, and mobile applications, seize opportunities in the application of cutting-edge technologies such as block-chain, artificial intelligence, and the internet of things, and to continually consolidate the foundation of technological innovation. It is necessary to improve the safeguard for innovation systems and mechanisms, promote resource allocation to be more market-oriented, step up international cooperation on innovation and optimize platforms for operations. It is necessary to encourage the participation of all employees, clarify responsibilities, focus on key points, and cooperate with each other, promote the implementation of the Group's new era development strategy in innovation and achieve new results, and strive to create a new situation of high-quality growth of China Taiping.

The symposium invited experts from industries of international and domestic online medical care, international investment banks, and internet insurance to give insightful lectures.