HONG KONG, Jan. 31, 2022 /PRNewswire/ -- On January 26, Brand Finance, the world's authoritative brand value assessment agency, officially released the "Top 500 Most Valuable Global Brands in 2022" list. Among the insurance brands on the list, China Pacific Insurance (Group) Co., Ltd.'s ("CPIC" or the "Company"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) brand value continued to increase, showing strong resilience, and the brand's core indicators maintained a steady growth trend.
The brand value of CPIC ranked fifth in the world among insurance brands, reaching US$15.77 billion; the brand strength index achieved a leap, from AA+ to AAA-, showing that CPIC's brand image and influence on customers' purchasing decisions have been greatly improved. It is worth mentioning that the importance of CPIC's brand value to the Company's value has been further enhanced. The ratio of brand value to company value reached 40%, ranking first among Chinese insurance brands and second among global insurance brands, reflecting the contribution of the CPIC brand to the overall value of the Company and highlighting the overall strength of the CPIC brand.
In the uncertainty of cyclical changes and adjustments and the impact of the epidemic, the CPIC brand has shown strong brand characteristics, which is mainly due to its customer-oriented innovative development strategy and the courage to undertake social responsibilities amid uncertainty.
Customer Demand Oriented
The CPIC brand practices a customer-centric brand culture, builds a new ecology of brand communication according to customer needs, and creates a new brand image that customers love and recognize since branding is an effective way to impress customers.
Taking the 30th anniversary celebration as an opportunity, CPIC launched a series of brand rejuvenation and technology-based initiatives. The Company celebration VI with the theme of "Stay Together" broke through the tradition and presented a new look of the brand with rich features, which was widely used in various customer touchpoints. At the same time, CPIC launched the mascots "Yangyang", a warm ocean spirit, and "Baobao", the closest intelligent assistant to Yangyang. The two new images representing CPIC appeared in communication with customers in various forms such as emoticons and figures, and were well received. CPIC also launched the theme song "Promise" and the theme music "Riding the Wind and Waves in the Pacific Ocean" to enhance the brand vitality with a unique sound system. In addition, CPIC launched popular activities such as the TikTok National Task Challenge, Happy Pacific Mini Games, and online and offline exhibitions to allow more customers to participate and feel the power of the Pacific Insurance brand.
In 2021, CPIC further promoted the "CPIC Service" brand. Based on the diversified needs of customers for "insurance products + services", CPIC has created and fully implemented a "Service Officer" system, which is divided into four levels from the Group to the head office, branch offices, and central branch offices. More than 700 senior managers approached and served customers as "Service Officers", earnestly undertaking the important mission of "infiltrating the spirit of service into transformational operations". Based on serving customers throughout the life cycle, the Company provides personal service, life-long service and exquisite service in an all-round way.
Customer-centric brand building has been recognized by customers. According to the evaluation results of the insurance service quality index published for the first time in the industry and made by independent cooperative manufacturers, CPIC P/C and Life came out on top among 59 property and casualty insurance companies and 79 life insurance companies respectively, and its health insurance companies ranked first among professional health insurance companies. CPIC has won honors such as "2021 Brand Influence Insurance Company" and "2021 Excellent Competitive Brand Building Insurance Company" from 21st Century Business Herald and China Business Journal, etc. According to Nielsen research, CPIC brands have more than 70% influence on consumers' purchasing decisions.
Take Social Responsibility as its Own Responsibility
"Putting people as the center" is the fundamental development principle of CPIC. The CPIC brand plans development strategies based on the principle of being consistent with our country and sharing weal and woe with the people, in order to create a brand that promotes good and shows responsibility.
Serving the national strategy. CPIC has provided insurance covering nearly RMB2.8 trillion for four consecutive CIIEs and two service trade fairs, and its overseas business covers more than 100 countries. CPIC actively participates in the large-scale regional strategy, creates a new highland for innovation and leadership in the Guangdong-Hong Kong-Macao Greater Bay Area, deepens the integration of the Yangtze River Delta, and initiates opportunities for the coordinated development of Beijing, Tianjin and Hebei. Focusing on the "3060" goal, CPIC has launched green insurance and investment solutions in many fields such as environmental governance, advanced manufacturing, new energy, and new infrastructure, of which new energy insurance is close to RMB1 trillion.
Serving the society and people's livelihood. CPIC implements a big health strategy to solve the medical problems faced by the general public. It has undertaken various government medical insurance cooperation projects covering 145 million people and participated in 33 Huiminbao projects. At the same time, CPIC has deployed the elderly care industry to meet the growing elderly care needs of the people, and established 10 "CPIC Homes" in 9 places including Chengdu, Dali, Shanghai and Hangzhou, and initially completed the nationwide distribution of the elderly care industry.
Drawing a public welfare map. "CPIC Green", "CPIC Red" and "CPIC Blue" depict the color map of CPIC's social responsibility. "Poverty Prevention Insurance" has been extended to more than 1,000 counties and districts, covering nearly 400,000 people who facing poverty and vulnerable to poverty, and becoming the "CPIC Red" that writes a new chapter of common prosperity. In the face of senile dementia among the aging population, CPIC donated RMB20 million to initiate the establishment of the "CPIC Blue" public welfare fund, which has become the "CPIC Blue" that protects love and hope. In addition, CPIC also donated more than RMB23.3 million to build 1,500 mu of ecological public welfare forests in Sanjiangyuan, Qinghai, which has become the "CPIC Green" that builds the barrier of the Chinese water tower.
ESG branding. CPIC actively promotes the implementation of ESG strategies, deepens the practice and dissemination of ESG concepts, and has initially established an ESG brand of "CPIC Green Action, Everyone Acts Together". CPIC is innovatively launching the zero-carbon CIIE and carbon quota pledge insurance; promoting wildlife liability insurance through the Yunnan Elephant Incident to establish CPIC as an insurance benchmark for biodiversity protection; promoting catastrophe insurance in response to disasters such as rainstorms and typhoons caused by climate change, in order to establish a "CPIC sample" to deal with climate change.
With its outstanding performance in social responsibility and ESG, CPIC has won the "Responsibility Model Award" from China Business Network for 13 consecutive years, ranked second in the insurance industry among the top 500 Chinese ESG Excellent Enterprises by Sina Golden Kylin, and won the ESG "Golden Responsibility Award"; ranked third in the insurance industry among the top 300 companies in the "Corporate Social Responsibility Development Index" released by the Chinese Academy of Social Sciences; at the same time, won the Carbon Neutral Pioneer Green Pioneer Award from 21st Century Business Herald.
Looking forward, CPIC will be committed to making the brand an important driving force for CPIC to build a new high-quality development in the industry based on people-centered brand positioning, customer-centered brand culture, and value-centered brand creation.
About China Pacific Insurance (Group) Co., Ltd
China Pacific Insurance (Group) Co. Ltd. (hereinafter referred to as "CPIC", or the "Company"; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance holding company incorporated on the basis of China Pacific Insurance Company, which was established on May 13, 1991. It is a leading insurance group headquartered in Shanghai, which is the first insurance group simultaneously listed on Shanghai, Hong Kong and London Stock Exchanges. CPIC is a leading comprehensive insurance group; the Company provides a broad range of risk solutions, financial planning and asset management services to over 100 million customers via its nationwide network of distribution and diversified services platforms.
For further information, please contact:
Wonderful Sky Financial Group Holdings Limited
Ms. Skye Shum / Cecilia Xiong
Tel: (852) 3970 2199 / (852) 3641 1300
Fax: (852) 3102 0210
Email: CPIC@wsfg.hk
