Constantly Evolving

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Constantly Evolving

China Life Insurance (Overseas) Company Limited’s (China Life Overseas) excellence in product innovation was recognized at the BENCHMARK Wealth Management Awards 2015 for Retirement Product (Outstanding Achiever) and Service Innovation (Outstanding Achiever). BENCHMARK talks with Godfrey Hui, Chief Actuary, China Life Overseas, on how the company pursues service and product excellence through tireless innovation.

Godfery Hui, Chief Actuary, China Life Insurance (Overseas) Company Limited

Godfery Hui, Chief Actuary, China Life Insurance (Overseas) Company Limited

China Life Insurance With total insurance revenue of over HK$40 billion, China Life Overseas topped the Hong Kong market with its splendid achievements. In 2013 and 2014, the company consecutively beat its competitors in terms of annualized premiums of direct new business according to provisional data from the Office of the Commissioner of Insurance, reflecting popularity and wide acceptance among its clients.

Product Innovation and Community Outreach

Godfrey Hui, China Life Overseas’s Chief Actuary, believes that their splendid products and excellence in customer service owe much to the company’s emphasis on constant service and product innovation, “After the financial tsunami in 2008, China Life Overseas with its state enterprise background had been widely recognized for its brand quality in contrast with its vibrant competition. China Life Overseas has been providing a wide range of health, retirement saving solutions, and MPF services in Hong Kong for over three decades.”

Hui added, “In 2009, China Life Overseas was the first company in Hong Kong to launch the ‘true RMB policy’, allowing insurance policies to be settled in RMB. In 2012, China Life Overseas was permitted by the People’s Bank of China to enter the inter-bank bonds market on the Mainland, making China Life Overseas the first non-Mainland insurance company to receive such recognition, illustrating the Hong Kong insurance industry’s development in China’s bond markets and growing the company’s fame in the RMB market.”

In 2015, China Life Overseas also launched the MasterCare Medical Plan, a new and innovative scheme with no upper limit to claims(*i) for life, depending upon the plan chosen, which saves the worries of prospective clients.

To support increased efficiencies in customer services, China Life Overseas has over the years developed a strong multi-channel network to deliver its services and solutions directly to clients of all sizes. The company has also established sales channels via banks, financial planners, and direct sales channels. In addition, the company has developed strategic partnerships with 12 banks in Hong Kong, comprising a total financial planner number of more than 3,300 at present.

We are one of the most sizable insurance service providers in Hong Kong and Macau with the most number of bank sales partners across both cities.” Hui proudly remarked.

Service Innovation

At the core of China Life Overseas’s success is the company’s dedication to and focus on generating new ideas through participation from all levels. Hui revealed that the company had established a Services Enhancement Committee to gather innovative service enhancing ideas from staff, as well as taking part in external competitions hosted by third parties such as the Mystery Shopping Program, to evaluate service quality on the front line. He emphasized, “All staff serving in whatever capacity, both internally and externally, have to remember that they have a role in achieving the best overall customer service.”

Hui said, “We gather all input from our staff at all levels. These ideas are then evaluated by the Service Enhancement Committee, and once we have decided on which proposals to pursue, we shall then implement them to the best of our abilities. Our ideas are not limited to customer service, but also cover environmental and community service. One of our recent initiatives is the establishment of all-new customer service centers in the form of ‘Insurance Shops’ where clients can meet financial planners in a comfortable setting to learn about our products and receive tailor-made proposals to cater to their specific needs.”

The company’s efforts have been recognized with top honors from major retail and service industry bodies, including a top honor from the Hong Kong Call Centre Association in 2013, The Mystery Caller Assessment Award – Finance and Insurance. China Life Overseas also received the 2014 Service Courtesy Award from the Hong Kong Retail Management Association followed by the 2015 “Capital Weekly” Life Insurance Service Award and the Hong Kong Insurance Awards 2015 – Top 3 Finalist for Outstanding Customer Services Award.

To extend China Life Overseas’s reach into the community, the company has developed a strong local service center network with service centers in North Point, Wanchai, and Yaumatei to extend service covering the general public’s needs for insurance applications and inquiries, as well as providing on-site financial and even health information services more easily.

Hui added, “To encourage the young generation to get educated on financial planning, we are able to secure competitive advantages on all ends.”

“In addition, some of our customer service centers are equipped with specifically themed interactive games to increase the younger generation’s knowledge and interest in financial planning. We also seek to reach young audiences through social media platforms such as WeChat, Facebook, and YouTube.”

Hui said that to make sure that China Life Overseas’s customers realize the importance of a healthy lifestyle, the company worked jointly with Town Health International Medical Group Limited and Sino Dynamics Solution Ltd. to develop a healthy lifestyle O2O platform called “One Pass.” Combining health monitoring, lifestyle, and financial management functionalities, it is the only mobile app available that combines insurance service provision and healthcare service in the Hong Kong market. A user can enjoy the convenience of all-in-one healthcare and financial management services, such as the latest information on insurance solutions and services discounts, healthcare information, and body status monitoring through One Pass. They can then connect with the hotline center to acquire personalized healthcare services.

Today, since people tend to favor a more flexible retirement age, China Life Overseas is also trying to adapt their insurance and retirement solutions too. “A client can arrange for his/her own payment installments, as well as annuity income options, for example income period and payment method, from a series of retirement solutions. In 2016, a new universal life insurance product will be launched so that clients can choose the best mix of medical and life benefits for themselves,” Hui explained.

All in all, he is very confident in the company’s saving products line-up. Their short and medium-term solutions now offer more distinct advantages than simply saving money in a bank. BM

(*i) All terms and conditions as per all terms and conditions outlined in the insurance policy.

卓越源於創新

中國人壽保險(海外)股份有限公司(下稱國壽海外)贏得2015年 度《指標》財富管理大獎中之「退休產品傑出表現獎」及「服務創 新傑出表現獎」。憑藉產品發展及創新方面之傑出表現,《指標》 深入專訪該公司首席精算師許意雄,探討該公司以創新促進發展, 在服務及產品上不斷精進之道。

Godfery Hui, Chief Actuary, China Life Insurance (Overseas) Company Limited

Godfery Hui, Chief Actuary, China Life Insurance (Overseas) Company Limited

國壽海外近年來發展迅速,2015年總保費收 入突破四百億港元。根據保險業監理處的臨 時統計數字,國壽海外2013及2014連續兩年 新單年度化保費收入居香港市場首位,成績 斐然,足證其產品贏得客戶的支持和認可。

產品創新 深入社會

國壽海外首席精算師許意雄指出,他們不斷 在服務及產品開發上力求創新,是創出亮麗 佳績的主要原因。他表示:「2008年的金 融海嘯後,國壽海外作為一個國企品牌,與 經歷震蕩的市場對手相比表現一枝獨秀。國 壽海外在香港提供一系列完善的醫療保險、 退休、儲蓄保險方案及強積金服務,至今已 有三十年歷史。」他續稱:「在2009年國 壽海外成為香港第一家推出以人民幣結算的 保險計劃的公司。2012年,國壽海外獲得中 國人民銀行(人行)批准進入中國內地銀行 間債券市場。作為獲批的第一家境外保險公 司,為香港保險業進入國內債券市場探索 了道路。國壽海外已在人民幣市場建立一 定口碑。」

此外,2015年推出創新的「國壽海外」 尊尚醫療保險計劃,不設終身賠償限額(*i),讓 客戶毋須為醫療限額而憂心,反映了國壽海 外在產品方面的創新精神。

為讓客戶服務更具效率,國壽海外多年 來建立了一個強大的多元渠道服務網絡,向 不同資產規模的客戶直接提供服務方案。該 公司亦通過銀行、理財顧問及直銷等渠道進 行銷售。國壽海外在香港與十二家中外銀行 建立策略伙伴關係,亦培育其理財顧問團 隊,現時人數超過三千三百人。

許意雄不無自豪地強調: “ 我們是港澳地區代理銀行最多的保險公司,是港澳地區最大 的保險公司之一。”

廣納意見 服務創新

國壽海外的成功在於該公司上下一致,齊心 專注於創新。許意雄指出,該公司設立了一個 「服務提升委員會」向所有員工收集可以改 進服務的創新意念,並參加由獨立機構舉辦 的神秘顧客活動,以不時檢討前線的服務質 素。他強調:「所有員工不論在哪一個崗位工 作,無論負責對內還是對外,都須牢記自已 有責任提升公司的整體客戶服務水平。」

他說:「我們會向各層級員工收集意 見。服務提升委員會會審核這些意見。當我 們決定甚麼方案切實可行後,就會悉力以赴 做到最佳。我們的新意念不限於客戶服務, 亦覆蓋環保及社會服務等。其中一個創新概 念是設立「保險商店」為概念的客戶中心, 讓理財顧問與客戶在舒適的環境下會面,以 更了解客戶需要,從而提供產品資訊及適切 的建議方案。」

該公司的努力,亦受到零售及服務業行 內專業組織所嘉許,包括在2013年獲香港 客戶中心協會頒發大獎–神秘客戶撥測大獎 (金融及保險組)–金獎;2014年榮獲香港 零售管理協會「2014年傑出服務獎」;2015 年《資本壹周》「人壽保險服務大獎」,以及 香港保險業大獎2015–傑出客戶服務最後三 強等等。

為把業務進一步滲透到本地社區,國壽海外 在北角、灣仔及旺角設立了客戶服務中心網 絡,以方便普羅大眾投保及查詢,並提供實 時財務甚至健康資訊服務。

許意雄續指:「通過向年輕一代推廣理 財教育,我們在各方面都取得一定的競爭優 勢。我們特選的客戶服務中心,更備有特別 設計之主題互動遊戲,以增加年輕一代對理 財規劃的了解和興趣。我們也會通過不同社 交媒體平台如:微信、Facebook 及Youtube 等與年輕受眾接觸。」

許意雄表示,為了讓客戶更充份了解 保持健康生活的重要性,他們亦已夥拍康 健國際醫療集團有限公司及Sino Dynamics Solution Ltd. 開發了一個名叫「OnePass」的 健康生活O2O平台。它結合了健康監測、生 活及財務管理的功能,是目前市場上,唯一 結合保險公司及醫療集團優勢的流動應用程 式,讓用戶享受高效及便捷的醫療及理財服 務,例如:獲得最新保險產品資訊和優惠, 通過One Pass記錄健康數據,監察身體狀 況,更連接熱線中心,為用戶提供個人化的 健康管理服務。

今時今日,大家更靈活的選擇自己的退 休年紀。國壽海外也適時調整其保險及退休 方案以適應新趨勢。許意雄指出:「我們的 客戶可以從一系列的退休產品中,選擇保費 繳付年期、提取年金年期及方式等,以切合 其本身需要。在2016年,我們會推出一個全 新的萬用壽險服務,以讓客戶選擇最好的醫 療或壽險保障組合。」

總的來說,許意雄對該公司儲蓄類產品深 具信心,可提供更佳回報及保障。他們的短期 和中期方案,目前比銀行儲蓄更具優勢。 BM

(*i) 有關詳盡條款及細則,概以計劃之保險合約條款 及細則為準