Since the establishment of the credit management system in 2015, China Pacific Property Insurance Co., Ltd. (CPIC) has always adhered to the service concept of credit as a service for the public, strictly abided by the regulations and norms of various regulatory systems such as the People's Bank of China's Credit Industry Management Regulations, actively promoted credit knowledge to customers nationwide, guided customers to cherish their own credit, and contributed to the continuous improvement of the social credit system with too many insurance forces.
Credit escorts inclusive finance, supporting small and micro entities through financial services
Private and small and micro economies are important components of the national economy. They have played an important role in stabilizing growth, promoting innovation and employment, and are important contributors to China's economic growth and driving force in promoting China-style modernization and high-quality development.
Since it joined the credit system of the People's Bank of China in 2015, CPIC has always firmly shouldered the responsibility of supporting small and micro entities through inclusive finance and promoting integration between banks and insurance companies, focusing on providing credit-enhancement services to small and micro enterprises (SMEs), and granted authorization by information subjects, with an annual query volume exceeding 2 million. CPIC has successively connected to personal credit reports, corporate credit reports, and personal provident fund deposit information in 2017, 2021, and 2022, respectively, to play an important role in identifying risks and realizing sustainable high-quality development of inclusive finance. In 2024, CPIC will further connect to individual central bank credit scores, combine individual credit scores with internal corporate rating cards to form a two-dimensional rating matrix, and further evaluate and accurately identify high-quality credit customers, further improving the accessibility of inclusive finance (credit data scope includes all credit data queried from the credit system of the People's Bank of China accessed by the company through the Shanghai City Financial Services Portal).
Over the past eight years, CPIC has accumulated helped over 470,000 SMEs obtain financing totaling over 260 billion yuan from banks and other financial institutions through its own risk control system and the People's Bank of China's credit system. It has effectively played the role of financing and credit enhancement, solved the problem of difficult financing and guarantee for a large number of SMEs and individual industrial and commercial households, and has played a stabilizing and shock-absorbing role in constructing a sound, multi-level, multi-dimensional, and shock-resistant financial lending system in China, fully practicing the guidance of the People's Bank of China's credit policy, such as love credit, benefit the people's livelihood, and help development.
At the same time, CPIC also digs deep into the multi-scenario application value of credit reporting data, helps product innovation, and further enhances the service range of inclusive finance.
Innovative construction of a 'mortgage guarantee for auction' full-scene refinancing housing finance unique service.CPIC provides exclusive mortgage guarantee insurance for house auctions based on customer credit qualifications, greatly improving the efficiency of court auction transactions and bank loan efficiency without increasing financial risks, reducing the comprehensive financing cost for customers, and creating a seamless connection between the courts, banks, and customers. The service has been well received since its launch and has won many national and industry-wide awards for inclusive finance.
Based on the People's Bank of China's credit system, CPIC innovatively introduces financial services based on blockchain technology, which grants compulsory execution effectiveness to network notarization of debt instruments, greatly reducing the probability of personal bad debts for customers and shortening the duration of debt resolution.This service has significantly improved customer service efficiency and greatly reduced post-insurance disputes and litigation risks since its launch in late 2023. It has not only protected customers' good personal credit records but also fully demonstrated the innovative initiatives of CPIC in protecting consumers' rights and interests in terms of information disclosure and choice protection for financial consumers.
Launch 'Treasure Credit' promotion to protect customer's legal rights and interests.
CPIC deeply practices the guidance of the People's Bank of China's Credit Propaganda Work, adheres to the concept of 'credit for the public', and actively carries out various themed series of credit knowledge promotion and education activities each year. From 2022 to present, it has covered approximately 7.26 million consumer audiences in total, receiving widespread praise from consumers and social publicity.
According to the relevant guidelines of the People's Bank of China, CPIC has established a normalized publicity activity mechanism, carrying out various forms of activities on important holidays such as the Chinese traditional New Year, Consumer Rights Protection Day on March 15th, Credit Record Care Day, and National Day. By integrating credit promotion with holidays that are familiar to the public, it strengthens social awareness and importance of credit through more accessible and understandable ways.
Through the integration of credit-related activities and festivals, CPIC has increased social recognition of credit and importance of credit through more accessible and easy to understand methods.
(CPIC credit promotion series of activity posters)
Activity design features, diversification.
China Pacific Insurance uses a variety of online and offline methods to continuously expand the influence of its credit education campaign. Online, through WeChat Work, WeChat and phone calls, targeted publicity about credit knowledge is conducted based on the customer's situation. Offline, by going to government offices, communities, villages, enterprises, and schools, the awareness and attention of the society towards credit has been further enhanced. In addition, China Pacific Insurance organizes special credit knowledge promotional activities at each business outlet, effectively helping corporate clients enhance their credit awareness.
(Online and offline publicity activities of China Pacific Insurance)
Professional and vivid credit education
Professional empowerment: China Pacific Insurance updates and improves its credit special training courses every year, and organizes special morning meetings to carry out publicity and interpretation of the series of documents and credit center's official channels, ensuring that the credit information delivered by service personnel to the public is accurate, objective, fair, and professional, and positively guiding the public to care about credit. At the same time, annual publicity work summary and activity plan for the next year are organized each year, in order to deliver more accurate and up-to-date credit knowledge to customers in a more professional manner.
(China Pacific Insurance Credit Special Morning Meeting)
Combining knowledge with fun: During the publicity activities, China Pacific Insurance regularly collects and organizes real case stories from various regions, using novel forms of publicity such as customer service ambassadors' explanations and original comics to attract the interest of the public and vividly popularize credit knowledge such as personal credit rights.
(China Pacific Insurance Credit Education Comics)
Risk warning: China Pacific Insurance consistently issues promotional materials for the normalization of 'credit repair' traps at nearly 300 business service outlets nationwide, popularizing knowledge and preventing financial risks for the public. Meanwhile, during the '3.15 Consumer Rights Protection Day' event, publicity activities are conducted through workplace arrangements, online and offline education, fun quizzes, and other forms, promoting the public's awareness of personal credit subject's credit rights and avoiding falling into traps designed by illegal actors, effectively protecting the legal rights and interests of financial consumers and guiding the public to safeguard their rights and interests through legal means.
(China Pacific Insurance Credit Education and Quiz Activity Scene)
Special governance: In accordance with the requirements of the 'Notice of Shanghai Branch of the People's Bank of China on Carrying out the Long-term Governance of the Chaos in 'Credit Repair' Work', China Pacific Insurance fully implements the crackdown on the chaos in 'credit repair', effectively protecting personal information and maintaining the fairness of credit system. Firstly, a normalized collection mechanism for illegal clues is established, and the 'credit repair' clues collected are regularly reported to the People's Bank email box (currently 125 clues have been collected); secondly, an online personal credit training platform is built to regularly train professional staff in credit management, credit repair, and other special knowledge, including relevant laws and regulations, objection handling procedures, political education, case warnings, credit repair, etc.; Thirdly, by entering communities, enterprises, schools, villages, and government offices, special lecture activities on the harm of 'credit repair' trap are carried out, as well as thematic knowledge on how to protect individual credit from harm. In addition, customer service personnel at each business service outlet of China Pacific Insurance can provide customers with answers to their enquires one by one.
Credit work is a normalized work mechanism that needs to be persevered and constantly carried out. China Pacific Insurance will continue to adhere to the service concept of 'credit for the people' and use more colorful forms of activities to promote the importance of cherishing and guarding credit to the general consumers. At the same time, by empowering credit to innovate product design and service models, China Pacific Insurance will effectively make a large-scale financial contribution to help more private, small and micro enterprises (owners) solve financing and guarantee difficulties and contribute Tai Bao's wisdom and strength to building a strong financial country.