Working together to realize a win-win situation with strategies: China Re Life and DATONG Insurance Sales and Service Co., Ltd. opened a new chapter for the synergistic development of industrial chain

　　On 18 May, China Life Reinsurance Company Limited, DATONG Insurance Sales and Service Co., Ltd. And DATONG Insurance Surveyors & Loss adjusters Co., Ltd. entered into a strategic cooperation agreement in the China Re Building to initiate in-depth cooperation. The cooperation between all parties to the agreement aims at promoting the synergistic development of market players, giving full play to the resource advantages of various segments in the industry, and taking marketization, specialisation, standardization and internationalization as principles to achieve mutual support, mutual benefit and common development. Tian Meipan, the general manager of China Re Life, Jiang Ming, the president and chairman of DATONG Insurance Sales and Service Co., Ltd. and Wang Zetao, the general manager of DATONG Insurance Surveyors & Loss adjusters Co., Ltd. attended the meeting on behalf of the three parties.

　　China Re Life is the only company specializing in life reinsurance business in China; DATONG Insurance Sales and Service Co., Ltd. is the first national insurance services institution; and DATONG Insurance Surveyors & Loss adjusters Co., Ltd., which was established by DATONG Insurance Sales and Service Co., Ltd., is the first insurance assessment operator specializing in life and health insurance in China. All parties to the cooperation agreement will carry out comprehensive exploration and exchanges in respect of matters related to the application of big data and new technologies, products development, claims and risks management.

　　As for the application of big data and new technologies, China Re Life and DATONG will work together through in-depth cooperation in aspects such as precise pricing, big data intellectual underwriting, customer portrait sketching and customer selection, as well as, jointly develop exclusive products that align with the application of the above big data and new technologies. As for the products development, insurance products applicable to different customer bases, different channels and different scenarios will be developed, including insurance product offerings such as injury insurance for children, term life insurance without underwriting, motor insurance + personal accident insurance. The cooperation model of “products + platform” will be adopted to give full play to the comparable advantages for China Re Life to design and develop insurance products and conduct sales activities through DATONG Insurance Sales and Service Co., Ltd. As for the claim settlement, technical exchanges and training activities for complicated settlement cases will be carried out regularly. As for the risk management, China Re Life and DATONG Insurance Surveyors & Loss adjusters Co., Ltd. will cooperate in the evaluation of the risks of the insurance subject-matter at the stage of underwriting, as well as, conduct settlement examination, anti-fraud cooperation and technical exchanges.

　　The cooperation has opened a new chapter for the first collaboration between a professional insurance intermediary and a reinsurance company, which marks the reinforcement of the synergy effects among the upstream and downstream chains of the insurance industry. China Re Life and DATONG Insurance Sales and Service Co., Ltd. will share complementary resources and promote industry development together with a more market-oriented operational model.