Shanghai-based insurance provider aims high

Shanghai-based Aegon THTF Life Insurance Co Ltd said it plans to further explore its digitized business model this year and cultivating a new customer operation system to better serve China's surging demand for better services.

The insurer aims to pursue a technology-driven business model and will put more effort into developing advanced technologies and synchronizing its digital platforms, such as the company’s website and its official WeChat and Weibo accounts.

It will also endeavor to cultivate a new customer operation system by focusing on the high-net-worth group as well as the aged, who hold high expectations for their retirement, with the aim of creating more meaningful connections between the company and their customers.

Formed in 2014, the company is a 50:50 joint venture between the Netherlands' insurance giant Aegon N.V. and China's high-tech company THTF. 

As of the end of 2018, the underwriter has assets of 12 billion yuan (US$1.77billion) and boasts a team of 3,500 sales agents.

Last year, Aegon THTF Life upgraded its mobile marketing system in a bid to ride on the wave of insurance technology and deliver a better customer experience. It also introduced an Internet-based insurance plan to help people cover risks from critical illness. 

The structure of its insurance product lines thus became better optimized, with long-term health and protection-oriented plans contributing to 68 percent of overall premiums as of the end of the third quarter, said Wang Qianjin, chief human resources and administration officer of the joint venture.