Mission Statement, Vision, & Core Values (2026) of PICC Property and Casualty Company Limited.

PICC Property and Casualty Company Limited, founded in 2003 and listed in Hong Kong as 2328.HK, stands as the largest non-life insurer in mainland China, offering motor, commercial property, cargo, liability, accident, health, agriculture, homeowners and credit insurance while serving more than a million customers whose feedback produced a 92% customer satisfaction rate in 2022; its mission-"People's Insurance serving the People"-and corporate culture of integrity, professionalism and innovation are matched by measurable advances such as an AI-driven claims system that cut average processing time from 7 days to 3 days, a proprietary big-data risk tool that improved underwriting accuracy by 15%, a strategic target to lift digital sales by 30% by 2025, green insurance premium growth of 15% in 2023, and a commitment to reduce its carbon footprint by 25% by 2030, all underscoring how mission, vision and core values translate into operational metrics that shape PICC P&C's competitive edge and societal role

PICC Property and Casualty Company Limited (2328.HK) - Intro

• Core business lines: motor vehicle, commercial property, cargo, liability, accidental injury, health, agriculture, homeowners, and credit insurance.
• Public listing: Hong Kong Stock Exchange, stock code 2328.HK.
• Parent: state-owned The People's Insurance Company (Group) of China Limited.

• Mission: Provide stable, accessible, and innovative property & casualty protection to individuals and enterprises across China, supporting social stability and economic resilience.
• Vision: Be the most trusted and technologically advanced non-life insurer in China and a benchmark global insurer in risk management and service quality.
• Core values: Integrity, Customer-first, Prudence, Innovation, Collaboration, Social responsibility.

• AI-driven claims processing: shortened average claim settlement from 7 days to 3 days after deployment of AI triage, image recognition, and automated payment flows.
• Digital channels: mobile app and online portals account for an increasing share of new business and renewals; telematics pilots for motor insurance and parametric pilots for agriculture are expanding.
• Data & risk analytics: centralized actuarial platforms and catastrophe risk models to improve pricing, capital allocation, and reinsurance optimization.

• Prudent reserving and reinsurance arrangements to protect solvency and earnings stability.
• Maintains regulatory capital buffers and adheres to China C-ROSS and international best practices for enterprise risk management.

• Deepen digital transformation to drive efficiency and customer experience (claims automation, AI underwriting, telematics).
• Expand profitable commercial lines and specialized insurance products (construction, liability, cyber, environmental).
• Enhance service quality and retention-sustaining high customer satisfaction and faster claims turnaround.
• Strengthen capital management and diversify reinsurance/reinsurance partnerships.

PICC Property and Casualty Company Limited (2328.HK) - Overview

• Mission statement: 'People's Insurance serving the People' - prioritizing broad public access to insurance protection.
• Customer-centric focus: product design, distribution and after-sales tailored to consumer needs and protection gaps.
• Corporate culture pillars: ethos, professionalism, innovation, righteousness and integrity.
• Social commitment: operating with a view to regulatory compliance, financial stability and societal contribution.

• Digital transformation: deployment of AI and automation across underwriting, claims and customer service to improve speed, accuracy and fraud detection (claims time: 7→3 days).
• Service quality: continuous measurement and improvement of customer satisfaction (92% in 2022) across channels.
• Risk management & solvency: maintaining prudent capital and reserve practices to support the company's public-service mandate and regulatory expectations.
• Community & social responsibility: programs oriented to public welfare, disaster response and insurance accessibility for underserved segments.

PICC Property and Casualty Company Limited (2328.HK) - Mission Statement

• Deliver customer-centric insurance products that address individual, commercial and emerging risk needs.
• Drive digital transformation to improve accessibility, speed and personalization of services.
• Integrate ESG principles across underwriting, investments and operations to support long-term societal and environmental resilience.
• Foster operational excellence and risk management to ensure financial stability and trusted claims outcomes.

• PICC Property and Casualty envisions becoming a leading provider of comprehensive insurance solutions, leveraging innovation and customer-centric strategies to meet the evolving needs of its clients.
• The company aims to achieve a 30% increase in digital sales by 2025 through innovative insurance solutions and enhanced omni-channel distribution.
• PICC P&C is committed to sustainable development, integrating environmental, social, and governance (ESG) principles into its business strategy.
• The company achieved a green insurance premium growth of 15% in 2023, reflecting its focus on eco-friendly policies.
• PICC P&C aims to reduce its carbon footprint by 25% by 2030, demonstrating its commitment to environmental sustainability.
• The company is dedicated to technological innovation, having implemented an AI-driven claims processing system that reduced the average claims processing time from 7 days to 3 days.

• Integrity - transparent underwriting, fair claims handling and regulatory compliance.
• Customer-First - speed, empathy and tailored protection for clients.
• Innovation - data-driven products, AI automation and continuous digital upgrades.
• Sustainability - green insurance solutions, emissions targets and responsible investment.
• Resilience - prudent risk management and capital adequacy to withstand shocks.

• Expand digital channels and partnerships to reach retail and SME customers, prioritizing a 30% uplift in digital penetration by 2025.
• Scale green product suite and underwriting incentives to sustain and exceed the 15% green premium growth recorded in 2023.
• Roll out AI and automation across claims, fraud detection and underwriting to improve speed, accuracy and cost-efficiency (claims avg time now ~3 days).
• Implement enterprise-wide ESG KPIs linking underwritten exposures, investment portfolios and operational emissions to the 2030 carbon-reduction goal.
• Strengthen capital and reinsurance programs to preserve solvency while supporting growth in strategic segments.

PICC Property and Casualty Company Limited (2328.HK): Vision Statement

• Integrity: Conduct business with transparency, ethical governance, and rigorous compliance across all operations.
• Innovation: Invest in data science, AI, and proprietary risk models-driving a reported 15% increase in underwriting accuracy through a big-data risk assessment tool.
• Customer-Centricity: Design products and service channels that respond to individual and commercial client needs with speed and personalization.
• Professionalism: Promote a culture of expertise, continuous learning, and principled decision-making among employees and partners.
• Responsibility: Commit capital and operational capacity to community development, disaster resilience, and low-carbon initiatives.
• Excellence: Pursue best-in-class performance across underwriting margins, claims handling, and investor returns.

Strategic Pillars Translating Vision to Measurable Outcomes

• Digital transformation: Deployment of a proprietary risk assessment platform that integrates telematics, satellite data, and third‑party datasets to refine pricing and exposure monitoring.
• Underwriting discipline: Targeted portfolio steering to control catastrophe exposure and reduce combined ratio volatility.
• Customer experience: Expanded omnichannel claims settlement and mobile-first policy servicing, reducing average claims cycle time by an estimated 20% in recent initiatives.
• Sustainability and social impact: Increased underwriting and investment engagement in green assets and community risk mitigation programs.

Key Financial and Operational Metrics (Selected, Recent Years)

How Core Values Shape Business Practices

• Integrity: Governance metrics-independent board representation and enhanced internal audit cadence-support transparent reporting and investor confidence.
• Innovation: Measured ROI on tech projects includes reduced loss adjustment expenses and tighter pricing bands; underwriting accuracy improved by 15% via the new analytics platform.
• Customer-Centricity: Metrics such as net promoter score (NPS) and digital policy issuance rates guide product redesign and distribution strategy.
• Professionalism: Talent development programs, certification targets, and performance KPIs ensure consistent service quality.
• Responsibility: Allocation of charity funds, disaster relief reserves, and underwriting incentives for green projects demonstrate measurable social returns.
• Excellence: Financial targets (combined ratio <98%, ROE >10%) and operational SLAs drive continuous improvement.

Examples of Value-Aligned Initiatives and Impacts

• Proprietary Risk Assessment Tool - Impact: 15% higher underwriting accuracy; improved risk segmentation led to a 1.5-2.0 percentage-point reduction in combined ratio in pilot lines.
• Claims Digitization - Impact: Average claims settlement cycle reduced ~20%, boosting customer retention and lowering loss adjustment expense.
• Sustainability Lending & Underwriting - Impact: Growing green asset exposure within the investment portfolio; underwriting incentives for renewable-energy projects.