Insurance company offers clients more value-added services

Aviva-Cofco Life Insurance Co Ltd, a China-UK joint venture insurer, will strive to offer more valued-added services to its clients, according to the company's top management.

"In order to meet all kinds of customer demand, we want to provide our clients with more value-added insurance services from different channels," said Lu Yan, managing director of Aviva-Cofco Beijing Division.

For instance, the company will selectively provide an overseas scholarship program for its clients as its latest effort in offering value-added services for its policy holders.

With western education becoming more and more recognized in China, an overseas educational program has become one of the company's important means to repay its clients, said Chen Mingchun, vice-president of Aviva-Cofco.

"Education is the best treasure we can give to our children," he said. "And that's the starting point of our programs."

In recent years, Aviva-Cofco has provided customized value-added health services for more than 1 million clients and users, including health consulting, international assistance and clinic service, according to Lu.

At the beginning of 2018, the insurance industry witnessed a decline, with the overall insurance premium experiencing a drop of 11.2 percent year-on-year in the first quarter, according to statistics from the China Insurance Regulatory Commission.

However, Aviva-Cofco Beijing Division's Annual Premium Equivalent, a key index for future growth potential, reached 193 million yuan ($28.5 million) in the first half of 2018, a 23 percent year-on-year growth, according to the company's statement.

Fan Hang contributed to this story.