News Coronavirus watch30 Jul 2020

China:Insurer bucks the trend, steps up recruitment efforts

| 30 Jul 2020

While most insurers are freezing headcounts amidst the coronavirus pandemic, Beijing-based insurer Taikang Life is launching recruitment initiatives for insurance sales agents aggressively across China.

The insurer has received widespread attention from the industry with its determination to recruit more talents and buck the trend of companies halting their hiring efforts.

At an award ceremony held earlier this week, Taikang Insurance Group CEO Chen Dongsheng highlighted the importance of talent in the post-pandemic era and said he would try to expand the company’s sales team.

Speaking at the same ceremony, insurance economist and Peking University professor Sun Qixiang told award winners that even in the Internet era, the role of the insurance intermediary is difficult to replace.

She pointed out that despite people living longer, two-thirds of people over the age of 60 in China are living with various of diseases, and there are still many people living in poverty who are unable to provide appropriate care for their elderly.

She added that the insurance salesperson should not only be a messenger to deliver insurance products to insurance consumers but also be the designers of elderly care needs, planners of wealth needs, and comforters of psychological needs.

On a similar note, Mr Chen said that in the future, Taikang intends to build a team of health and wealth planners (HWP) with more than 10,000 people.

“Human society is facing the ultimate challenge of the ageing population. A hundred-year-old life is approaching and everyone will live with illness for a long time in the future. Therefore, Taikang plans to create three closed service loops of longevity, big health, and prosperity. They link to pension, high-end medical care and financial management,” he said.

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