0
0
Home » Insurance

China Life Insurance Company – Enterprise Tech Ecosystem Series

The annual ICT spending of China Life Insurance Company was estimated at $5.8 billion in 2021. A major share of this spending earmarked for software, hardware, and ICT services. China Life Insurance Company, a subsidiary of China Life Insurance (Group) Company, offers a range of life insurance products. It provides term life insurance, whole life insurance, endowment insurance, universal life insurance, group life insurance, and annuity policies. China Life also provides accident and health insurance products such as medical expense insurance, disease-specific insurance, and defined benefit insurance. The company serves individuals, SMEs, and large institutional clients in China. It markets and distributes products through direct sales representatives, insurance agency companies, commercial banks, and insurance brokerage companies.

The China Life Insurance Company enterprise tech ecosystem series report provides insight into China Life’s fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, and its estimated ICT budget.

Digital Transformation Strategies

Under its China Life Revitalization strategy, the company aims to strengthen its capacity in multiple fields. It is focusing on strengthening risk management and control, augmenting asset liability management, and improving corporate governance. It also plans to accelerate digitization across its operations in order to improve sales, service, and management, as well as augmenting the customer experience for retail and wholesale customers. The company has upgraded its legacy IT infrastructure through the creation of a platform layer and developed over 170 APIs to interoperate multiple databases, standards, and interfaces. Additionally, it is centralizing and standardizing its network of 30,000+ offices, upskilling staff, and speeding up integration of service platforms to simplify its insurance value chain operations.

To gain more insights on digital transformation strategies and initiatives of China Life Insurance Company, download a free report sample

China Life Insurance Company Technology Theme Focus

China Life is exploring technologies including AI, machine learning, and big data to provide enhanced payment experiences, achieve operational efficiencies, and minimize fraud.

China Life Insurance Company Technology Theme Focus

China Life Insurance Company Technology Theme Focus

To know about other technology themes under focus for the company, download a free report sample

China Life Insurance Company Technology Initiatives

China Life Pension Company entered into a strategic agreement with Style Analytics to leverage its Portfolio Analysis platform. China Life integrated Style Analytics’ platform into its business, enabling it to deliver personalized and intuitive insights for equity funds, risk, and performance. This partnership helps China Life provide customers with optimized portfolios aligned with their investment goals.

For more insights on other technology initiatives of China Life Insurance Company, download a free report sample

China Life Insurance Company ICT Spend by Function

  • Communications
  • Data center
  • Network
  • Application
  • End-user computing
  • Service desk
  • Management

China Life Insurance Company ICT Spend by Function

China Life Insurance Company ICT Spend by Function

For more insights on ICT spending by function, download a free report sample

China Life Insurance Company ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/Consulting firms
  • Specialist outsourcers
  • Systems integrators

China Life Insurance Company ICT Spend by Channel

China Life Insurance Company ICT Spend by Channel

For more insights on ICT spending by channel, download a free report sample

China Life Insurance Company External ICT Spend by Segment

  • ICT services
  • Software (including Cloud SaaS)
  • Hardware (including Cloud Iaas)
  • Network and communications
  • Consulting
  • Others

China Life Insurance Company External ICT Spend by Segment

China Life Insurance Company External ICT Spend by Segment

For more insights on external ICT spending by segment, download a free report sample

China Life Insurance Company Tech Ecosystem Overview

Total ICT Spending 2021 $5.8 billion
ICT Spend by Function Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others
Technology Theme Focus Artificial Intelligence, Big Data, and 5G

Reasons to Buy

  • Gain insight into China Life’s fintech operations.
  • Discover its fintech strategies and innovation initiatives.
  • Learn about its product launches, partnerships, and investments.

Key Players

Aurora Mobile

Style Analytics

Lenovo

Baidu

Taiwan Life Insurance

TransGlobe Life Insurance

Cathay Life and Property Insurance

Shin Kong Life Insurance

Fubon Life and Property Insurance

Nanshan Life Insurance

Yuanta Life Insurance

First Life Insurance

Deloitte

Tencent

Didi Chuxing

Jusda

XtalPi

JD Logistics

Venus MedTech

Table of Contents

Table of Contents

Overview

Digital Transformation Strategy

Technology Focus

Technology Initiatives

Investments

Partnership and Investment Network Map

ICT Budget

Key Executives

About GlobalData

Frequently Asked Questions

The annual ICT spending of China Life Insurance Company was estimated at $5.8 billion in 2021.

 

 

 

The key ICT spending categories by function for China Life Insurance Company are communications, data center, network, application, end-user computing, service desk, and management.

The key ICT spending categories by channel for China Life Insurance Company are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.

The key external ICT spending categories by segment for China Life Insurance Company are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.

Some of the key technological theme in focus for China Life Insurance Company are artificial intelligence, big data, and 5G.

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2960

Join our mailing list

Saved reports