China Life Insurance Company – Digital Transformation Strategies
China Life Insurance Company (China Life) has been focusing on using artificial intelligence, big data and Internet of Things (IoT) to digitally transform its operations. The annual ICT spending of China Life was estimated at $5.8 billion for 2021. A major share of this spending is earmarked for acquiring software, hardware and ICT services from vendors. China Life 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 China Life Insurance Company digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology partnerships, technology introductions, investments, and ICT spending among others.
Digital Transformation Strategies
China Life is applying artificial intelligence and big data to build customer service robots and speech recognition solutions. It has implemented AI models to identify, evaluate, and control risks related to critical illness. It continuously performs anomaly detection and fault location through data analysis and machine learning models.
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China Life Technology Theme Focus
China Life is utilizing a number of emerging technologies including big data, cloud, and blockchain among others to provide enhanced payment experiences, achieve operational efficiencies, and minimize fraud.
China Life Technology Theme Focus
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China Life Technology Initiatives
China Life has been involved in several strategic technology partnerships and collaborations, technology developments and technology investments over the past few years. For instance, in 2020, the company partnered with Aurora Mobile to leverage the latter’s big data analytics platform to provide China Life data centers with access to smart operating data statistics and analytics.
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China Life ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
China Life ICT Spend by Function
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China Life 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 ICT Spend by Channel
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China Life External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
China Life External ICT Spend by Segment
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China Life Digital Transformation Strategies Overview
| Total ICT Spending 2021 | $5.8 billion |
| ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
| 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 | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
| Technology Theme Focus | Big Data, Cloud, and Blockchain |
This report provides:
- Insight into China Life’s technology activities.
- Overview of technology initiatives covering partnerships, technology introductions, and technology investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into China Life’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
Key Players
Table of Contents
Frequently Asked Questions
The annual ICT spending of China Life was estimated at $5.8 billion in 2021.
The key ICT spending categories by function for China Life are communications, data center, network, applications, end-user computing, ICT service desk, and management.
The key ICT spending categories by channel for China Life 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 are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
The key technological theme in focus for China Life are big data, cloud, and blockchain.
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