Cathay Life Insurance Co., Ltd. Honored the Inspirational Brand Award at the Asia Pacific Enterprise Awards 2022 Taiwan
SINGAPORE, Nov. 24, 2022 /PRNewswire/ --Enterprise Asia, the organizer of the Asia Pacific Enterprise Awards (APEA) 2022 Taiwan, is pleased to recognize 34 exemplary business leaders and enterprises across Asia who have demonstrated commendable dedication toward spearheading Taiwan's economic recovery and development.
Organized annually across 16 countries and markets, the APEA is the most reputable award recognition program recognizing entrepreneurial excellence across Asia. The Awards aim to congregate outstanding business leaders and enterprises across Asia into one unparalleled platform for fostering the continuity of sustainable entrepreneurial growth in Asian economies.
Cathay Life Insurance Co., Ltd. (Cathay Life) is among the elite award recipients under the Inspirational Brand category. With a business presence in Taiwan, Vietnam, and mainland China, Cathay Life provides insurance products that meet the needs of consumers. It continues to optimize its services in response to changes in respective environments. In 2022, as it ventures into the next 10 years, Cathay Life expands upon its two major strands of DNA—digital innovation and sustainable practice, while holding to the main value of "Be braver than you think."
Cathay Life's business philosophy has been to provide stable energy and happiness. With its 27,000 sales personnel across Taiwan, Cathay Life not only provides complete and diversified insurance services, but it also transforms the role of sales personnel from those who sell commodities to "new family" who provide customers with care and companionship.
Cathay Life demonstrates its social influence through practical ctions in corporate sustainability. Since 2017, it has been offering student group insurance, ranging from kindergartens to high schools in Taiwan. In addition to protecting the health of 3 million students, it has also joined hands with Taiwan's Ministry of Education to promote anti-drug awareness since 2019 by training 6,000 of its employees to work as anti-drug awareness volunteers. Thus far, Cathay Life has promoted drug awareness in 1,256 schools that have benefited more than 1.4 million students.
In face of the challenges of FinTech, an aging society, and the novel coronavirus pandemic, Cathay Life has responded to the spirit of "What if We Could." Since 2012, it has been promoting digital transformation from the inside out and has also actively deployed products and services exclusively for the elderly to address the challenges of Taiwan's aging society.
Moreover, Cathay Life launched Cathay Vision Experience (CVX), a remote insurance service platform, to comply with the regulations of the competent authorities during the COVID-19 outbreak in Taiwan in 2021. The platform provides zero-contact insurance services over video and accounts for 60% of the remote insurance service market. Cathay Life is committed to providing services that exceed customer expectations with its 90%-plus satisfaction rate for 10 consecutive years and the Net Promoter Score (NPS) of 21.1% in 2021.
Cathay Life currently has more than 8 million customers, more than 20 million valid contracts, and assets totaling 8.1 trillion. In 2021, it became the first life insurance enterprise in Taiwan's history with a net profit after tax exceeding NTD100 billion. As an ever-lasting, bold and self-challenging brand, Cathay Life has many pioneering, influential, and unique achievements in the industry, including working with the government to promote Green Leasing 2.0, helping tenants use green energy, and launching the Cathay Walker Plus (CWP, upgrade to FitBack in November 2022), a health incentive project, to improve customers' health. During its 60th anniversary, Cathay Life performs comprehensive visits to review insurance policies and plans for customers throughout Taiwan, and has paid visit to over 2.58 million of customers.
2022 is the 60th anniversary of Cathay Life Insurance. It has accompanied Taiwan for six decades with its spirit of operational integrity. All the while, it has never forgotten its CSR practice in the financial industry. In the future, its strategic blueprint combining "Elder Friendly, Protection First and Sustainability" will become an important force for stabilizing Taiwan's society.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development. Please visit www.enterpriseasia.org for more information.
About Asia Pacific Enterprise Awards
With a presence across 16 countries and markets, the Asia Pacific Enterprise Awards is the region's most prestigious awards for outstanding entrepreneurship, continuous innovation and sustainable leadership. For further information, visit www.apea.asia.
SOURCE Enterprise Asia
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