CCB Took the Lead to Enter Commercial Auto Insurance Agency Business

For the Top Three Property & Casualty Insurance Companies

Recently, CCB has launched a trial operation of its commercial auto insurance agency business on behalf of PICC Property & Casualty Insurance, CPIC Property & Casualty Insurance and Ping An Property & Casualty Insurance in Hebei, Fujian, Hubei and Heilongjiang.  It is the first time a Chinese commercial bank becomes an agent for all three big property and casualty insurance companies in the commercial auto insurance business via its banking-insurance system and this signifies a breakthrough in the cooperation between the banking sector and the insurance sector.

Insurance agency service is an important component of CCB’s intermediary business.  At present, CCB is cooperating with more than 50 insurance companies and its volume of insurance sales has been increasing tremendously every year.  By closely working with various insurance companies, CCB has succeeded in developing it commercial auto insurance agency business basing on its existing banking-insurance system.  Moreover, it has been improving its insurance agency sales process and become the first Chinese bank to link up with the three top insurance companies in the area of commercial auto insurance.  As its commercial auto insurance agency business spreads to the whole country, CCB will implement a series of security measures to ensure the safe and smooth operation of its system, allowing it to provide better services to its insurance customers.