On July 7, 2017, the 2nd Chinese Insurance Industry Innovation and Development Summit Forum & Awarding Ceremony of 2017 China Insurance Ranking List hosted by National Business Daily was held in Beijing, during which Asia-Pacific Property & Casualty Insurance Co., Ltd. (API) obtained the honor of “Insurance Company with Outstanding Business Innovation Capability” relying on its innovative development and down-to-earth service.

Since 2016, API has been carrying multi-dimensional innovative transformation, actively exploring into the differentiated competitive strategy, and actively responding to the reform in the commercial auto insurance based on its own advantages. In terms of the operation mode, API has established the customer-oriented flat organizational structure and operation system via Internet technology; in terms of the product development direction, it has established the product development and promotion system according to different demands of group and individual customers; as for the technological innovation, API has made full use of the new mobile Internet technology to promote the WeChat marketing and WeChat video surveying, in order to facilitate the product purchase and claim settlement service, enhance the consumption experience and reduce the operation cost; with regard to the innovation in brand building, API has enhanced the integration with the society, industry and customers by multiple means, and actively built the trustworthy brand image with a high affinity and reputation based on the profound historical accumulation and new brand characteristics.

Formerly established as Min’an Property and Casualty Insurance in Chongqing in 1943, API is one of the earliest national insurance enterprises in China with a development history of over 70 years. In November 2015, Oceanwide Holdings invested in Min’an Property and Casualty Insurance jointly with Macrolink Group, Elion Resources Group and Huiyuan Group upon approval by China Insurance Regulatory Commission (CIRC), among which Oceanwide Holdings acquired 51% shares, becoming the controlling shareholder of Min’an Property and Casualty Insurance. On March 1, 2016, Min’an Property and Casualty Insurance was formally renamed as API. This award is the first comprehensive industrial award for API after the renaming, displaying the good development momentum of API.