Ping An Life Raising Claim Settlement Efficiency

Ping An Life Insurance Company of China, Ltd. said on September 14 that it would pay interest to consumers provided that personal life insurance claim cases regarding to insurance liability filed by those consumers could not be ended within 30 days.

The life insurance unit of Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318) found that what consumers care about much is how long time it takes to deal with an insurance claim case after making a series of surveys.

In order to raise efficiency, it promised to pay not only indemnity but also interest to consumers provided that personal life insurance claim cases regarding to insurance liability the latter file could not be closed within 30 days. Notably, the interest rate will be not lower than the benchmark interest rate the People's Bank of China, the central bank, sets for demand deposits of financial institutions.