Being Brave is the Only Way to Create Infinite Possibilities after Stepping into Post-pandemic New Normal

The year 2021 was full of challenges for Taiwan and other countries in the world: The COVID-19 pandemic continued to have an impact on every country. The daily lives of Taiwanese people were completely changed by the abrupt Level 3 epidemic alert. Also, during this time, the climate change report released by the Intergovernmental Panel on Climate Change (IPCC) of the UN issued a "code red" for humanity. If temperature continue to rise unchecked, species and natural resources will face an unprecedented crisis. In the battle of fighting against viruses and racing against time, no one can stay out of it. What can we do as a financial institution?

Dare to Change: Leveraging our "Digital Brain" to Drive Innovation for the Digital Transformation

The digital transformation experience accumulated over the years has not only increased agility in operational processes and provided better customer experience, but also enabled Cathay Life Insurance to gain a foothold duing the dramatic changes caused by the pandemic. Immediately following the issuing of Level 3 epidemic alert, Cathay Life Insurance launched remote insurance services, which were upgraded to the Cathay Vision Experience (CVX) platform in the shortest time possible. The platform allows policyholders to complete insurance enrollment with zero contact. As customers obtained protection on the spot, family members who are apart can meet "in the cloud," breaking the constraints of time and space. Through insurance, love is shown and promises to each other are fulfilled. In terms of employee protection, we prioritized the safety of our staff and promptly activated work-from-home mode, which was accompanied by a series of digital tools that enabled employees to maintain high productivity, smooth communication and team cooperation. Also, online collaborative learning removed the restraints that time and location put on learning. The average number of participants in each online session exceeded 1,000.

Dare to Persist: Commit to Protecting Taiwanese People's Bodies, Minds and Wealth

The average life expectancy of Taiwanese people continues to rise with the concomitant increase in unhealthy life years. Whether longevity means happiness or not depends on one's health. Cathay Life Insurance does more than focus on products and help customers build insurance awareness and obtain suitable protection. We also use spill-over effect insurance to encourage customers to maintain good health, continuously expand our health ecosystems service, and integrate healthy behaviors into daily living. Moreover, we pay attention to more than just the health of our customers, mental and financial health are also greatly important to us. We've established Cathay Happiness Farms at various locations in Taiwan, where we guided elderly people to grow vegetables and share meals. The increased interaction between elderly people lowers the risks of being a lonely senior. We also worked with the National Police Agency in holding Anti-Fraud Squad Board Games in local communities to reduce the risk of seniors being scammed out of their pensions and create opportunities for interpersonal interactions.

Dare to Believe: Building a "Sustainable Heart" with Zero-carbon Operations and Low-carbon Investments

“Net Zero” has become a common language between governments and businesses around the world. In 2021, Cathay Group made a commitment to completely use renewable energy by 2030 and achieve net zero carbon emissions by 2050. As the largest subsidiary of Cathay Group, Cathay Life Insurance has also launched a dual strategy that includes "Zero Carbon Operation Transformation" and “Low-Carbon Investment Allocation.” Our continuous promotion of paperless services, such as mobile insurance, enabled us to obtain the only Environmental Protection Administration-certified carbon reduction label in the life insurance sector. We will also launch workplace transformation programs, including letting staff take turns working from home and setting up hot desks, to save electricity and reduce our carbon footprint. At the same time, we will actively arrange renewable electricity procurement and businesses. In terms of low-carbon investment allocation, we will continue to uphold our institutional investor stewardship responsibilities by promoting green transformation in Taiwanese industries through low-carbon investments and engagements.

The future may be full of uncertainties, but only by moving forward bravely can we have the opportunity to encounter beautiful things. In 2022, as Cathay Life Insurance enters its 60th anniversary, the Company will daringly take up more challenges against the impossible, generate more momentum toward sustainability, and continue to protect our beloved land.