Since July, the 2023 semi annual work conference of insurance companies has been held intensively. The reporter from the Economic Information Daily noted that digitalization has become the focus of insurance companies' efforts, and has gradually become an important force in the company's business transformation, especially the "efficiency dividend" released in strengthening business capabilities, promoting cost reduction and efficiency increase. From the perspective of sales, insurance companies are continuously accelerating their digital sales, and the importance of internet insurance purchasing channels is becoming increasingly prominent. At the beginning of February this year, the insurance mall of China Life Insurance Company Co., Ltd. (hereinafter referred to as "China Life Insurance") was officially launched, initially forming a new Internet direct sales model of "one platform, matrix delivery, thousands of contacts, and global links". China Life Insurance previously stated in its annual report that in 2022, the company's digital sales capabilities were further strengthened, and its internet insurance business grew rapidly. Under regulatory standards, the total premium reached 62.896 billion yuan, a year-on-year increase of 88.3%. The number of registered users of China Life Insurance App reached 129 million, with a year-on-year increase of 6.8% in monthly active population. PICC Property and Casualty Insurance is also accelerating the pace of innovation in internet proprietary platforms. In 2022, the company restructured its total internet insurance combat team, built a new media marketing matrix, explored innovative customer operation strategies, and created a product system with internet characteristics. It is understood that the company continuously optimizes the "one click renewal" of car insurance, and has achieved that customers can complete online self renewal of car insurance as soon as one minute. Since 2022, the customer coverage rate of "one click renewal" of car insurance has exceeded 50%, and the underwriting conversion rate is about 9%. In the past decade, the scale of China's internet insurance market has grown rapidly. According to statistics from the China Insurance Industry Association, from 2013 to 2022, the premium scale of internet insurance increased from 29 billion yuan to 478.25 billion yuan, with an annual compound growth rate of 32.3%. The 2022 China Internet Insurance Consumer Insight Report (the Report for short) jointly released by Yuanbao Group and the China Insurance and Pension Research Center of Wudaokou School of Finance, Tsinghua University shows that during the epidemic, users became more dependent on the Internet, accelerating the process of insurance digitization. The survey found that consumers have shown obvious online preference in the choice of insurance purchase channels, and this trend will be more obvious in the future, among which online professional insurance companies/platforms have the greatest growth potential. With the increasing awareness of the "90s" and "95s" seeking protection and the continuous improvement of their consumption ability, these internet "indigenous people" will continue to release their insurance purchasing needs, and the internet will become one of the main channels for insurance purchasing in the future. Dongwu Securities believes that on the basis of opening up online channels, insurance companies continuously explore user needs and design products, enriching insurance products and usage scenarios. In terms of category comparison, internet insurance products have broken away from traditional insurance and expanded into fragmented life scenarios such as health management, transaction security, and daily consumption, as well as enterprise business scenarios. Full penetration of cutting-edge technologies As new technologies continue to innovate and optimize, the depth and breadth of AI, Big data and other embedded industry scenarios are also increasing. The reporter learned from the work meeting of China Life Insurance in the first half of the year that the company