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China Life Insurance offers a range of insurance services to more than 500 million customers in China. The 72-year-old state-backed firm has started transforming itself amid challenges from more tech-savvy rivals like Ping An. That effort includes building out a centralized digital ecosystem that now features 170,000 different types of services and facilitates communication between China Life, its customers, and health care providers. The insurance giant is also preparing for China’s looming demographic challenge, doubling the pension assets under its management to an estimated $142 billion in recent years to help China care for its aging population.
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