China Pacific Insurance Co to deepen partnership with Huawei

China Pacific Insurance Co on Tuesday signed an agreement with Huawei to deepen cooperation in digital and artificial intelligence.

CPIC will enhance the adoption of Huawei's technology in cloud computing, big data, image and voice recognition, as well as digital safety in building CPIC's internal system, database, and implementation of artificial intelligence, the insurer said in a statement.

CPIC said it would maximize coordination among various units to offer clients multiple services, with reforms of corporate digital systems.

The new memorandum of understanding extended the two companies' three-year cooperation in big data, cloud computing, and multi-channel consumer services.

CPIC last month reported a six percent year-on-year increase of profit in the first half, reversing from a 45.6 percent decrease in the same period last year.

Kong Qingwei, who became chairman of CPIC in June, said the insurer will continue to focus on long-term and value-oriented businesses.

He said the company will prioritize developing talent and digitalization, enhancing cooperation among group subsidiaries, improving centralized strategic control, and increasing investment in the health and pension business.