l. Definition
A range of ICBC services related to bank card for insurance companies, including "Cash before Cover", insurance premium installment, corporate card, co-branded card, Easy Loan credit card.

II. Introduction
1. "Cash before Cover"
"Cash before Cover" is a service where insurance policy document is issued in real-time once customer uses bank card to pay the premium. Insurance company gets the payment details in real-time through the data connection between insurance company and ICBC. According to People's Bank of China and China Banking Regulatory Commission, customers are only allowed to use the credit card credit limit to pay the premium for non-investment type of insurance products. Hence, currently "Cash before Cover" only applies to premium payment for vehicle insurance, property insurance with property insurance companies.

ICBC and insurance company offer two types of "Cash before Cover" services for ICBC credit card holders:
I. Traditional channel cooperation: Special POS are installed at insurance company offices or outlets (4S shop) to accept the payment of premium from customers using bank card. Business cards are also issued for customers to pay in cash.
II. Emerging channel cooperation: "Cash before Cover" service is extended to insurance company's call center. Customers buying vehicle insurance "pay insurance policy without face-to-face communication". "Cash before Cover" service is now available online as more insurance services are offered.

2. Insurance Premium Installment
For customers who use ICBC credit card to pay insurance premium, they have the option to pay by installment within the valid period for any amount over RMB 600, rather than one-off payment. This enables better management on personal and family cash flow.

To insurance company, giving an option for customers to pay insurance premium by installment means less amount for customers to pay one-time when buying insurance. Hence it is possible to offer more and better insurance products to customers.

3. Corporate Card
A Corporate Card is a credit card issued by ICBC to companies for business purpose. Corporate Card facilitates company and employees to pay for business expenses. Data, reports are also provided for company to manage business expenses. An ICBC Corporate Card can be "Business" or "Personal", depending on who is responsible for card repayment. Repayment of "Business" corporate card is borne by the company, while repayment of "Personal" company is borne by the employee.

ICBC issues Corporate Card to employees of insurance companies as Business cards for their business activities. Insurance company can better manage payments, cash flow, reimbursements, better control company expense and improve financial system.

4. Co-branded Credit Card
Based on ICBC credit card products, ICBC and insurance company jointly issue co-branded credit cards to target customers buying vehicle insurance. Value-added services are also offered to cardholders. New co-branded credit cards will provide customers and employees of insurance companies with an easy-to-use settlement tool, serve as a unique product marketing and customer retention platform for insurance and banking customers, and offer more comprehensive, quality insurance and value-added service to vehicle insurance customers of insurance companies.

5. Easy Loan Credit Card
ICBC Easy Loan Credit Card is a "Spend on Credit" card for consumers. Easy Loan Credit Card is a token through which cardholders may use to pay at designated merchants in China. As payment of vehicle insurance premium is typically over RMB 1,000 and given its stable product nature, Easy Loan credit cards offer another service for insurance customers on top of "Cash before Cover" service. To insurance companies, accepting ICBC Easy Loan credit card holders to pay for vehicle insurance at their offices or car distributors will bring a large number of customers.

III. Target Clients
Insurance companies with wide business network. ("Cash before Cover" service - only for Property insurance companies)

IV. Sign up
Insurance company and local ICBC branch carry out market study, open meeting to discuss if there is any potential to cooperate. Both parties work out the new product, functions and services, sign cooperation agreement and start the preparation for the launch. If insurance companies wish to cooperate with ICBC on a nationwide scale through headquarters, they are welcomed to contact Institutional Banking Department, Card Business Department at ICBC Head Office.