Subsidized benefit insurance business. In order to provide more comprehensive protection for the broad masses of the people, on August 28th, 217, the Social Security Fund and China People's Insurance Company formed a strategic partnership to set up a subsidy and relief insurance business, actively seeking a breakthrough in policy business. PICC refers to China People's Insurance Group Co., Ltd., which can be referred to as China People's Insurance Company or People's Insurance Company for short. It is a comprehensive insurance company.