Ping An takes environmental and social factors into insurance practice considerations, sets appropriate risk pricing, and continues to improve our sustainable insurance system.

As a responsible and diversified insurance company, Ping An is committed to integrate ESG concepts into our insurance businesses. This dedication is shown through und-erwriting risk management, namely setting proper risk pricing for insurance products and risk management of the insurer, and the sustainable insurance product system.

Underwriting Risk Management

Ping An continues to research and monitor global climate change risks such as climate warming and extreme weather disasters/ events, and social change risks such as demographic changes, aging population, and high incidence of disease. Ping an manages and avoids risks in the underwriting process, integrats ESG risks within the Group's investment risk management system to achieve reasonable ESG risk pricing of insurance products.

Sustainable Insurance Product System

ESG related risks will encourage natural and market driven needs of developing new insurance products. For example, the increasing probability and frequency of extreme weather conditions and natural disasters bring a huge market for catastrophe insurance, and the change of population structure due to urbanization and aging also present a potential opportunity for developing insurance products for specifics groups of people. In addition, Ping An is also keen on developing inclusive financing insurance products for the less fortunate groups in need of risk coverage.

Ping An actively carries out joint research with peers and industry partners to continuously improve the diversity and professionalism of Ping An green insurance and inclusive insurance product offerings.

Ping An has developed a unique sustainable insurance product system that not only promotes the company’s own economic growth, but also serves the customers while benefiting the environment and the society.

For more details, please refer to the “Ping An Group Sustainable Insurance Policy”.

Ping An underwrites and invests coal-related projects based on a case-by-case assessment.

Coal-related Business Commitment

Ping An actively responds to the initiatives of national regulatory agencies and the United Nations Principles for Responsible Investment (UNPRI) to integrate sustainability into all types of investment and lending activities.

Ping An implements the highest standard in regards to information security with strict privacy protection and ethical governance for artificial intelligence applications.

Information Security and Privacy Protection

Privacy protection is our top priority in our information security management system, and also the bottom line of our management. We have developed the Data Management Measures, External Data Cooperation Management Measures and other procedures to ensure all policies are executed effectively. We have taken a series of data leakage prevention measures, including desensitization of sensitive information and authorization under the principle of “least privilege.”,etc..

For details, please refer to “Ping An Group Information Security policy” and “Ping An Group Privacy Protection Policy”.

AI Governance

Ping An follows the five ethical principles of "humanoriented, human autonomous, secure and controllable, fair and just, open and transparent." in all AI applications such as finance, heal-thcare, governance, transportation, real estate, and law. Ping An has also established a clear AI governance framework from data, algorithm and application perspectives for detailed ethical guidance and goals.

For more details, please refer to the “Ping An Group AI Ethics Governance Policy”.

Ping An adheres to the concept of bringing a positive impact to the society in product development and promotion and extends this responsibility onto the entire product lifecycle management.

Responsible Product Commitment

As an integrated financial service group, Ping An offers a wide range of products and services including insurance, banking, investment and technology. Ping An adheres to the principles of compliance, fairness, inclusiveness, and environmental protection during the life cycle of every product and service. Ping An does not engage in any products and services in violation of individual rights and freedom, or facilitate high emissions, high pollution, ecological destruction, or animals’ rights violations. We take no participation in monopoly, unfair competition, pyramid schemes, and terrorism; violations of applicable laws, regulations, or unethical conduct.

For more details, please refer to the “Ping An Group Responsible Products Statement”.

Ping An aims to extend sustainability to the entire value chain and optimize management along with all partners.

Sustainability and risks not only involve the company itself, but also all players within the value chain. The goal of “sustainable supply chain“ is to achieve long term cooperation and win-win situations for all parties involved with proper business management and regulations. Ping An has many complex and involved relationships with its business and ecological partners. As the Group’s business development and cooperation intensify, upstream and downstream relationships within the entire supply chain will become even more complicated. Ping An has integrated ESG requirements into the closed-loop supply chain management from supplier selection, cooperation approval, process management, throughout to tracking and feedback. Ping An focuses on suppliers’ performance in ESG including environmental protection and employees’ rights. 

Ping An manages the suppliers based on the principles of integrity, transparency, and compliance, and has established clear disciplinary actions and complaint mechanisms to maintain integrity and fairness.

For more details, please refer to the “Ping An Group Sustainable Supply Chain Policy”.

Ping An promotes equality and diversity, ensures employee’s legal freedom and welfare, provides opportunities for development.

Employee Rights

Ping An complies with the eight articles under “Universal Declaration of Human Rights” with well-established anti-discrimination regulations to eliminate unfair treatment, protect employee’s legal rights, and promote a diverse and friendly office environment by organizing various activities. At Ping An, each employee has the right of freedom of expression with a comprehensive channel of opinion collection and feedback, such as email, forum, labor union, etc. Ping An will not interfere with the right of employees to participate in any legal association or formation of associations.

We support the protection of individual rights, such as providing equal opportunities to disadvantaged groups, opposing any form of discrimination, bullying and harassment, and prohibiting the usage of child and forced labor.

Employee Welfare

Ping An gives each employee the right to participate in various forms of training, giving employees full room for progress and development. Employees are guaranteed corresponding medical and insurance coverages. We conduct employee satisfaction surveys on a regular basis, and improve existing conditions based on the survey results to create a better corporate environment.