Ping An Insurance (Group) Company of China, Ltd. (Ping An) is a world-leading technology-powered retail financial services group.
Finance and technology are our core businesses. While ensuring steady growth in our main financial businesses, Ping An is increasing our investment in technology to empower our main financial businesses with world-leading fintech and healthtech capabilities.
Ping An leverages innovative technologies to support ecosystems: financial services, health care, auto services and smart city services.
Finance + Technology
Ping An employs technologies to improve efficiency, enhance risk management and cut operating costs of our financial businesses.
In recent years, Ping An has surpassed most international financial institutions in the number of technology patent applications. Ping An has also won multiple awards in a number of technology sectors, including artificial intelligence (AI) and blockchain. Through robust data-driven operations, Ping An anticipates trends, makes timely decisions, and takes action ahead of others.
Finance + Ecosystem
Ping An shares leading innovative products and services with others to develop and empower business ecosystems with advanced technologies.
Our Financial Businesses
Life and Health
The Company conducts its life and health insurance business through Ping An Life, Ping An Annuity, and Ping An Health.
The Company applied an artificial intelligence (AI) interview robot to sales agent recruitment interviews. By the end of 2019, 100% of agent recruitment interviews were AI-based, and Ping An Life conducted over six million AI-based interviews, reducing in-person interviews by more than 680,000 hours.
The agents’ exclusive smart personal assistant, AskBob, provides agents with various sales-enabling tools to help them improve sales conversion and improve productivity.
Property & Casualty
Ping An Property & Casualty covers all lawful property and casualty insurance business including auto insurance, corporate property and casualty insurance, engineering insurance, cargo insurance, liability insurance, guarantee insurance, credit insurance, home contents insurance, accident and health insurance and international reinsurance.
It employs new technologies to promote online customer development and improve the service system. In December 2019, the Ping An Auto Owner app had over 25 million monthly active users. Topping the list of auto service apps in China.
Ping An Property & Casualty is also the industry leader for pioneering online claims services. The Ping An Smart Claims Solution uses AI and advanced analytics to automate the entire claim-processing procedure: claim submission, instant inspection and settlement, appraisal and roadside assistance, and auto parts sourcing.
In China, the solution’s AI image recognition can accurately match each claim with databases covering vehicles, auto parts, repair facilities and costs for services. Insurance companies can determine the appropriate damages to be paid out in seconds, and reduces the risks of claims leakage and insurance fraud. The solution also integrates third-party services, including towing, parts providers and claims adjusters.
The mission of Ping An Bank is to build China’s most outstanding, world-leading smart retail bank with technology-driven breakthroughs in retail banking and corporate banking.
The Bank continues to pursue data-driven operations and strengthen financial risk management. Ping An Bank enhanced its capability to serve the real economy by empowering non-state-owned enterprises and small and micro-businesses and supporting poverty alleviation via financial services.
• Asset Management
The Company conducts its asset management business through companies including Ping An Trust, Ping An Securities, Ping An Financial Leasing and Ping An Asset Management.
The Company provides trust services through Ping An Trust and its subsidiary Ping An New Capital. Ping An Trust explores innovative models and channels to service the real economy, built a large platform for special assets, integrated high-quality resources, helped the real economy mitigate risks, and provided relevant investment banking services for enterprises. Ping An Trust continues to establish smart, digital benchmarks for technology applications in the industry.
The Company provides securities brokerage, futures brokerage, investment banking, asset management and financial advisory services through Ping An Securities and its subsidiaries, including Ping An Futures, Ping An Caizhi, Ping An Securities (Hong Kong), and Ping An Pioneer Capital.
Other Asset Management Businesses
The other asset management companies include Ping An Financial Leasing, Ping An Asset Management and Ping An Overseas Holdings. Ping An Financial Leasing empowers business with cutting-edge technologies. It aims to become an expert leader in serving small and medium-sized enterprises and specialized markets in China. Ping An Asset Management is responsible for the domestic investment management business of the Company. It also provides investment products and third-party asset management services to other investors.
Expertise Makes Life Easier
• Financial Services Ecosystem
Ping An’s financial services ecosystem provides diverse financial services including insurance, banking and investment to facilitate seamless connection and closed-loop transactions in varied financial service scenarios.
Ping An has built multiple financial innovation platforms, including OneConnect and E-wallet, to satisfy customers’ comprehensive financial demands, linking assets to funds through “open platforms + open marketplaces.” As of December 31, 2019, there were about 345 million app users of Ping An’s core financial companies.
In traditional finance, Ping An exploits synergies between ecosystems to provide smart, online/offline and one-stop services for retail, corporate and institutional customers.
In the fintech area, Ping An combines financial service experience with cutting-edge technologies to boost service efficiency and enable business management.
For financial institutions, OneConnect’s open platform provides financial service stakeholders with comprehensive, end-to-end business technology services.
For retail customers and merchants, E-wallet provides nearly 300 million retail users with financial and consumption services including wealth management, shopping, daily life, payment, and loyalty point management. E-wallet also empowers the operations of about 2 million merchants by providing comprehensive solutions to acquiring services, treasury management, and value-added financial services.
• Health Care Ecosystem
Ping An has built a comprehensive health care ecosystem of patients, providers and payers. Ping An serves online and offline retail customers through companies including Ping An Good Doctor, Ping An Life, Ping An Annuity, and Ping An Health.
The Health 360 program provides customers with comprehensive outpatient, inpatient, surgical and recuperation services. Ping An Good Doctor provides services including 24/7 online consultation, referral, registration, online drug purchase, and one-hour drug delivery.
Ping An provides medical regulators and service providers with a smart integrated platform covering all the steps before, during and after medical services. Ping An has implemented smart health care projects in over 100 cities, providing comprehensive services including integrated regulatory platforms, AI-based disease prediction, medical image recognition and AskBob – Ping An’s self-developed diagnosis and treatment assistant tool covering smart medical decision support, a health think tank, follow-ups and patient education.
Ping An Good Doctor empowers ecosystem partners with high-quality resources including AI and medical services. Ping An Good Doctor has partnered with over three thousand hospitals, and 94,000 pharmacies. Ping An Good Doctor’s offline health care network covers over 50 thousand medical and health service institutions including clinics and check-up providers.
Ping An provides social health insurers, commercial health insurers, and medical service providers with an integrated smart empowerment solution for systems, services and operations. As of December 31, 2019, Ping An HealthKonnect provided services for more than 800 million people in over 200 cities. Ping An HealthKonnect won the bids for projects of the National Healthcare Security Administration as well as provincial/municipal platform construction projects in Shandong, Hebei, and Qingdao. Ping An HealthKonnect’s Social Health Insurance Digital Risk System provides users with targeted, effective cost control services by identifying 40 typical fraud scenarios.
• Auto Services Ecosystem
Ping An provides auto services through companies including Autohome, Ping An Property & Casualty, Ping An Bank and Ping An Financial Leasing.
Ping An serves auto owners and empowers automakers, dealers and auto repair shops through a comprehensive auto services ecosystem covering auto showcasing, purchase, and use.
In December 2019, Autohome had a daily average of 36.83 million online mobile unique visitors.
As of December 31, 2019, the Ping An Auto Owner app had over 90 million registered users, about 49 million of whom were auto insurance customers of Ping An Property & Casualty.
Ping An Bank actively promoted its auto owner credit card which integrated the auto owners’ benefits, transaction services and financial services to provide auto owners with high-quality, convenient one-stop service experiences.
As to businesses, Ping An had more than 27,000 paying dealers, of which over 17,000 bought Ping An’s data products, and covered over 90 automakers.
• Smart City Ecosystem
Ping An’s smart city ecosystem promotes sustainable city development with self-developed AI, blockchain, cloud computing and other leading technologies.
As of December 31, 2019, Ping An’s smart city ecosystem benefited 115 cities, 500 thousand enterprises, and 50 million citizens.
Ping An helps local governments increase their efficiency in fiscal, performance, policy and environmental management through its integrated smart government service platform. Its smart fiscal system serves more than 4,000 administrative entities, companies and public institutions.
For business development, Ping An has built an integrated smart business platform to provide comprehensive services to 500,000 enterprises. Its smart macro-economic and industrial chain analytics cover more than 150 cities across China, 34 analysis themes, and over 4,500 economic metrics.
Ping An’s integrated smart citizen service platform provides 50 million citizens with more than 4,000 online services, and has over 7 million monthly active users. Its smart health care services cover 14,000 medical institutions.
Ping An’s smart transportation platform increases accident processing efficiency and reduces vehicle safety hazards by automatically handling over 100,000 traffic violations per day.