Ping An's Customer-Centric Integrated Finance Strategy

Ping An's integrated finance strategy is focused on a customer-centric approach, aiming to deepen engagement with retail customers. Ping An has built a business model centered around "one customer, multiple products, and one-stop services".

Leveraging its leading service capabilities, comprehensive product portfolio, professional risk management, and significant technological strength, Ping An is committed to providing customers with “worry-free, time-saving, and money-saving” high-quality service experience.

Expansive Customer Reach

Offline Channels

The integrated financial service model enables Ping An to diversify the operations of offline channels. The Group’s extensive offline channels cover 330 major cities nationwide, with over 7,000 offline outlets and over 1.30 million captive and non-captive sales agents.

Online Channels

Ping An has built a unified technology platform and an “Express Service” gateway, which seamlessly integrates multiple service scenarios and apps. In 2025, the gateway’s average monthly online active customers reached about 90 million.

 Superior Operational Efficiency

Ping An’s unique integrated financial service model significantly enhances operational efficiency and drives cost optimization, consistently strengthening its competitive differentiation in the market. The integrated financial service model also effectively reduces customer acquisition cost, risk cost, and operating cost.

Strategic Achievements

The cost of acquiring internal customers was 35% to 45% lower than that of acquiring external customers on average in 2025.

Enhanced Customer Retention

Ping An has built a comprehensive product portfolio across four categories: protection, asset management, credit, and service, enabling the Group to systematically meet customers’ diverse financial, health and senior care needs.

The portfolio is structured across four core categories:

• Protection (e.g. insurance)
• Asset management (e.g. investment products)
• Credit (e.g. credit card)
• Service (e.g. healthcare, senior care, and medical care)

This diversified structure allows the Group to take a holistic and systematic approach to customer needs.

It also enables Ping An to effectively address a wide range of financial, health, and senior care requirements across different life stages.

By leveraging “one customer, multiple accounts, multiple products, and one-stop services” business model, Ping An has upgraded customer relationships from single-product connections into multi-product synergistic services, enhancing customer stickiness, satisfaction and trust in the platform.

Strategic Achievements

• A 93% retention rate of customers entitled to service benefits in the health and senior care ecosystem in 2025.
• A 99% retention rate for customers holding three or more product categories, indicating significantly higher loyalty.

Customer Development

Ping An has established a huge and well-structured customer base that serves as the foundation for long-term business development.

• Retail customers reached 251 million as of December 31, 2025, up 3.5% from the beginning of the year.
• 33.03 million new customers were acquired in 2025

Integrated finance consistently unlocks customer value:

• Contracts per customer increased to 2.94 as of December 31, 2025.
• Customers served for five or more years accounted for 75.0% of total customers and held 1.7 times more contracts per customer than first-year customers.

Ping An's integrated finance model is further strengthened by the Health and Senior Care ecosystem, which creates powerful cross-selling synergies — health and senior care users recorded a 4 pps increase in upsell rate and 1.5 times higher first-year premium per new policy — demonstrating how the Group's "integrated finance + health and senior care" strategy unlocks compounding customer value across the full lifecycle. This entire model is underpinned by Technology capabilities, from the proprietary vertical AI models and "Express Service" gateway that powers seamless digital interactions, to data-driven decision-making that enables the one customer, multiple products, and one-stop services model at scale.