HONG KONG and SHANGHAI, Nov. 20, 2017 /PRNewswire/ -- Ping An Insurance (Group) Companyof China, Ltd. (hereafter "Ping An" or the "Group", HKEx: 2318; SSE: 601318) held its second investor day this year. Today's event focuses on two key topics: namely the prospects for the
Today Ping An outlined the positive growth outlook for its market leading Life business; whose profitability has provided the foundation for our multi-year technology R&D investment. Ping An Life is well positioned to deliver high quality new business value growth owing to multitude of business specific and industry wide factors; not least China's ongoing consumption upgrade which is in its infancy.
Separately, having unveiled the scale and sophistication of its technology in July, today's event represents the start of Ping An's journey explaining how it uses technology to create value for its shareholders through enhancing performance of core finance businesses (focus of today), providing technology services to clients and the successful incubation of numerous Health-tech and Fin-tech businesses. During today's event Ping An will provide multiple quantified examples of how its core finance businesses (Life, P&C, Bank) performance has been enhanced through the use of in-house developed technology solutions; some of which are already being made available by us to external customers.
Ping An's 2017 Investor Day highlights:
Ping An's "Finance + Technology" business strategy also equals to "2 focuses + 5 key technologies". The technology uses the 5 technologies including artificial intelligence ("AI"), big data, cloud platform, block chain and biometrics as basis and apply these technologies in the 2 focuses of fintech and healthtech. While enhancing the competitiveness of traditional financial business, Ping An also exports its technologies and continuously constructs platforms and ecosystems in the industry.
At present, Ping An has extensively applied its 5 core technologies in the areas of customer management, channel management, customer service and risk management. The use of technologies not only improves efficiency of traditional business, but also helps lower costs, strengthen risk control capabilities and improve experience results, which fundamentally increased the value and competitiveness of traditional business in the financial industry.
During the course of adopting innovative technology to enhance competitiveness of traditional business, Ping An also developed its open technology platform, which offers continuous innovative technologies to other institutions and industries. During the last decade, Ping An has invested over RMB50 billion for the research and development of innovative technologies, and established the 4 major ecosystems of "Financial Services Ecosystem", "Health Care Services Ecosystem", "Auto Services Ecosystem" and "Real Estate Finance Ecosystem".
Mr. Yao Bo, Jason, Executive Vice President and Chief Financial Officer of Ping An, said, "We will continue to push forward our double engine business strategy of 'Finance + Technology', which can drive and enhance our company's competitiveness in the traditional finance business and healthcare industries. Meanwhile, we will export new technologies to other financial and medical institutions to enhance efficiency and make a profit from it. In the future, double engine business strategy will increase Ping An's market capitalization by leaps and bounds.
About Ping An
As China's first joint stock insurance company, Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is dedicated to becoming a world-leading personal financial services provider. Today, it is an integrated, compact, multi-functional financial services group with services that include insurance, banking, and investment. As at 30 June 2017, the Group had over 143 million individual customers. As at the end of June 2017, the Group's consolidated total assets reached RMB5.99 trillion while equity attributable to shareholders of the parent company stood at RMB425,780 million. Ping An Life and Ping An Property & Casualty are both ranked the second largest in China, Ping An Annuity ranked top in China in their respective areas by premium income. Its subsidiary Ping An Bank is China's first joint stock bank. The Company's key areas of business include investment, with subsidiaries such as Ping An Trust, Ping An Securities and Ping An Asset Management. Further, Ping An strives to develop internet finance, including Lufax, Ping An Good Doctor, Ping An Haofang, E-Wallet, Financial OneConnect. It has achieved significant growth in both the scale and user base of internet finance. As at 30 June 2017, the number of internet users of the Company reached 403 million.
Ping An ranked 16th in Forbes' 2017 Global 2000, it ranked 39th in Fortune Magazine's 2017 Global 500 Leading Companies. Apart from these accolades, Ping An ranked 61st in WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands ranking.
For more information, please visit http://t.sina.com.cn/pingan, http://t.qq.com/pingan or www.pingan.com.cn.
For enquiries, please contact: Hill+Knowlton Strategies Asia:Beatrice Wong Bowen ChiuTel: (852) 2894 6373 / (852) 9732 8223 Tel: (852) 2894 6233 / (852) 9783 0643Email: email@example.com
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SOURCE Ping An Insurance (Group) Company of China, Ltd.
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