Financial Innovation: Ping An Explores "Finance + Health & Elderly Care"

Article / 2024-08-17

On September 25th, the People's Daily prominently featured a report on Ping An Group's financial development path on its front page, focusing on how the group practices "finance for the people" through "integrated finance + medical and elderly care" services.

In supporting the development of the real economy, Ping An Group focuses on multiple dimensions to excel in the five major chapters of finance.

On one hand, it strengthens party building leadership, promoting business through party building, and introduces various measures in deeply participating in social governance, serving the comprehensive revitalization of rural areas, and developing new quality productive forces, thereby laying a solid foundation for sustainable enterprise development.

On the other hand, it actively promotes concepts such as green finance and inclusive finance, guiding enterprises towards sustainable development.

This report not only highly praises Ping An Group's achievements in optimizing financial services but also provides valuable experience for other enterprises to learn from.

In the future, Ping An Group will continue to adhere to the path of financial development with Chinese characteristics, insist on a people-centered value orientation, provide high-quality financial services for enterprises and society, and jointly promote high-quality economic and social development.

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The Party emphasizes: "All types of financial institutions must adhere to their original intentions, return to their origins, and effectively enhance their competitiveness and service capabilities to meet the multi-level and diversified financial service needs of the real economy and the people."

The decision of the Third Plenary Session of the 20th Central Committee proposed: "Actively develop technology finance, green finance, inclusive finance, elderly care finance, and digital finance, and strengthen high-quality financial services for major strategies, key areas, and weak links."

Deepening the structural reform of the financial supply side, providing high-quality services for economic and social development, and better meeting the growing needs of the people for a better life, how can financial enterprises innovate?

Ping An Insurance (Group) Co., Ltd. (hereinafter referred to as "Ping An") has explored and achieved results through "integrated finance + medical and elderly care" services.

Innovating medical and elderly care services, and deeply practicing finance for the people, in Cangzhou, Hebei, Ms. Li, an insured person of Ping An Medical Insurance, applied for "direct compensation" service on her mobile phone after being hospitalized; Mr. Ouyang, a citizen of Shanghai with moderate disability, as a customer of Ping An's "Worry-Free Care" home nursing service, enjoys long-term home care services by professional personnel... "We have always adhered to the commitment of 'professionalism, making life simpler', continuously enriching the supply of high-quality financial products and medical and elderly care services, and striving to meet the people's needs for a better life."

Ping An Chairman Ma Mingzhe said.

20,000 technology developers, tens of billions of yuan in annual technology research and development investment, more than 52,000 patents; 50,000 internal and external doctors, 36,000 cooperative hospitals, 602 home elderly care services... A solid "technology base" and an efficient medical and elderly care comprehensive service platform support Ping An to continuously improve its operational efficiency and the level of financial, medical, and elderly care services.

A series of data confirm the company's efforts and consumer recognition.

Every second, Ping An's service hotline serves an average of 24 people; every minute, nearly 1,000 customers complete insurance claims through online and offline diversified methods; every day, it provides exclusive risk protection for 650,000 new citizens.

Ping An's mid-2024 report shows that the group currently serves 236 million individual customers, of which 150 million customers use medical and elderly care services.

Accurately supporting the real economy, doing well in the five major financial articles, from the Gobi to the grasslands, wind power facilities tens of meters high are spectacular.

As a new type of power infrastructure, wind power production safety cannot be careless.

Ping An Property Insurance has received consecutive reports of blade damage from a wind power company.

After the survey and compensation, with risk management experience, the compensation service personnel believe that there may be technical problems in the production of the blades.

They found that the temperature and pressure control in the main structure manufacturing process of the blades were unstable, causing the blades to have subtle height differences, which buried the hidden danger of cracking.

After finding the problem, Ping An Property Insurance helped the company improve the production process.

Domestic large aircraft, "Blue Whale I" drilling platform, Sichuan-Tibet Railway... Ping An covers the entire chain from front to back, helping the high-quality development of the real economy.

On the Shenzhen-Zhongshan Corridor, vehicles are flowing continuously.

To ensure the safe and efficient construction of the project construction party, Ping An fully participates in the insurance projects of the 9 sections of the main project of the Shenzhen-Zhongshan Corridor, providing a total of about 8 billion yuan in risk protection.

In the forest, birds sing together, and shrimp and crabs gather in shallow waters.

Shenzhen Futian Mangrove Ecological Park is full of vitality.

Ping An Property Insurance introduces the Mangrove Carbon Sink Index Insurance, which uses the "insurance + technology" method to quantify and monitor the growth of forest carbon sinks, and helps green development with financial innovation.

"The live broadcast room is popular, and lilies are very popular."

In Lin Tao County, Gansu, live broadcast helps increase the income of growers.

Ping An helps villagers settle down and live a good life by providing inclusive financial services, carrying out consumer assistance, enriching educational resources, and training medical and nursing skills.

Since 2018, the "Three Villages Project" has been carried out continuously, helping village businesses, village doctors, and village education.

"Sleep monitoring mattresses, fall recognition radar, one-button alarm for help... Ping An's home elderly care services make me feel very secure."

Shenzhen citizen Mr. Wu's home has been transformed to be suitable for the elderly, which is convenient for daily life.

It is understood that Ping An continues to optimize the "residential body" home elderly care standard service system, continuously meeting the diversified elderly care needs of the people.

"Through the data transmitted by satellites, I can understand the soil condition of the tea garden at any time and do a good job in field management with automated equipment."

Wen Weibing, a tea farmer in Zijin County, Heyuan City, Guangdong, said that Ping An Bank's Nebula IoT plan helped him achieve digital agricultural production, increase efficiency, and reduce costs.

Data shows that as of the end of June, Ping An has invested nearly 946 trillion yuan to support the development of the real economy.

"Ping An will adhere to the fundamental purpose of serving the real economy, and further do well in the five major financial articles."

Ma Mingzhe said.

Strengthening party leadership in improving corporate governance in early August, in the heavy rain in Shijiazhuang City, Hebei, party members wearing "Ping An Orange" stood guard at low-lying waterlogged sections, reminding passing vehicles and pedestrians to be cautious.

"Do not easily believe the phone call of 'agency withdrawal of insurance'."

"Check the 'sleeping insurance policy' to avoid missing protection."

Not long ago, the party members of Ping An's branch in Kunming, Yunnan, formed a "Consumer Protection Little Trumpet" propaganda team, popularizing financial knowledge in outlets, communities, squares, and other places.

The report of the 20th National Congress of the Party proposed to promote state-owned enterprises and financial enterprises to strengthen party leadership in improving corporate governance, strengthen party building work in mixed-ownership enterprises and non-public enterprises, and sort out the management system of party building work in industry associations, societies, and chambers of commerce.

Ping An strengthens the position of the party committee in corporate governance and gives full play to the role of grassroots party organizations as a fortress of fighting.

"Integrate party leadership into all aspects of corporate governance, ensuring that the company's development direction and business management are in line with the party and national policies."

Ping An Party Secretary Hu Jianfeng said that Ping An strengthens party building leadership and promotes business through party building, and introduces various measures in deeply participating in social governance, serving the comprehensive revitalization of rural areas, and developing new quality productive forces, thereby laying a solid foundation for sustainable enterprise development.

To better fulfill corporate social responsibility, in recent years, Ping An has continuously established and improved the ESG (environment, society, and corporate governance) management system, forming a scientific and comprehensive index system and a clear and standardized performance assessment mechanism.

At present, Ping An's mainstream ESG rating results at home and abroad are all at the leading level of the industry.

"Ping An will unswervingly take the path of financial development with Chinese characteristics, adhere to a people-centered value orientation, create value for customers, employees, shareholders, and society, and serve high-quality economic and social development with high-quality financial development."

Ma Mingzhe said.