Ping An Insurance changes focus towards technology

Massive Chinese insurer Ping An Insurance has announced that it will realign its strategy to boost tech and financial protection.

Having previously focused predominantly on banking, trust services, asset management and insurance, W7 News reported that the insurer will now add technology to its roster.

The news comes as Ping An Insurance is pushing further into the FinTech and other innovative areas in China.

As it does, Ping An Insurance is set to develop more products aimed at financial services groups. Particularly, the company will move towards creating tech insurance products across three areas: SME, personal finance and efficiency improvement.

Founding chairman Peter Ma Mingzhe told W7 News, “In the future, focusing on retail customers, Ping An will strive to become a world leader, technology-powered retail financial services group. We will leverage technology innovations to create greater value for customers.”

To date, Ping An Insurance already has over 576 million users in China.

Copyright © 2019 FinTech Global

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