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Ping An plans more investment into fintech and meditech totaling USD 14.4 billion
CKN
2018/11/09 03:08:11
2,392

Nov 09, 2018 (China Knowledge) - Ping An Insurance intends to invest another USD 14.4 billion into financial and medical technology research over the next 10 years to cement its current leading position in the financial services technology.

The insurance company has invested USD 7 billion into scientific research over the last 10 years and has made many advancements in the areas of artificial intelligence (AI), blockchain and cloud technologies. The company currently uses cutting-edge technology in its services such as automated insurance claims which can be processed within a day and its own healthcare services platform which is powered by AI.

The company which operates under 5 ecosystems, namely, finance, healthcare services, auto services, real estate services and smart urban services expects these ecosystems to continue to benefit from its active participation in AI, blockchain and cloud computing research and development.

Ping An Insurance is China’s largest insurer by market value and the second largest life insurer in terms of premiums. The company is also a leading player in the country’s fintech ecosystem.

It currently has more than 1,000 AI experts, 5 AI research institutions and more than 10 world-class joint research institutions. According to deputy CEO, Chen Xinying, Ping An Cloud is also the largest and most widely used financial cloud platform in China.

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