Ping An Insurance has been focusing on using artificial intelligence, cloud, blockchain and big data to digitally transform its operations. The annual ICT spending of Ping An Insurance was estimated at $8.8 billion for 2021. A major share of this spending is earmarked for acquiring software, ICT services and hardware from vendors. Ping An Insurance is an integrated financial conglomerate providing insurance, banking, and investment products and services to individuals and corporate clients. The group offers a range of life and non-life insurance products such as motor insurance, property loss insurance, liability insurance, credit and trust insurance, cargo insurance, the whole of life insurance, universal life insurance, endowment insurance, health insurance, and annuities.
The Ping An Insurance enterprise tech ecosystem report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerators & innovation programs, technology partnerships, technology introductions, venture arm, investments, and ICT spending among others.
Digital Transformation Strategies
Ping An Insurance is tapping into the power of artificial intelligence (AI) to improve its business efficiency. Its AI-based products and services enable faster claims processing and smart customer service. The company has automated operations including underwriting, policy administration, and claims management processes using AI to reduce turnaround times.
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Ping An Insurance Technology Theme Focus
Ping An Insurance is utilizing several emerging technologies including artificial intelligence, blockchain, and big data among others to achieve operational efficiencies, improve underwriting, and claims management procedures, and minimize security risks.
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Ping An Insurance Technology Initiatives
Ping An Insurance has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, and technology investments over the last few years. For instance, in 2020, the company introduced AskBob Cancer, an AI-assisted medical support system that aids doctors in making precise clinical decisions for the treatment of gastroesophageal cancers. In addition to offering support for clinical decisions, the system also offers services including drug inquiries, online courses, news, and an online forum.
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Ping An Insurance ICT Spend by Function
- Data center
- End-user computing
- ICT Service desk
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Ping An Insurance ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
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Ping An Insurance External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Network and communications
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Ping An Insurance Tech Ecosystem Overview
|Total ICT Spending 2021||$8.8 billion|
|ICT Spend by Function||Data center, Communications, Network, Application, End-User computing, Management, and ICT Service desk|
|ICT Spend by Channel||Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators|
|External ICT Spend by Segment||Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others|
|Technology Theme Focus||Artificial intelligence, Blockchain and Big Data|
This report provides:
- Insight into Ping An Insurance’s technology activities.
- Insights of its accelerators, incubators, and other innovation programs, and venture arm.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insight into Ping An’s fintech operations.
- Discover its fintech strategies and innovation initiatives.
- Learn about its product launches, partnerships, and investments.
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Table of Contents
Table of Contents
Digital Transformation Strategy
Accelerators and Innovation Programs
Venture Arm Ping An Ventures
Partnership and Investment Network Map
ICT Budget and Contracts
Frequently Asked Questions
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