Ping An Insurance (Group) Company of China, Ltd. announced that Ping An has been named the World’s Most Valuable Insurance Brand for the sixth year in a row by leading brand valuation consultancy Brand Finance. Brand Finance issued the Global 500 2022 Report at the Davos World Economic Forum and Ping An ranked 21st among the world’s top 500 most valuable brands and fourth among global financial enterprises. Its brand value was US$54.6 billion and its brand strength was AAA-.
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Brand Finance also issued the Brand Guardianship Index 2022, recognizing leaders who are building business value in a sustainable manner by balancing the needs of all stakeholders – employees, investors and society. Dr. Ma Mingzhe, Chairman of Ping An Group, ranked 70th in the Brand Guardianship Index, the second-highest ranking of the 14 leaders from insurance companies on the list.
Brand Finance is a world-leading valuation consultancy that evaluates thousands of well-known global brands. It has produced the Brand Finance Global 500 report for the last 16 years. Brand Finance’s Brand Strength Index is measured through a balanced scorecard of metrics including marketing investment, stakeholder equity and business performance. Its assessment of stakeholder equity incorporates original market research data from more than 100,000 respondents in more than 35 countries across nearly 30 sectors. This year, the top five global insurance companies are Ping An (China), Allianz (Germany), United Health (US), China Life Insurance (China) and Anthem (US).
Despite the complex business environment and market challenges in 2021, Ping An made significant progress its integrated financial business by executing its “finance + technology” and “finance + ecosystem” strategy under the brand philosophy of “Expertise makes life easier”. The Company also provided customers with “worry-free, time-saving, and money-saving” integrated financial services. As of September 30, 2021, Ping An’s retail customers increased 3.1% year-to-date to more than 225 million. Of the total retail customers, 39.0% or 87.74 million, held multiple contracts with different subsidiaries for integrated financial services.
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The Group offers a range of innovative products and services. Being customer-centric, Ping An Life upgraded its comprehensive “product + service” system. In 2021, it launched the innovative Ping An Enjoy RUN plan, which provides health management for prediction, prevention and early warning of diseases. More than 20 million customers enjoyed the “one-stop shop” of insurance + healthcare + medical service. Ping An Property & Casualty continued to optimize the claim settlement experience, with its artificial intelligence (AI)-driven loss assessment and one-click claim settlement, which can achieve settlements in as little as 30 seconds. It provides more than 80 auto services, such as annual inspections, car repair appointments, and road rescue. The Ping An Auto Owner is the largest car service app in China, with more than 140 million registered users and 92 million vehicles. Ping An Bank continues to enhance its social capabilities with “portable banking” services for customers and upgrade the “AI + T + Offline” (AI bank + telebank + offline bank) social customer service model. The resolution rate of complex customer cases has increased to 83% month by month, and the time for closing cases has decreased by 51% year-on-year. In 2021, the number of clients served by Ping An Securities exceeded 20 million, ranking first in the industry for five consecutive years.
Ping An is supporting China’s target to hit peak emissions by 2030 and carbon neutrality by 2060 through green insurance, investment, credit, green operation, and public welfare. The company engages ESG concepts into future plans and is targeting to achieve an investment and credit scale of RMB400 billion and green insurance premium of RMB250 billion by 2025, and achieve operational carbon neutrality in 2030. As of the third quarter of 2021, Ping An achieved green investment of RMB208.89 billion, green credit of RMB53.28 billion, and green insurance of RMB25.11 billion. The green projects included the Baihetan Dam, Shenzhen compulsory environmental pollution liability insurance, Zhuhai catastrophe index insurance and the Natural Disaster Early Warning Mechanism.
Ping An will continue to follow national strategy, realize the people’s aspiration for a better life, and deepen its people-centric “finance + medical ecosystem” strategy while creating heartwarming customer-centric “finance + healthcare” services. Ping An supports the Chinese dream of national prosperity, national rejuvenation, people’s happiness and social harmony.
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