Ping An Insurance (Group) Company of China, Ltd. showcased a range of its digital innovations at the Institute of International Finance (IIF). Jessica Tan, Co-CEO of Ping An Group, was a featured speaker at the IIF Digital Interchange: The Global Dialogue on Digital Finance on the acceleration of digital transformation across the Group as a result of the COVID-19 pandemic.
Read More: BillingPlatform Increases Standing in MGI 360 Ratings Report for Agile Monetization Solutions
“COVID has really accelerated digitization even for us, and we have always been on the forefront of digitization,” Jessica said. The Group’s “finance + ecosystem” strategy is to use technology to empower five ecosystems: financial services, health care, smart city services, real estate services and auto services. These ecosystems help the Group extend its reach to internet users beyond its core financial businesses. As of June 30, 2020, Ping An had more than 210 million retail customers and 560 million internet users.
Read More: GlobalFintechSeries Interview with Clara Shih, CEO and Founder at Hearsay Systems
Ping An’s Health Care Innovations at Center of COVID-19 Fight
The health care businesses played a critical role during the pandemic. COVID-19 drove skyrocketing demand for Ping An Good Doctor, the largest mobile internet telemedicine platform in China, with nearly 350 million users as of June 30, 2020. “A lot of consumers with small illnesses don’t want to go to hospitals for fear of further infection … I think (demand for telemedicine) is going to continue accelerating,” Jessica said.
In the first half of 2020, Ping An Good Doctor saw an average of 831,000 medical consultations daily, up 26.7% year-on-year. Ping An Good Doctor provides end-to-end service for patients, including 24/7 online consultations, prescriptions, referrals, appointments, second medical opinions and drug deliveries – supported by the in-house full-time medical team and proprietary artificial intelligence (AI)-based medical system.
Read More: Doxim Announces Omnichannel Loan Origination and Account Opening in Partnership with Mobetize
