Ping An Unveils AI-Driven 'EagleX (Global Version)' for Climate Risk Management
In a significant move to enhance global disaster risk management, Ping An Insurance (Group) Company of China, Ltd. has launched the 'EagleX (Global Version)', a comprehensive platform designed to assess and mitigate risks associated with climate change. With extreme weather occurrences on the rise, the new service aims to equip users worldwide with crucial disaster assessments, alerts, and claims services. This initiative not only underscores Ping An's commitment to innovation but also its responsiveness to the pressing challenges posed by global climate change.
The original 'EagleX' platform made its debut in 2017, utilizing advanced technologies such as big data, meteorological disaster models, satellite remote sensing, and machine learning. This foundation has allowed Ping An to provide timely and effective disaster response tools to businesses and individuals alike. The platform boasts access to over 2 trillion data points related to geography, natural disasters, meteorology, and insurance, enabling it to deliver a comprehensive risk assessment for nine types of natural disasters including extreme rainfall, floods, heatwaves, droughts, and tropical cyclones.
The newly launched global version of 'EagleX' introduces key features that enhance its functionality:
1. Natural Disaster Risk Maps: Users can generate six types of digital risk maps covering earthquakes, extreme rainfall, and typhoons, which are tailored to specific geographic locations.
2. Disaster Alert System: The platform utilizes extensive meteorological data for real-time monitoring and forecasting, providing users with timely alerts for various significant weather events.
3. Satellite Monitoring: By integrating multi-source remote sensing data, the platform enables effective remote investigations and claims verification across different scenarios.
Ping An's innovative platform has already demonstrated its efficacy in 2024 alone, by identifying 3,619 high-risk cases for clients and issuing a staggering 10.5 billion disaster alerts across property, auto, and agricultural insurance sectors. Such alerts covered an impressive 67 million customers, significantly mitigating potential losses due to disasters. A notable instance was during Typhoon Yagi in Hainan province, where the platform provided critical notifications to residents and vehicle owners approximately 72 hours prior to the event, resulting in over 24.3 million warnings issued. Notably, 'EagleX' also played a pivotal role in protecting a major hydropower construction project in Pakistan from a potentially disastrous landslide by issuing alerts when mountain deformation was detected.
Beyond its technological capabilities, 'EagleX (Global Version)' stands as China's first risk mitigation service platform developed independently by an insurance company for global use. With its multidimensional approach to risk management, it seeks to empower governments, businesses, and individuals around the world by providing fully integrated disaster identification and management services.
Looking forward, Ping An aims to continue speaking innovation through its technological strengths, further optimizing and expanding the features of the 'EagleX' platform. By delivering precise and efficient natural disaster risk management services, Ping An strives to enhance urban safety, bolster corporate stability, and foster sustainable social development across the globe. This launch not only addresses present needs but also sets a benchmark in the insurance industry's response to global climate challenges.
Background of 'EagleX'
The original 'EagleX' platform made its debut in 2017, utilizing advanced technologies such as big data, meteorological disaster models, satellite remote sensing, and machine learning. This foundation has allowed Ping An to provide timely and effective disaster response tools to businesses and individuals alike. The platform boasts access to over 2 trillion data points related to geography, natural disasters, meteorology, and insurance, enabling it to deliver a comprehensive risk assessment for nine types of natural disasters including extreme rainfall, floods, heatwaves, droughts, and tropical cyclones.
Features of the Global Version
The newly launched global version of 'EagleX' introduces key features that enhance its functionality:
1. Natural Disaster Risk Maps: Users can generate six types of digital risk maps covering earthquakes, extreme rainfall, and typhoons, which are tailored to specific geographic locations.
2. Disaster Alert System: The platform utilizes extensive meteorological data for real-time monitoring and forecasting, providing users with timely alerts for various significant weather events.
3. Satellite Monitoring: By integrating multi-source remote sensing data, the platform enables effective remote investigations and claims verification across different scenarios.
Impact and Adoption
Ping An's innovative platform has already demonstrated its efficacy in 2024 alone, by identifying 3,619 high-risk cases for clients and issuing a staggering 10.5 billion disaster alerts across property, auto, and agricultural insurance sectors. Such alerts covered an impressive 67 million customers, significantly mitigating potential losses due to disasters. A notable instance was during Typhoon Yagi in Hainan province, where the platform provided critical notifications to residents and vehicle owners approximately 72 hours prior to the event, resulting in over 24.3 million warnings issued. Notably, 'EagleX' also played a pivotal role in protecting a major hydropower construction project in Pakistan from a potentially disastrous landslide by issuing alerts when mountain deformation was detected.
Beyond its technological capabilities, 'EagleX (Global Version)' stands as China's first risk mitigation service platform developed independently by an insurance company for global use. With its multidimensional approach to risk management, it seeks to empower governments, businesses, and individuals around the world by providing fully integrated disaster identification and management services.
Conclusion
Looking forward, Ping An aims to continue speaking innovation through its technological strengths, further optimizing and expanding the features of the 'EagleX' platform. By delivering precise and efficient natural disaster risk management services, Ping An strives to enhance urban safety, bolster corporate stability, and foster sustainable social development across the globe. This launch not only addresses present needs but also sets a benchmark in the insurance industry's response to global climate challenges.
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