Ping An Achieves Global Leadership in Fintech and Healthcare Patents

In a remarkable showcase of innovation, Ping An Insurance (Group) Company of China, Ltd. has secured the top position in global patent holdings for both fintech and healthcare sectors, as highlighted in two recent reports by the Intellectual Property Publishing House. This significant accomplishment is outlined in the "Fintech Industry 2024 Patent Analysis White Paper" and the "Healthcare Industry 2024 Patent Analysis White Paper," which featured the Global Patentee Top 10 lists from 2019 to 2024.

With a staggering 8,582 patents attributed to its fintech operations — representing over 2% of the total patents in the industry — Ping An solidifies its position as an industry leader. Furthermore, the company boasts an impressive 4,176 patents in healthcare, again surpassing both domestic and international competitors. These figures reflect Ping An's dedication to advancing technological innovation and application, particularly in high-stakes areas where technology plays a crucial role in transforming traditional business operations.

Demonstrating Exceptional Competitiveness

The reports produced by the Intellectual Property Publishing House, an entity under the China National Intellectual Property Administration, reveal Ping An's dominance in multiple core business areas. Specifically, in risk prevention and control, the company holds 1,078 patents — exceeding its nearest competitor by over one hundred. In terms of customer service automation and insurance claims efficiency, Ping An's patent volume is double that of the second-largest competitor, clearly showcasing its innovative capabilities within the fintech sector.

In healthcare, the figures are equally impressive. Not only does Ping An lead with 4,176 patents, but it also ranks highest in niche technology areas such as medical image processing and smart health consultations. The reports emphasize the burgeoning role that artificial intelligence (AI) technology plays in the healthcare industry and highlight Ping An's extensive patent portfolio, particularly in AI, blockchain, and big data applications that far exceed those of rivals.

Expanding Scenario and Application Innovation

As indicated in the released white papers, both global fintech and health tech industries have transitioned into a new phase characterized by a gradual confluence of cutting-edge technologies with business models. In response, Ping An is not only committed to innovation in product scenarios but is also significantly expanding application innovations across platforms that utilize AI, big data analytics, blockchain, and cloud computing.

For several years, Ping An has pioneered the integration of finance and healthcare through a well-coordinated digital transformation strategy. The company has adopted a future-oriented vision centered on AI-enhanced operational quality, ensuring that it remains at the forefront of digital advancements in financial services. With five leading laboratories and nine prominent databases that span across multiple fields including finance, health, and senior care, Ping An is systemically developing robust technology capabilities destined for use in financial advising and senior care concierge services.

By the end of September 2024, Ping An employed over 21,000 technology specialists and more than 3,000 research scientists, evidencing its commitment to innovation. The total number of patent applications filed stands impressively at 53,521.

A Customer-Centric Approach

Ping An's customer-centric approach has led to continuous enhancements of its financial and health services, aimed at providing smarter, personalized options that save customers time and money. In the first three quarters of 2024 alone, the company’s AI service representatives engaged in over 1.34 billion customer interactions, covering more than 80% of overall customer service inquiries.

Further illustrating its commitment to operational efficiency, Ping An has developed AI-powered vehicle damage assessment technologies, which reduce assessment durations from several hours to just minutes, achieving an accuracy rate exceeding 95%. In 2024, the company enhanced its claim processing procedures with a 1-1-1 Superfast Claim service, which streamlined reporting, uploading, and validation, leading to an impressive rate of policy underwriting within mere seconds and a claim processing average of just 7.4 minutes.

In the healthcare domain, Ping An Health's AI-assisted system has achieved over a 99% accuracy rate in triage decisions, ensuring that patients are efficiently directed to the right medical departments with a diagnosis accuracy of 95%.

As we enter a transformative era underpinned by advancements in AI and technology, Ping An remains committed to promoting the seamless integration of finance and tech. The company’s brand promise — "Expertise Makes Life Easier"— continues to resonate as it serves its 240 million retail customers across China and beyond.

About Ping An Group

Established as one of the largest financial service providers globally, Ping An Insurance (Group) Company of China, Ltd. (HKEx 2318 / 82318; SSE 601318) is dedicated to becoming the world’s leading provider of integrated financial, healthcare, and elder care services. The company’s robust, technology-focused strategy aims to deliver professional financial advisory, family doctor, and senior care concierge services to a broad customer base, all while driving innovation to enhance service quality and efficiency. According to the Forbes Global 2000 and the Fortune Global 500 lists for 2024, Ping An ranked 29th and 53rd respectively, highlighting its prominence in the financial landscape. For more details, visit www.group.pingan.com and follow Ping An on LinkedIn.