#China #healthcare #Hong Kong #Fintech #Ping An

Ping An Leads the Global Patent Rankings

In an impressive feat for the insurance and financial services sector, Ping An Insurance (Group) Company of China has topped the global patent rankings in both fintech and healthcare. According to recent reports issued by the Intellectual Property Publishing House, which operates under the auspices of the China National Intellectual Property Administration, Ping An has secured its position as a leader in innovative technologies by amassing a significant collection of patents.

Dominance in Fintech Patents

The reports reveal that Ping An holds 8,582 patents specifically in the fintech sector, representing over 2% of the total patents within that industry. These patents span core business areas such as risk prevention and control, intelligent customer service, insurance claims, and digital operations. For instance, in the realm of risk management, Ping An leads its closest competitor by over 100 patents. In the fields of customer service and claims processing, Ping An boasts double the patents than those of its nearest rival, asserting a clear competitive edge in the fintech landscape. The Fintech Industry 2024 Patent Analysis White Paper acknowledged Ping An for its remarkable capabilities in innovation and patent breadth, affirming its standing as a formidable player in the market.

Leadership in Healthcare Innovations

Similarly impressive are Ping An's achievements in the healthcare sector, where it holds 4,176 patents, again surpassing both domestic and international competitors. Notably, the company leads the field in niche technologies such as medical image processing, smart consultations, and elder care services. The Healthcare Industry 2024 Patent Analysis White Paper highlights the importance of AI technologies, identifying Ping An's stronghold in patents related to AI, blockchain, and big data, indicating a proactive approach to enhancing healthcare services through technological advancement.

Expanding Service Quality and Efficiency

According to the new analyses, the global sectors of fintech and health tech are entering a transformative phase characterized by the deeper integration of core technologies into practical business applications. Ping An is at the forefront of innovating such integrations, predominantly through its applications of AI, blockchain, big data analytics, and cloud computing.

Having been heavily involved in the dual spheres of integrated finance and healthcare for several years, Ping An has implemented a comprehensive digital transformation strategy. This strategy aims to harness AI-driven methodologies to enhance operational quality, governance, and risk management while developing competitive advantages. The company has established five specialized laboratories and nine extensive databases, encapsulating various fields including finance and healthcare, and further building capabilities in personalized financial advice, family doctor services, and elder care.

As of the close of September 2024, Ping An employed over 21,000 technology professionals and 3,000 scientists, marking its commitment to innovation with an impressive 53,521 patent applications filed to date.

Customer-Centric Innovations

With a philosophy that prioritizes customer experience, Ping An continuously adapts its services to offer smarter, personalized, and more efficient solutions. In the first three-quarters of 2024 alone, its AI service representatives managed approximately 1.34 billion interactions, effectively handling over 80% of total customer queries. In a bid to expedite insurance claims processes, Ping An has introduced AI-driven image assessment technologies for auto claims, significantly reducing evaluation times from hours to minutes, with impressive accuracy rates above 95%.

Moreover, in 2024, Ping An Life's newly revamped 1-1-1 Superfast Claim service has streamlined the claims process, allowing 93% of insurance policies to be underwritten almost instantaneously, achieving an average claims processing duration of just 7.4 minutes. In the healthcare domain, Ping An Health's AI-assisted consultation system showcases superior triage accuracy of over 99%, guiding patients efficiently, alongside a 95% diagnosis accuracy rate.

Looking Ahead

As businesses navigate the evolving landscape of AI transformation, Ping An reaffirms its commitment to fostering the convergence of finance and technology. The company pledges to continue delivering high-quality services to its 240 million retail customers, embodying its brand promise of **