Company profile

Future of Ping An Insurance

#
Rank
621
| Quantumrun Global 1000

Ping An Insurance recognized also as Ping An of China, complete name Ping An Insurance (Group) Company of China, Ltd. is a holding company whose subsidiaries principally deal with financial banking, services, and insurance. The company was established in 1988 and headquartered in Shenzhen. Ping An literally means "safe and well".

Home Country:
Sector:
Industry:
Insurance - Life, Health (stock)
Founded:
1988
Global employee count:
318588
Domestic employee count:
Number of domestic locations:

Financial Health

3y average revenue:
$611500000000 CNY
3y average expenses:
$534000000000 CNY
Funds in reserve:
$439327000000 CNY

Asset Performance

  1. Product/Service/Dept. name
    Life insurance
    Product/Service revenue
    328895000000
  2. Product/Service/Dept. name
    Property and casualty insurance
    Product/Service revenue
    152723000000
  3. Product/Service/Dept. name
    Banking
    Product/Service revenue
    165723000000

Innovation assets and Pipeline

Global brand rank:
100

All company data collected from its 2015 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.

*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.

*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks.

*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.

*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.

COMPANY’S FUTURE PROSPECTS

Company Headlines