Ping An has successfully expanded into the Tech Sector
Ping An's rapid growth is largely attributed to smart business decisions that saw Ping An expand in the right directions. The insurance giant is also known to be an incubator for new fintech companies and has also consistently invested in their long-term digital capabilities. As experts in McKinsey and Company explain:
"In the past five years, Ping An has accumulated nearly 500 million online users, created 11 new digital platforms across industries, and increased its number of insurance agents to 1.4 million, all armed with the company's digital tools and apps. Ping An's commitment to investing in emerging technologies has been a particularly important driver of this expansion: it now directs 1 percent of its annual revenuearound $1 billiontoward tech investment."
