It has a three-pronged strategy for development.
Ping An Insurance Group has unveiled its healthcare ecosystem strategy and healthtech achievements at an Investor Day in Shenzhen, the company said in a press release.
Ping An shared that it is developing a closed-loop healthcare ecosystem that includes government, patients, medical service providers, social and commercial health insurers and technology to create a new growth engine for the group.
The ecosystem features a three-pronged strategy for Ping An’s development, the first of which is to expand user traffic, managing organizations for the insurers, and empowering service providers to maximize value.
Through the ecosystem, Ping An also aims to pursue vertical integration through serving the government, harnessing the resources of hospitals, doctors, and pharmaceutical companies, and empowering members of the ecosystem with technology to create competitive barriers.
Finally, the group plans to create synergies with their core financial businesses in order to acquire customers, enhance customer stickiness, and increase average value per customer.
As the ageing population is putting a pressure on the ecosystem, Ping An said that it has also accelerated its development at the frontier of health care and revised its health care ecosystem strategy in response to the national strategy ‘Healthy China 2030’. The company already allocates 1% of its annual operating income to research and development of innovative technologies, and a large portion is invested in healthtech.
The company recently announced the launch of Ping An Doctor Home as part of their Ping An Good Doctor initiative for smooth and hassle-free doctor-patient communication.
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