Ping An Insurance (Group) Company of China, Ltd. has secured the top spot in global patent rankings for both the fintech and healthcare sectors, according to new reports from the Intellectual Property Publishing House. The reports, titled Fintech Industry 2024 Patent Analysis White Paper and Healthcare Industry 2024 Patent Analysis White Paper, highlight Ping An’s dominant position in these industries, covering patent data from 2019 to 2024.
Fintech Patent Leadership
In the fintech sector, Ping An stands out with 8,582 patents, representing over 2% of all patents in the industry. The company has established leadership across several critical areas, including risk prevention, smart customer service, insurance claims, and digital operations. Ping An’s achievements in risk prevention and control are particularly notable, with 1,078 patents, surpassing its closest competitor by over a hundred patents. Additionally, in areas like intelligent customer service and insurance claims, Ping An’s patent holdings are more than double those of its nearest rival. According to the fintech white paper, Ping An’s strong patent portfolio underscores its outstanding innovation capabilities and competitiveness in the industry.
Healthcare Patent Dominance
Ping An also leads the global healthcare patent race, with 4,176 patents. It is particularly strong in specialized fields such as medical image processing, healthcare services, and smart consultation. The healthcare white paper points to artificial intelligence (AI) as a key driver in the sector’s ongoing innovation, noting that Ping An holds the highest number of patents in AI, blockchain, and big data within the healthcare industry, significantly outpacing its competitors.
Expanding Technological Innovations
Both white papers highlight a broader trend in the global fintech and healthtech industries, characterized by the deep integration of core technologies like AI, blockchain, and big data with business applications. Ping An is at the forefront of this transformation, focusing heavily on scenario innovation—where technology intersects with practical applications in finance and healthcare. The company has made substantial investments in AI-driven solutions, cloud computing, and digital transformation, enhancing service quality and operational efficiency across its services.
Ping An’s deep involvement in integrated finance and healthcare is supported by five industry-leading laboratories and nine major databases, covering finance, healthcare, senior care, and more. With a workforce of over 21,000 technology developers and 3,000 scientists, Ping An has filed over 53,500 patent applications by September 2024.
Commitment to Customer-Centric Solutions
Ping An continues to innovate with a customer-first approach, ensuring its services are smarter, more personalized, and efficient. In 2024, the company’s AI service representatives engaged with customers approximately 1.34 billion times, handling more than 80% of total customer service interactions. Ping An has also made significant strides in auto insurance, with its AI-based vehicle damage assessment technology reducing assessment times from hours to minutes while maintaining an accuracy rate of over 95%. Additionally, Ping An Life’s upgraded 1-1-1 Superfast Claim service has drastically reduced claim processing times, with 93% of policies underwritten in seconds and average claim processing down to just 7.4 minutes.
In healthcare, Ping An Health’s AI-assisted consultation system boasts a diagnostic accuracy rate of over 99% in triage and 95% in diagnosis. These advancements contribute to the company’s mission of enhancing customer experience while ensuring faster and more reliable services.
Looking Ahead
As AI continues to reshape the landscape of finance and healthcare, Ping An is committed to further integrating technology with its services. The company aims to provide its 240 million retail customers with enhanced, technology-driven solutions under the brand promise, “Expertise Makes Life Easier.”
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. is one of the world’s largest financial services organizations, listed on both the Hong Kong and Shanghai stock exchanges. As of September 2024, the group manages over RMB 12 trillion in total assets. With its “integrated finance + health and senior care” strategy, Ping An serves its vast customer base with financial advisory, family doctor, and senior care concierge services. The company is ranked 29th in the 2024 Forbes Global 2000 and 53rd in the Fortune Global 500 list.
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