Tech driving risk mitigation in a dynamic market: Ping An P&C

China’s property and casualty insurance sector continues to demonstrate resilience, growing 5.1% year-on-year in H1 2025. A stable macroeconomic environment and government-led reforms prioritising high-quality development provide a robust foundation for innovation. As the country’s second-largest P&C insurer, Ping An P&C is at the forefront of technological advancement, risk mitigation and global collaboration.

Key points:
AI speeds claims and underwriting
Tech strengthens market resilience
Linking China to global capital 

Technology as risk mitigation infrastructure

Central to Ping An P&C’s strategy is risk mitigation. At its core is the digital risk system (EagleX), a comprehensive platform integrating optical and radar satellite monitoring, real-time catastrophe management and AI-driven analytics. 

“Our goal is to create end-to-end risk solutions that transcend traditional boundaries,” explains chairman and chief executive officer Long Quan. The system’s capabilities were evident during recent natural disasters such as tropical storm Wutip, where its satellite network enabled 5.7 million proactive risk mitigation actions and covered more than 3.1 million customers across auto insurance, agriculture insurance and property insurance.

“Connecting domestic innovation with global capital requires infrastructure and trust.”

Beyond catastrophe response, the company has embedded AI solutions into its operational DNA. Machine learning algorithms now streamline underwriting workflows while simultaneously enabling personalised risk mitigation advice – a service delivered in real time through Ping An’s mobile app ecosystem, which boasts more than 200 million users. 

This dual application of AI not only enhances customer engagement through proactive risk management, but also significantly improves claims processing efficiency and speed. These advancements allow Ping An P&C to maintain competitive discipline while addressing emerging risks.

Navigating global market dynamics

While the softening of the global reinsurance market has been the topic of focus in recent times, Ping An P&C views technological empowerment as the key long-term differentiator. “AI, proprietary data, and dynamic modeling aren’t just tools – they’re the foundation for sustainable pricing through different cycles,” notes Mr. Long.

This perspective informs the company’s approach to climate change and geopolitical uncertainties. By embedding predictive analytics into treaty design and leveraging big data for emerging risk assessment, Ping An P&C aims to maintain underwriting discipline while supporting market stability.

AI, proprietary data, and dynamic modeling are the foundation for sustainable pricing through different cycles.

Bridging China and global markets

China’s establishment of the Shanghai International Reinsurance Exchange marks a key step in advancing the country's reinsurance market. Ping An P&C has actively contributed to this initiative, supporting Shanghai’s role as an international reinsurance hub. “Connecting domestic innovation with global capital requires infrastructure and trust,” says Mr. Long, highlighting the company’s participation in innovation labs with key reinsurance partners.

As China increasingly lead the world in sectors such as renewable energy, electric vehicles and AI, this open and collaborative approach allows Ping An to address both local opportunities and tackle global challenges. The company's digital platforms further enhance transparency and efficiency, aligning with international standards while meeting local regulatory requirements.

Looking ahead

As China's insurance market evolves, Ping An P&C remains committed to its focus on risk mitigation, technological innovation and global collaboration. “Our strength lies in combining domestic innovation and global collaboration,” concludes Mr. Long. By maintaining this strategic balance, the company continues to build bridges between China’s growth trajectory and the international reinsurance community.

Long Quan is chairman and chief executive officer of Ping An P&C.

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