Ping An Insurance (Group) Company of China, Ltd. Explores Business Opportunities in China’s Growing Senior Population

China’s Aging Population Presents Business Opportunities in Senior Care Services, Says Ping An Insurance Co-CEO

HONG KONG and SHANGHAI, July 1, 2024 /PRNewswire/ — As China’s senior population continues to grow, the financial services industry is seeing a surge in business opportunities, according to Michael Guo, Co-CEO of Ping An Insurance (Group) Company of China, Ltd. At the Annual Meeting of the New Champions 2024 in Dalian, Mr. Guo highlighted the low awareness among the aging population regarding the importance of financial planning for senior care.

Ping An is taking a proactive approach by developing an “integrated finance + health and senior care” service system to offer professional financial advisory, family doctor, and senior care concierge services. Mr. Guo emphasized that China is facing the challenge of an aging society with a relatively low GDP per capita compared to developed countries, making financial planning for senior care crucial.

The demand for diversified and customized wealth and health services is on the rise as life expectancy increases. Mr. Guo noted that the insurance industry in China is exploring opportunities in wealth management for seniors by designing “finance + senior care” products. However, there is a need for more comprehensive solutions tailored to the individual needs of seniors at different stages of their lives.

Ping An is leading the way with senior care insurance solutions that integrate healthcare and senior care services. The company’s comprehensive service offering includes financial products for insurance protection, wealth appreciation, healthcare services, chronic disease management, and more. With a customer base of 234 million retail customers, Ping An is well-positioned to meet the personalized needs of seniors in China.

Technology plays a crucial role in Ping An’s senior care strategy, with AI-driven concierge services and data applications enhancing the quality and efficiency of home-based senior care. By leveraging its vast healthcare database and technological capabilities, Ping An is at the forefront of empowering the senior care industry in China.

As China’s senior care and healthcare services sector continues to evolve, Ping An remains committed to providing innovative solutions to meet the growing needs of the aging population. With a focus on integrated finance, health, and senior care services, Ping An is poised to become a world-leading provider in this rapidly expanding market.

For more information, please visit www.group.pingan.com and follow Ping An on LinkedIn.