Since the outbreak of the coronavirus, digitalisation has become a necessity for several insurers in China. However, major Chinese insurance giant Ping An seems to have realised this much earlier than others as it was an early adopter of shifting operations online.
As early as last year, Ping An P&C had achieved almost full online operations with 99.3% of its entire client relations, sales, underwriting and claims done online.
According to Ping An P&C Insurance deputy general manager Zhu Yougang who was speaking at the 21 Cloud Forum held on 25 May, the pandemic has brought a major challenge for the insurance industry.
Despite that, his firm with its online products such as the Ping An HCZ app, mini programmes and WeChat platform have played an active role in auto insurance sales and claims settlement.
“The pandemic has accelerated the online processes of the entire industry including online insurers. After going online, knowing how to digitise customer needs, user experience, team management, risk control and others becomes key,” he said.
In regards to changes that will occur in the future claims model, Mr Zhu believes that there are three aspects to look at:
How will the customer experience change?
How to improve the efficiency of claims settlement?
Stable and uninterrupted risk management and control