Shanghai, China – At the Ping An Shanghai Inclusive Finance Summit held this week, the financial giant launched upgraded versions of its flagship products—”Sci-Tech Innovation Insurance” and “Shanghai Business Insurance”—marking a strategic push to align with China’s “Five Major Articles” policy while addressing critical gaps in SME and tech-sector financing.
Key Innovations
Tech-Focused Protection
The upgraded Sci-Tech Innovation Insurance now covers cyber risks, patent disputes, and R&D cost protection, filling a critical gap for tech SMEs.
Ping An Property & Casualty donated policies to six small tech firms on-site, underscoring its commitment to grassroots innovation.
SME-Centric Solutions
Shanghai Business Insurance introduced dual versions (for brick-and-mortar and online businesses), featuring:
“Front shop, back kitchen” coverage for catering businesses.
Value-added services like free first-aid kits and gut health tests.
Ping An Bank’s new “4+1” loan system (tech loans, guarantees, credit lines, mortgages, and scenario-based financing) aims to tackle SME financing bottlenecks. On-site, six firms received 751 million yuan in credit approvals.
Impact and Reach
Shanghai Business Insurance has provided 11 billion yuan in coverage to 10,000+ local SMEs since its 2024 launch.
Ping An Bank’s Shanghai branch issued 5 billion yuan in inclusive loans Jan-Apr 2025 (up 48% YoY), with tech loans growing 24%. Approval times for tech loans now take as little as 30 minutes.
Interest rates on new loans dropped 50 basis points, directly addressing “expensive financing” pain points.
Health and Elderly Care Integration
Ping An is bridging finance and healthcare under China’s Healthy China initiative:
“Shanghai Hui Bao” medical insurance paid out 40 million yuan over four years, covering beneficiaries aged 3 months to 102 years.
“Brain Health Screening” programs have created early-disease profiles for 50,000+ elderly residents.
Child Myopia Prevention services now partner with 62 Shanghai eye hospitals, targeting ages 3–18.
Digital and Age-Friendly Upgrades
The Ping An Good Car Owner app added voice-enabled policies and large-print interfaces, serving 162,000 seniors in Shanghai.
A national-first digital platform for SME insurance, co-developed with regulators, streamlines claims and approvals.
Strategic Vision
“These upgrades reflect Ping An’s dual focus on comprehensive finance + healthcare,” said a Shanghai branch executive. “By leveraging big data and cross-sector synergies, we’re turning policy mandates into tangible tools for SMEs and vulnerable groups.”
Looking Ahead: Ping An plans further integration of green finance and digital ecosystems in 2025, with pilot programs linking carbon credits to insurance premiums.
By the Numbers
92,000 SMEs served by Ping An Rongyi Shanghai (end-April 2025).
47.7 billion yuan in cumulative SME loans facilitated.
85% YoY growth in corporate inclusive loans.
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