Ping An Technology targets 50% of sales from external business
China-based Ping An Technology, a subsidiary of Ping An Insurance, is hoping half of its business can be represented by external companies making use of its data and technology offerings. The subsidiary was established as an in-house technology provider in 2008 and has since developed services such as facial recognition technology, which the firm uses for offerings like its wealth management and online-lending platform Lufax. Roughly a quarter of its current business for facial recognition technology is derived from external clients.
In May, Ping An Insurance announced the appointment of Jonathan Larsen, former head of retail banking and mortgages at Citigroup, as its chief innovation officer. Photo: Jonathan Wong