Ping'an Guo Xiaotao: "Integrated financial + medical care for the elderly" strategy drives optimization of "three lows and one high" and "three differences"

On the afternoon of May 13, Ping An of China held its 2024 annual shareholder meeting. During the meeting, a shareholder asked about the profit model and value of Ping An's "integrated finance + medical eldercare" strategy. In response, the CEO of Ping An, Guo Xiaotao, mentioned that the financial industry has already passed the pioneering stage and high-speed development stage, and has entered the third phase of stable development where industry interest spreads continue to shrink and profitability is generally under pressure. In this context, Ping An's "integrated finance + medical eldercare" dual-wheel driven strategy accurately meets the needs of an aging society and customers with high-quality medical needs, continuously optimizing customer experience, improving operational efficiency and profitability. This not only provides millions of customers with a worry-free, time-saving, and cost-effective medical eldercare experience, but also enables the company to achieve long-term and stable development. In his view, integrating finance + medical eldercare will optimize the company's profit model from two aspects. On one hand, the "one customer, multiple accounts, multiple products, one-stop service" integrated financial model can achieve "low customer acquisition costs, low operating costs, low risk costs, high customer retention" efficiency. On the other hand, the layout of medical eldercare will bring continuous optimization of profit margins, mortality margins, and fee margins of life insurance and other businesses, enhancing the profitability of insurance business. As China has entered the aging era, providing medical and eldercare services to customers can reduce illness, improve health, and increase longevity, which in turn reduces payouts and lowers operating costs, enabling the company to maintain long-term stable profitability in a competitive market environment.