Author | Cat brother
Source | Big Cat Finance Pro
Recently, two Chinese brand rankings have attracted much attention.
On September 3, InterBrand released the 2024 Best Brands in China list.
In the top 5 brands in terms of brand value, Internet brands Tencent and Alibaba are among the top two, followed by three financial institutions, China Construction Bank, Ping An of China, and Industrial and Commercial Bank of China.
Interbrand affirmed the strong resilience and ability of Chinese brands to go through the cycle, "In the face of the heavy pressure brought by multiple downward cycles such as slowing economic growth, intensified market competition, and price wars, Chinese brands are still actively exploring growth paths against the trend."
In 2024, the total value of the brands on the list will rebound slightly, reaching 3,371.26 billion yuan.
It is worth noting that Ping An of China has a brand value of 168.121 billion yuan, beating the "Universe Bank" Industrial and Commercial Bank of China. At the same time, as a top-level financial institution, this is the 11th consecutive year that Ping An has ranked first in China's insurance industry.
This is not the first time Ping An has dominated the list.
On September 10, BrandZ released the list of the top 100 most valuable Chinese brands in 2024, and Ping An of China rose two places in the ranking, ranking in the top 10 with a brand value of 20.514 billion US dollars, and won the first brand in the domestic insurance industry for ten consecutive years.
Whether it is the Chinese list or the global list, "No. 1" is the best annotation of the gold content of Ping An's brand.
As a valuable intangible asset, a brand can be quantified, after all, brand value can ultimately be transformed into real economic value. The resilient growth of brand value is not only an affirmation of Ping An's brand, but also a sign of Ping An's global influence and competitiveness.
From the perspective of development, brand building is the key to the sustainable development of enterprises. Consumers and customers are the cornerstone of Ping An's status, and it is with the support and loyalty of consumers that Ping An can continue to maximize its value.
Brand building is the key to sustainable business development. Consumers and customers are the cornerstone of Ping An's status, and it is with the support and loyalty of consumers that Ping An can continue to maximize its value.
Ping An stated that it will firmly follow the path of high-quality development, continue to implement the 16-character business policy of "focusing on the main business, increasing revenue and reducing expenditure, optimizing structure, and improving quality and efficiency", deepen the implementation of the two-wheel parallel and technology-driven strategy of "comprehensive finance + medical care for the elderly", and take the "three provinces" project as the business guide, service coordinate and long-term commitment, and contribute to the Chinese modernization and the great rejuvenation of the Chinese nation in an all-round way.
Service concept: worry-free, time-saving, and money-saving
Not long ago, Ping An of China just handed over a brilliant business answer sheet. One of the most striking figures is Ping An's customer growth, which had 236 million customers as of the end of June 2024.
In other words, for every 6 Chinese, there is a safe customer.
The Central Financial Work Conference emphasized that adhering to the people-centered value orientation is a practical requirement for high-quality financial development. This is the constant guideline of financial development, and it is also an unswerving political position, and only by relying on the people can financial development gain inexhaustible momentum.
Since its establishment, Ping An has always adhered to the value of finance for the people, and has always been committed to meeting the needs of the people, even in the face of diversified and complex needs.
In this regard, Ma Mingzhe, the helmsman of Ping An, has another requirement: Ping An people should become the most professional financial advisors, family doctors, and pension housekeepers around customers, so that every customer can enjoy the ultimate experience of "three provinces" in the service of "comprehensive finance + medical pension".
What are the "Three Provinces"?
Ma Mingzhe has a vivid explanation of this: Ping An wants customers to buy a house, buy a car, buy insurance, or investment, savings, credit cards, or health, medical care and pension, comprehensive financial and medical care services can be one-stop solution. Ping An wants customers to enjoy a life experience of "worry-free, time-saving, and money-saving" because of professional services.
In short, save worry, time, and money. It's a simple 6 words, but how to practice it, there is a lot of knowledge in it.
Claims are a core concern for insurance customers. According to a set of data from the State Administration of Financial Regulation, in 2023, China's insurance industry will pay 1.89 trillion yuan, with a 98% odds, and the average time limit for claims is 2 days.
With such a high odds of getting a claim, the customer's expectation has long been upgraded from "whether the claim can be settled" to "whether the claim can be made quickly", and the demand for "fast" is not only an appeal for economic compensation, but a warmth from the institution. As an industry pioneer, Ping An quickly gained insight into the needs of customers and used technology to upgrade the claims process, from "flash claims" to "intelligent pre-claims" to "111 quick claims".
With "one-sentence reporting, one-click upload, and one-minute review", Ping An's intelligent claims service system has been gradually improved, opening a new era of fast claims.
Ping An Life's "flash claim" has an average time limit of 7.4 minutes, and the fastest time for Ping An Life's North Cent is 1.6 minutes, and in the first half of the year, Ping An Life's fastest claim settlement record is 10 seconds, which can be called the speed of insurance claims in China.
Ping An has also built a medical and elderly care ecosystem, and as the flagship brands in the circle, "family doctors" and "elderly care butlers" are the core hubs, providing customers with professional, comprehensive, high-quality and one-stop medical and health care management services.
"Ping An Family Medicine" is one of Ping An Health's trump card services, extending the healthy life span and improving the quality of life for customers in an all-round way, and after the new upgrade, it has created a "11312" one-stop active health management service system.
In terms of home-based elderly care, Ping An has built a "three-in-one" elderly care housekeeper and come up with a complete set of "worry-free, time-saving, and money-saving" elderly care solutions to help the elderly provide one-stop services in 10 major scenarios: medical care, food, housing, transportation, finance, health, nursing, entertainment, nursing, and security.
As Guo Xiaotao, Co-CEO of Ping An Group, said, Ping An is guided by customer needs, bringing customers more worry-free, time-saving and cost-saving medical and health service experience, helping to promote the development of "Internet + Family Doctors" to higher quality, systematization and standardization, and contributing to a healthy China.
The concept of "three provinces" vividly interprets "finance for the people" and customer-centric service, so customers will take the initiative to choose Ping An's services and complete the transformation of Ping An's brand from cognition, recognition to loyalty.
Development strategy: comprehensive finance + medical care and pension, serving the prosperity of the country and the strength of the people
Wind and rain, spring and autumn.
In the rapid development stage of China's economy, Ping An is a witness and a participant, and financial institutions, including Ping An, have become a booster of economic development.
Although it originated from insurance services, Ping An's services are not limited to insurance. As early as the early 90s of the last century, Ping An realized that in the rapid development of the economic environment, people must have more diversified financial needs, so how to meet these financial needs is Ping An's way forward.
The solution given by Ma Mingzhe is to be a "financial supermarket". At the turn of the old and new centuries, Ping An firmly promoted the layout of all licenses, and the financial licenses of insurance, finance, securities, funds, trusts and other financial licenses were gathered, the barriers between financial services were broken, and a platform-based, one-stop comprehensive finance was formed.
Empowered by technology, Ping An has built a strong online + offline channel network, and the technology ecosystem has created synergies, making Ping An unique in the field of integrated finance.
In the new historical process, is there still room for the financial industry to continue to expand in depth? Yes.
Our neighbors Japan and Korea are already the most aging countries, and we are gradually "accelerating aging", data show that in 2025, the elderly population over 60 years old will exceed 300 million, in 2033, more than 400 million, in 2035, we will also enter a severe aging.
This is a crossroads in history. Ageing is an important social issue, but it is also a historical opportunity from which a huge market can be extended.
At present, the scale of the mainland's silver economy, which is about 7 trillion yuan, accounting for 6% of GDP, will reach 30 trillion yuan by 2035, accounting for 10% of GDP.
From the depth of the financial industry to medical care and pension, it is Ping An's way to break the situation. From the perspective of society, the development of medical care for the elderly is in line with the requirements of the times and provides a safe solution for the aging society; From an economic point of view, the trillion-dollar silver economy and the deep cultivation of medical care and elderly care can become another growth curve for Ping An after comprehensive finance, build new barriers for Ping An, and achieve a win-win situation of social and economic benefits.
As of the end of June 2024, home-based elderly care services have covered 64 cities across the country, and more than 120,000 customers have been qualified for home-based elderly care services. Ping An's high-quality health care community project has been launched in five cities.
Ma Mingzhe said, "The medical care for the elderly is a family affair and a state affair. ”
On this basis, Ping An will explore a Chinese-style medical care model, the "comprehensive finance + medical pension" strategy, which is an upgraded version of the "Wells Fargo + United Health" model.
The Wells Fargo model is to dig deep into the diversified financial service needs of customers, and open up a number of businesses such as commercial banking, insurance, private banking, investment, brokerage, etc., while the United Health model is to extend the payment function of commercial health insurance to medical and health management service scenarios to create a closed business loop.
Ping An's medical care logic is the two-way empowerment of finance and medical care, so that the elderly can be cared for, depended on and treated.
financial services to maintain and increase the value of pensions; The insurance platform covers multi-dimensional and multi-stage pension protection such as medical treatment, critical illness and nursing; Medical and health platform to achieve extensive coverage of tertiary hospitals; The home-based elderly care platform, housekeepers and family doctors run through the entire medical care scene.
This set of ecological logic of medical pension has become a reality, insurance + medical health, insurance + home pension, insurance + high-end health care, progressive full-cycle standard system, has achieved remarkable results, breaking through the Chinese 9073 pension dilemma, so that the old age life of the Chinese people has dignity, quality and happier.
In the pension industry, the safety system is gradually forming an industry benchmark.
Brand building: create a century-old brand and create "a peace"
Over the past 30 years, Ping An has carried out five brand upgrades, witnessing Ping An's development from a single insurance industry to a two-wheel drive of "comprehensive finance + medical pension". Behind each upgrade, it has its own significance of the times, grasps the pulse of the development of the times, and the cultural core of Ping An has always been the same.
On the ecological map of Ping An, Ping An adheres to a single-brand strategy and emphasizes brand consistency. Sheng Ruisheng, Secretary of the Board of Directors and Brand Director of Ping An Group, said, "Ping An's brand building has both external management principles and internal brand concepts. ”
The core principle of Ping An brand is "One Ping An", emphasizing "one prosperity, one loss". Under this premise, every Ping An person is a brand ambassador of Ping An, shouldering the important task of maintaining and promoting the brand image, and jointly building customers' exclusive cognition and emotion of the Ping An brand.
Ping An is committed to providing customers with a "worry-free, time-saving, and money-saving" consumption experience through the most professional financial advisors, family doctors, and elderly care butler services.
Financial mixed operation is the general trend of the world's financial development, under the supervision of separate industries, to achieve mixed operation, "one safe", is the beginning of Ping An's century-old brand, but also the development practice of Ping An, "one customer, one account, one safe, one-stop service".
Whether it is brand development or business reform, Ping An strives to meet people's yearning and pursuit of a better life. Ping An's cultural core and service concept have always been organically unified.
Recently, Ping An also launched the "Real Image Project", using images as a medium to go deep into the front line and go directly to the scene, truly recording the stories of Ping An serving Chinese people in the south and north of the world, hoping to let the public feel the professionalism and temperature of Ping An in China more intuitively.
Different from traditional documentaries, Ping An wants to present the value and temperature of financial services from multiple perspectives. Finance, and the people it serves, are the protagonists of the record. In every place where peace is needed, every Ping An person is serving with heart. All this is to ensure that safety arrives in every corner in time.
"Insurance is not a cold policy, but should be a warm financial service." For example, the "Peace to You" documentary series portrays many of these stories. The brand team went to Nagqu in Tibet, Zhuozhou in Hebei, Beichuan in Sichuan, Suzhou in Jiangsu and other front-line filming to truly record the service stories of Tibet Yak Agricultural Insurance, Zhuozhou Flood Relief, Ping An Hope Primary School, and Ping An Home Care for the Elderly.
Through the "Real Image Project", Ping An can co-create with the media and the public, discover more real stories of innovative services in the financial and insurance industry, and tell the stories of China and Chinese through images.
Truth has the power of ten thousand jun, and the power of truth can reach people's hearts.
Ping An's pace of high-quality development will not stop. From the service concept to the development strategy, and then from the development strategy to the brand expression, Ping An has always been clear and warm. We believe that Ping An will create greater achievements and use its achievements to better serve the prosperity of the country and the strength of the people.