Core Insights - The insurance industry is transitioning into its 3.0 era, focusing on responding to social needs rather than merely expanding scale or profits [1][2] - The shift emphasizes a full-chain service model that includes prevention, intervention, and compensation, aiming to reduce overall social risk costs [1] - The industry is moving from a focus on wealth management to a model that prioritizes protection, inclusivity, technology-driven solutions, and service excellence [1] Industry Evolution - The insurance industry in China has evolved through several stages since the 1980s, starting from a focus on property risk (1.0), to wealth management (2.0), and now to a protection-oriented model (3.0) [1] - The current focus is on quality improvement and risk-sharing, moving away from being merely a post-event compensation tool [1][2] Regulatory Influence - Recent government guidelines emphasize the need for the insurance industry to act as a stabilizer for the economy and society, promoting product innovations such as agricultural insurance and catastrophe insurance [2] - The regulatory framework encourages the industry to innovate in risk management, shifting from a model that bets on customers not claiming to one that helps customers avoid claims [2]

Core Insights - The insurance industry in China is transitioning from a "post-event compensation" model to a "full-process risk management" approach, emphasizing proactive risk management and comprehensive service [1][2][6] - China Ping An has launched innovative insurance products, "Ping An Travel Safety Guardian Plan" and "Ping An 24 Global Guardian Plan," aimed at transforming insurance services from passive compensation to active risk management [1][5][6] Group 1: Industry Evolution - The insurance industry has evolved through several stages since the 1980s, moving from protecting property to wealth management, and now to a focus on risk management and social value creation [2] - The ultimate value of the insurance industry lies in its ability to meet social needs rather than merely focusing on scale or profit [2] Group 2: Product Innovations - "Ping An Travel" constructs a comprehensive service system covering prevention, rescue, compensation, and utilization, aiming to reduce risks from the outset [3][4] - "Ping An 24" offers a one-stop service for overseas travelers, including insurance coverage, medical rescue, and emergency assistance, with a focus on proactive risk management [5] Group 3: Performance Metrics - "Ping An Travel" has served 42.9 million customers and processed over 3,500 claims, showcasing its effective response mechanisms and resource integration [4] - "Ping An 24" has handled 426 overseas emergency rescue tasks with zero complaints, serving over 60,000 enterprises and 650,000 customers, with total compensation exceeding 220 million yuan [5]