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 event "Ping An Lecture Hall: New Paradigm of 'Prevention, Rescue, Compensation, and Use' in Insurance" highlighted the shift in the insurance industry from post-event compensation to comprehensive risk management [1][3] - Ping An has launched two 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 proactive risk management [3][8] Group 1: Industry Transformation - The insurance industry in China is transitioning from "scale expansion" to "quality enhancement," focusing on risk co-governance and the essential value of insurance in addressing social needs [4][6] - The evolution of insurance from a mere financial product to a risk co-governance contract between the state and the people aims to create social value through effective risk management [4][6] Group 2: Product Innovations - "Ping An Travel Safety Guardian Plan" offers a full journey emergency rescue service system, emphasizing prevention, timely rescue, efficient compensation, and additional services like medical assistance [6][7] - "Ping An 24 Global Guardian Plan" provides a one-stop service for overseas travelers, covering pre-travel, during travel, and post-incident support, with a focus on proactive risk management [8][9] Group 3: Performance Metrics - "Ping An Travel Safety Guardian Plan" has served 42.9 million customers and processed over 3,500 claims, showcasing its effective response mechanism and comprehensive support [7] - "Ping An 24 Global Guardian Plan" has handled 426 overseas emergency rescue tasks in 2024, with a total compensation amount exceeding 220 million yuan, reflecting its operational efficiency and customer satisfaction [9]