Core Insights - The insurance industry is shifting from traditional risk management to proactive risk reduction management in response to complex global risks and climate change challenges [1][2] - The integration of technology and services in risk reduction is seen as a valuable tool for promoting high-quality economic development and modern urban governance [1][2] Group 1: Industry Transformation - The insurance sector is transitioning from "post-claim compensation" to a comprehensive risk management approach that includes "pre-warning, intervention during events, and post-event compensation" [1] - Ningbo, as the first national-level insurance innovation pilot zone, is enhancing its insurance functions from traditional economic compensation to a comprehensive service model that covers risk warning, process control, and loss mitigation [1] Group 2: Technological Integration - Ping An Property & Casualty is leveraging technological advantages to innovate risk reduction services, moving towards "full-cycle risk management" using AI, big data, IoT, and satellite remote sensing [2] - By October 2025, Ningbo's safety responsibility insurance is expected to cover 51,000 enterprises, with a pre-service coverage of over 30,000 companies, leading to a significant reduction in accident occurrences [2] Group 3: Product and Service Innovation - Ping An Property & Casualty has launched over 70 insurance products tailored for technology companies, addressing various stages of innovation and providing comprehensive risk management solutions for 69,000 enterprises [3] - The insurance industry is actively developing innovative insurance products and automated service systems to meet the needs of emerging sectors like the low-altitude economy [3] - The shift from "loss compensation" to "risk reduction" reflects the industry's evolution in supporting national governance modernization and high-quality development [3]