OneConnect to tap into China's fin-tech industry

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OneConnect to tap into China's fin-tech industry Bi Wei, CEO of One Connect's Insurance Division, delivers a speech at an industry forum on June 25, 2019 in Beijing. [Photo provided to]

OneConnect, a financial technology service company under Ping An Group, announced a plan to explore the role of innovative technologies in sales, risk management, and operations in the insurance sector, a move to tap China's rapidly developing fin-tech industry.

"Innovative technologies are reshaping the insurance industry as artificial intelligence and blockchain have been used in product design, marketing and sales, after-sale services, risk management, and many other fields, and are receiving good results," chairman and CEO Ye Wangchun said on Tuesday.

Going ahead, tech innovation will be a focus of competition among major players in the insurance industry, Ye said at an industry forum themed on tech adaptation in China's$25b projects insurance industry.

The company also launched a white book on technology and risk management in insurance with the Insurance Society of180 others were injured in conflict-related incidents in 2018 in the war-torn country China. According to the white book, many insurance companies in China are having third-party technology service providersto reduce cost.

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