HomeResearch & Knowledgeback to HomeFinanceback to Research & KnowledgePing An: How a Chinese insurance firm became a tech giant (B)back to Finance

Case Study

Ping An: How a Chinese insurance firm became a tech giant (B)

By Howard H. Yu, Yunfei Feng and Anouk Lavoie Orlick

8 pages

November 2020

Order this case study

Reference: IMD-7-2243

While Ping An is so successful to transform and reinvent itself to a tech giant, it discovered the demand of small and medium sized financial institutions to deploy technology. In December 2015, Ping An set up OneConnect, a fintech spinoff, to export its internal technology and repackage them as services to other banks and insurance companies in China. Case (B) is about how Ping An incubated OneConnect and development of OneConnect. OneConnect is in an expansion phase, growing from its Chinese client base to offer its cloud-based services across Asia. At the beginning it relied very much on Ping An in terms of technology, people and other resources, and became more and more independently later on. OneConnect turned out to be a unicorn and was listed on the New York Stock Exchange in December 2019.

Learning Objective

Identify the mind-set of a leadership team that looks beyond typical short-term planning horizons

Keywords

Finance, Digital, Digital Transformation, Start-up, Incubation, Leadership, Transformational Leadership, Transformation, China, Future Readiness

Settings

Asia Pacific, China
Ping An Insurance, Finance and Insurance
1988-2020

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

This case study is part of a series

Ping An: How a Chinese insurance firm became a tech giant (A)
Ping An: How a Chinese insurance firm became a tech giant (B)
Ping An: How a Chinese insurance firm became a tech giant (C)

This case study is part of a series

Ping An: How a Chinese insurance firm became a tech giant (A)
Ping An: How a Chinese insurance firm became a tech giant (B)
Ping An: How a Chinese insurance firm became a tech giant (C)

Keep reading

Article

Leading Global Operations - Complexity and Change

Leading global operations through complexity and change in 2025 means embracing AI and ML to streamline supply chains and meet rising demands.

Artificial Intelligence Digital Leadership Strategy Supply Chain

By Ralf W. Seifert and Katrin Siebenbürger Hacki

in I by IMD

Article

Climate Risk - CFO Horizons - Financial Imperative

CFOs must drive a financially disciplined way to manage environmental and climate risk amid growing push back against sustainability efforts.

Finance Sustainability

By Karl Schmedders

in I by IMD

Article

The dss+ journey - Buying your way into entrepreneurship

How a private equity-backed corporate carve-out created a successful, sustainable consulting powerhouse by Benoit Leleux

Entrepreneurship Finance

By Benoit F. Leleux

in I by IMD

Article

China's technology sector - AI innovation

China's technology sector leads global innovation with AI, semiconductor growth, and strategic diversification. R&D investments fuel success amid regulatory challenges.

Artificial Intelligence Digital Innovation Technology Management

By Mark J. Greeven and Sophie Liu

in I by IMD

Article

China's Apparel Sector -Domestic Champions

China’s apparel sector in 2025 sees local brands rise and global players adapt amid digital, Research & Development, and innovation-led growth.

Business Transformation China Data Analytics Global Business Resilience

By Mark J. Greeven and Sophie Liu

in I by IMD

Article

China's pharmaceutical sector - Demographic driven

Explore how innovation, R&D, and policy reforms are reshaping China’s pharmaceutical sector amid rising healthcare demand and demographic shifts.

China Decision Making Global Business Innovation Marketing

By Mark J. Greeven and Sophie Liu

in I by IMD

Case Study

Your company (and your life) in the hands of an AI agent?

The case study introduces an original way of exploring the many questions and concerns around AI adoption in business. Based on a true story, it discusses the dilemma of AI implementation through Joe, the CIO of ParcelFlow. Joe is getting ready to...

Artificial Intelligence Digital Strategy

By José Parra Moyano and Alix Rey

Article

Lifepreneurs - Rethinking the default

Women’s realities are often overlooked, but lifepreneurs—entrepreneurs innovating from experience—are turning struggles into profit and systemic change.

AstraPay in Indonesia: Playing the digital payments platform vs. ecosystem game

This case study explores AstraPay’s journey to become a significant player, despite its latecomer status, in Indonesia’s burgeoning digital payments landscape. Launched in 2018, AstraPay had grown to serve over one million customers, but it faced ...

Digital General Management Strategy

By Marleen Dieleman, Aarthi Thyagarajan, Pranesh Mahadeo, Maxence Nobels and Guillaume Clement

Article

Die USA haben Chinas Innovationskraft komplett unterschätzt

It's a reversal of the situation: Chinese automaker BYD is offering to collaborate with former electric car pioneer Tesla. From drones to livestream trading to artificial intelligence: China is often ahead of the West.

Innovation China Technology Management

By Mark J. Greeven

in NZZamSonntag

24 March 2025

Leading Global Operations - Complexity and Change

By Ralf W. Seifert and Katrin Siebenbürger Hacki
in I by IMD

Summary

Leading global operations through complexity and change in 2025 means embracing AI and ML to streamline supply chains and meet rising demands.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Artificial Intelligence

Digital

Leadership

Strategy

Supply Chain

Browse all topics

China's technology sector - AI innovation

By Mark J. Greeven and Sophie Liu
in I by IMD

Summary

China's technology sector leads global innovation with AI, semiconductor growth, and strategic diversification. R&D investments fuel success amid regulatory challenges.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Artificial Intelligence

Digital

Innovation

Technology Management

Browse all topics

China's Apparel Sector -Domestic Champions

By Mark J. Greeven and Sophie Liu
in I by IMD

Summary

China’s apparel sector in 2025 sees local brands rise and global players adapt amid digital, Research & Development, and innovation-led growth.