Ping An on the hunt for more tech investment abroad

December 12 2017 by InsuranceAsia News Staff

Ping An Insurance is now scouting for more technology-related investments overseas.

This comes after the company has developed an innovative app that uses home-grown facial recognition technology to screen potential borrowers who may be lying about their intentions to repay their debt.

The innovation is now being used by the consumer finance unit of Ping An.

But it is only one of the hundreds of new technologies the company has developed internally and uses throughout its vast business.

The company earlier announced it set up a US$1 billion fund that invests in overseas financial and health technology.

According to Jonathan Larsen, Ping An’s chief innovation officer, the insurer recently bought into New York-based StartUp Health, an investor and incubator for healthcare firms.