Elderly Care Needs the United Effort of Social and Family Forces

HONG KONG and SHANGHAI, Sept. 26, 2022 /PRNewswire/ — Ping An Lifetime, a subsidiary of Ping An Insurance policies (Group) Company of China, Ltd. (hereafter “Ping An” or “the Group”, HKEX: 2318 SSE: 601318), introduced its residence-centered aged care model, Ping An Concierge, continuing to construct differentiation pros with the “insurance coverage + household-primarily based aged care” assistance.

“Offering improved protection and expert services for the elderly is particularly the original aspiration of Ping An to establish the aged treatment business,” mentioned Jessica Tan, Co-CEO of Ping An Group, through the on the internet meeting. Ms. Tan explained elderly treatment issues, this sort of as the expanding getting older inhabitants, the more rapidly speed of aging population development, much less pensions and problems to household assistance, ought to be dealt with by means of the united effort of social and household forces.

4 dilemmas in China’s growing old modern society

“The getting old inhabitants has turn into a international problem and China’s aging society is facing four essential dilemmas,” Ms. Tan reported. “The proportion of China’s getting old population in excess of 65 is approaching the United Nations’ 14% deep warn line for growing older. By 2035, a super-aged culture will be formed, with the proportion of the elderly populace about 65 exceeding 20%.”

Not only is the aging population increasing, speed of progress is acquiring faster. “It took 115 many years for France and 69 years for the United States to double the number of men and women about 65 from 7% to 14%, though it took China only 22 a long time. We are growing older in a hurry, and culture and families are not ready and resourced enough,” Ms. Tan mentioned. In addition, China’s pension pool is shrinking. “China’s pension substitution amount has fallen from 87% in 1998 to 45% now, down below the global alert line of 55%, which implies a decline in the living standards of retired seniors.”

At the exact same time, it is becoming much more hard for relatives to guidance aged kinfolk. “China’s loved ones units are rapidly shrinking as far more little ones are born by itself. In 2020, China had, on ordinary, extra than 5 family members customers to help one particular elderly person, but immediately after 30 many years, that variety will fall to considerably less than 1.5 members,” Ms. Tan mentioned.

Two protections: prosperity safety + aged care companies

These trends are complicated the classic residence-primarily based aged treatment product. Constructing on the power of Ping An’s healthcare ecosystem, Ping An Lifestyle has formulated the “insurance policies + house-primarily based aged care” model and introduced the property-based mostly aged care brand name Ping An Concierge. Jessica Tan mentioned that Ping An’s property-based elderly care assistance not only delivers financial security, but also dwelling-primarily based aged care solutions with a dedicated concierge to assure that aged clients are at ease and their families have peace of head.

For the comfort and ease of the elderly, Ping An Concierge will provides hundreds of diverse companies masking 10 significant situations which includes clinical care, foods, housing, transportation, finance, health servicing, entertainment, security and protection. For case in point, as some aged persons do not go out generally, Ping An on the web dwell-streaming lessons can enable them to master and connect on the net. To put their households at simplicity, Ping An displays the household ecosystem with intelligent gadgets to make certain that the aged can right away make crisis phone calls in situation of accidents at home. The wellbeing monitoring system can detect difficulties in blood strain and snooze quality and health professionals can be named immediately when wanted. Ping An Lifestyle has supplies a dedicated “three-in-a single” concierge provider, including an synthetic intelligence-supported “smart” concierge, a lifestyle concierge and a physician concierge. The intelligent concierge offers capabilities these kinds of as lifestyle assistant and clever IOT by way of AI smart speakers the life concierge is an online genuine-lifetime butler who can reply to the requirements of the aged 24 hours, seven days a 7 days, this kind of as generating outpatient appointments or emergency calls for assist and the health care provider concierge is staffed by standard practitioners who can offer true-time distant consultation all around the clock.

Ms. Tan believes that home-based elderly care providers are pretty significant and valuable “not only for our shoppers and their mothers and fathers, but also for the brokers and the entire culture”.

Leveraging its substantial knowledge in the coverage and health care sectors and capturing the large alternatives in the health care ecosystem, Ping An proceeds to make a “finance + healthcare” provider process and extend its business ecosystems of “finance + aged care” and “finance + health care”. The Team is fully commited to giving shoppers with expert financial advisor, loved ones health practitioner and aged treatment concierge products and services, for be concerned-absolutely free, time-conserving, and revenue-conserving economic and healthcare provider ordeals. At present, Ping An Concierge has activated 8 major situations and made additional than 300 solutions for much more than 30 major cities across China, with extra than 10,000 clients competent for its household-centered aged treatment companies and much more than 3,000 buyers use its solutions.

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About Ping An Group

Ping An Coverage (Team) Firm of China, Ltd. (“Ping An“) strives to grow to be a entire world-leading retail fiscal companies team. With around 225 million retail customers and virtually 668 million world-wide-web customers, Ping An is one particular of the premier monetary companies companies in the world. Ping An advances smart digital transformation, and employs technologies to make improvements to the top quality and efficiency of its fiscal organizations and greatly enhance risk administration. The Firm believes “Experience Makes Value” and “Abilities would make daily life very simple”. Ping An develops the “built-in finance + health care” service method and builds the “finance + elderlycare” and “finance + health care” business ecosystems to provide expert “economical advisory, spouse and children physician, and elderlycare concierge” services. As China’s 1st joint stock insurance plan enterprise, Ping An is committed to upholding the greatest expectations of corporate reporting and company governance. The Group is stated on the inventory exchanges in Hong Kong and Shanghai. Ping An rated 17th in the Forbes World wide 2000 list in 2022 and ranked 25th in the Fortune World wide 500 checklist in 2022.

For additional details, be sure to check out www.team.pingan.com and observe us on LinkedIn – PING AN.

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Source Ping An Coverage (Team) Enterprise of China, Ltd.