Ping An pays close attention to emerging trends including health and demographic changes. In order to better understand their impacts on insurance business we continuously conduct research on various business risks and opportunities related to specific emerging trends. After a thorough evaluation of the business risks and opportunities Ping An launches products and service plans to fulfill rising demands of the market.Aging population and emerging health issues Ping An published two research papers theHealth Insurance Market Insights Report 2021Chinese onlyandWhite Paper on Elderly Health Insurance Needs 2021Chinese only.The papers discuss potential business opportunities for insurance products related to emerging social and demographic changes and associated health issues. The papers also present Ping Ans findings about the health problems emerging from social and demographic changes as well as the emerging demands on pension funds due to the aging population. The gap between insurance products in the market and emerging demands from elderly diseases and subhealthy populations is analyzed by researchers.In this context we believe the life insurance market is underserved. The aging population and accumulating household wealth present vast healthcare and eldercare insurance demands. Therefore in products Ping An Life created differentiated advantages with three core services insurance health managementinsurance highend elderlycareand insurance homebased elderlycare. Healthcare management covers customers39 every life stage with family doctor services health assessments reward programs and an array of health plans. Elderly care includes homebased care and highend elderly center care combining financial protection with healthcare and tailored concierge services to meet the daily needs of senior living.Urbanization As stated in theNotice on Strengthening Financial Services for New Urban Residentsissued jointly by China Banking and Insurance Regulatory Commission CBIRC and the Peoples Bank of China PBC new urban residents need more accessible and convenient financial services. The population growth of new urban residents is a substantial trend of urbanization in China. Ping An has closely studied the trend and evaluated the business risks and opportunities. Ping AnsWhite Paper of Financial Services for New Urban Residents 2022 Chinese onlyanalyses the occupational risks the lack of access to insurance channels and lack of suitable insurance products for new urban residents and makes recommendations of insurance products and relevant services for this urbanization trend.To address the emerging demands of insurance from this urbanization trend Ping An is launching a series of exclusive products and green channels for new urban residents including insurance wealth management financing and eldercare where core business lines of Ping An are involved. The challenges of new urban residents such as job instability low participation in social insurance and poor overall risk resistance are fully considered in the design of products and services. For examplePing An Property Casualty launched a series of work accident insurance products which insure occupational risks specifically for new urban resident groups e.g.fooddelivery workerscarhailing driversanddomestic helpers. Ping An Life also launched a special accident insurance product which provides customization options that enable new urban residents to select suitable insurance policies according to their occupational conditions.