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Ping An named the world's most valuable insurance brand

  • Publish Date: Posted almost 7 years ago

China's Ping An has overtaken Germany's Allianz to become the world's most valuable insurance brand with a brand value calculated at $16.3 billion. Ping An posted net profits of $9 billion in 2016. Despite a slowdown, its core market of China is far more dynamic than the US and Western Europe, where the other leading brands are based, helping it to the top spot. Furthermore, Ping An has been extremely successful at cross-selling based on excellent core products. The firm offers a limited number of free products and services to potential customers via its online platform. This has generated goodwill and significantly expanded Ping An’s user base, creating a platform for cross-selling. Ping An is just as focused on its brand as its revenues. It is the first Chinese financial firm to deploy a Net Promoter Score (NPS) model to track customer feedback and brand loyalty. This commitment to tracking and tweaking the brand is paying off, with very high customer equity scores on Brand Finance’s Brand Strength Index. Brand Finance’s CEO David Haigh said, “Ping An has lofty ambitions, aiming to become the world’s leading provider of personal finance. Based on this evidence, in the long term it may not be an unrealistic goal.”