Ping An Digital Risk System Global Risk Mitigation Platform Qorus-NTT DATA Innovation in Insurance Awards 2026

In recent years, global climate change has led to frequent extreme natural disasters. Data show that over the past century, the global average temperature has risen by 1.5°C. By the middle of this century, global temperatures may exceed 2°C. In the next 5–10 years, extreme disasters worldwide are expected to occur more frequently, intensifying extreme natural events such as high temperatures, droughts, and typhoons, and posing unprecedented challenges to human life and property. At the same time, risks in the field of production safety are also severe. According to Heinrich's Law, behind every major accident there are 300 hidden hazards. The overall safety situation in society remains complex and serious. Against this backdrop, humanity has gradually realized the need to intervene in risk management in advance, reduce risk exposure, and mitigate risk losses. In response to this new situation, the insurance industry is transitioning from traditional risk compensation management to full-process risk reduction management. Developing risk mitigation services has become a necessity of the times and an inevitable trend.

Risk mitigation services refer to proactive risk management measures taken before losses occur to reduce the likelihood of loss or lessen its severity. In terms of timing, they cover pre-disaster prevention, in-process control, and post-disaster handling. Technically, they include risk avoidance, loss prevention, loss reduction, separation, duplication and dispersion, and disaster recovery. At the same time, the service processes and methods of risk mitigation are closely linked with technology. Only by continuously strengthening the application of technology in risk mitigation services can their effectiveness be fully realized and truly serve national risk governance.

Facing increasingly severe long-term and systemic global risks, Ping An Property & Casualty Insurance adheres to its original financial intention of serving the people. Empowering risk mitigation through technology, it fully leverages insurance as a stabilizer for economic shock absorption and social stability. The company has consistently focused on studying risks, quantifying risks, and properly managing risks, gradually forming a comprehensive risk management system that covers pre-disaster early warning, in-disaster emergency response, and post-disaster claims settlement. To improve the quality and efficiency of risk mitigation services, since 2010 Ping An Property & Casualty Insurance has been committed to building the Digital Risk System, actively applying cutting-edge technologies such as artificial intelligence, big data, and satellite remote sensing. It has explored the creation of a "Insurance + Technology + Risk Mitigation Service" model to support disaster prevention and mitigation networks.

Over the past fifteen years, Ping An's Digital Risk System has undergone iterative upgrades from version 1.0 to 3.0. During the 1.0 phase, Ping An Property & Casualty Insurance introduced risk mapping functions, promoting the geographic visualization of underwriting and claims data as well as the digitalization of disaster risks. In the 2.0 phase, Ping An P&C Insurance focused on natural disaster risk management, independently developing more than 20 large-scale models and launching services such as disaster early warning, catastrophe management, satellite remote sensing, and data services. This achieves comprehensive management of natural disasters, covering pre-disaster warning, disaster response, and post-disaster assessment, with early warnings issued up to 72 hours in advance. In the 3.0 phase, natural disaster risk management was further upgraded with the introduction of Internet of Things security technologies and expansion into accidental risk management. The Digital Risk System has evolved from a natural disaster early warning tool into a global risk management platform.

Since its establishment, this project has mobilized both internal and external resources to jointly advance its development. Externally, it has collaborated with top consulting teams, bringing together professional resources from three research institutions, four industry associations, and multiple third-party organizations to build an integrated ecosystem of innovation, industry, academia, and research, laying a solid foundation for cutting-edge technology R&D and commercialization. Internally, a diversified innovation team of more than 20 professionals has been formed, with members drawn from key departments including technology R&D, data analysis, project management, and external cooperation. Their expertise spans seismology, hydrology and meteorology, geological disasters, and remote sensing technology, among other disciplines. Approximately 56% of the team members hold master's or doctoral degrees, forming a cross-disciplinary and multi-dimensional pool of professional capabilities that provides strong talent support for the project's smooth implementation.

Years of implementation have proven the effectiveness of the project. It has received high recognition from domestic and international clients, institutions, and media outlets, and has won numerous awards, including the First Prize of the 25th Financial Technology Development Award and the 2024 PSIPW International Water Award (Surface Water Category). The platform has been reported on by 953 domestic and international media outlets, including Xinhua News Agency, China Central Television (CCTV), The Wall Street Journal and Financial Times. In disaster response efforts in 2025, the project played a critical role by providing risk reduction services to customers in 34 provinces and autonomous regions across China, serving 6.7 million users, more than 6,000 Belt and Road overseas projects, and 650,000 expatriate personnel. It issued early warnings for 408,000 natural disaster events and released 940 million warning messages, enabling precise control of high-risk incidents. Cumulative reductions in social and economic losses exceeded RMB 3.3 billion, demonstrating significant economic and social value.

This project not only represents China's innovative strength in the field of financial technology, but also sets a new industry benchmark for global risk management. Through continuous technological innovation and practical application, it will continue to lead the insurance industry toward intelligent and preventive risk management, contributing to improved global disaster risk management capacity.