Using ecosystems to reach higher: An interview with the co-CEO of Ping An
McKinsey Quarterly interview with the co-CEO of Ping An, Jessica Tan
Expect digital to further blur industry lines, supercharge scalability, and loosen geographical restraints for professional services, says Jessica Tan.
Ping An is the archetypal example of how today’s Asian powerhouses succeed by creating, participating in, and exploiting digital ecosystems. Founded in 1988 as an insurance company in the then-rapidly developing city of Shenzhen, Ping An has since grown to become China’s largest non State-owned conglomerate by revenue (1.169 trillion RMB [$174 billion] in 2019), with portfolio companies spanning automobile services, financial services, healthcare, and smart city solutions. Early investments in digital technologies such as artificial intelligence (AI), blockchain, and cloud infrastructure help Ping An serve more than 214 million retail customers and nearly 579 million internet users across China. As chief information officer from 2013 to 2019, Jessica Tan was a key architect of Ping An’s digital-ecosystem-based business model. In an interview with McKinsey’s Jason Li and Joydeep Sengupta, Tan shared her thoughts on how the digital transformation will affect professional services, the synergies that big and small companies can share in digital ecosystems, and the ways in which she’s reimagining Ping An’s organizational structure and leadership selection criteria, starting from the company’s highest ranks.
Read the full interview by McKinsey & Company by clicking on the link below.