Page 51 - Forbes - Asia (June 2018)

GLOBAL 2OOO
HOLLYFRONTIER US 917 S
HOME DEPOT US 121 T
HON HAI PRECISION TA 105 T
HONDA MOTOR JA 58 S
HONEYWELL INTERNATIONAL US 210 T
HONG KONG EXCHANGES HK 756 S
HONG LEONG FINANCIAL MA 1568 T
accidents is at diferent times of the day and I am not in a position to speculate on regu- HOPSON DEVELOPMENT HK 1579 S
HORMEL FOODS
US 958 T
week, weather conditions. We are building a latory or future regulatory matters. HOST HOTELS & RESORTS US 1238 T
HOYA (ELECTRONICS)
JA 1166 T
platform for accidents in all cities. We will be Do you plan to expand outside of China? HP US 247 S
HSBC
UK 17 S
consolidated onto this platform, and drivers We believe the models and technology HUA NAN FINANCIAL TA 1458 T
CN 1283 T
HUADIAN POWER INTL
can, instead of waiting for the traic police, are replicable. Foreign banks are using our HUANENG LANCANG RIVER CN 1701 O
HYDROPOWER
take pictures of the accident, upload them, OneConnect services, good for retail risk HUANENG POWER INTL CN 745 T
HUATAI SECURITIES
CN 736 S
with our AI modules analyzing the degree of assessment. Our OneConnect and Lufax, the HUAXIA BANK CN 289 T
HUBEI BIOCAUSE PHARMA
CN 1691 O
damage, and the liability [is determined]—as peer-to-peer lender, already opened an oice HUISHANG BANK CN 900 S
HUMANA
US 306 S
straightforward as you can go. in Singapore. HUNAN VALIN STEEL CN 1266 O
HUNTINGTON BANCSHARES US 712 S
About 90% of cases can be streamlined. We What’s the end goal? What shape will HUNTINGTON INGALLS IND US 1452 T
HUNTSMAN US 1322 S
built these services over 20 years in a reposi- Ping An take down the road? HUSKY ENERGY CA 721 S
HYAKUGO BANK JA 1750 T
tory for claims for everything, from the cost of In the next ten years, our strategy is very HYAKUJUSHI BANK JA 1808 T
HYATT HOTELS US 1806 O
every auto part in diferent cities and the labor clear: to have our core financial services busi- HYDRO ONE CA 1456 T
HYOSUNG KO 1740 T
cost involved and fraud, with the help of car nesses continue to grow. We want to provide HYUNDAI ENGINEERING KO 1450 T
HYUNDAI GLOVIS KO 1472 T
mechanics in constructing these models. financial services as well as technology exper- HYUNDAI HEAVY INDUSTRIES KO 1182 T
HYUNDAI MARINE & FIRE KO 1137 T
How would you prevent the contagion tise. When we first started to do this, frankly, HYUNDAI MOBIS KO 443 T
HYUNDAI MOTOR KO 147 T
e ect of risks spreading across various there was internal debate and worries that HYUNDAI STEEL KO 923 T
IBERDROLA SP 146 T
financial units—banking, insurance, online we would be helping our competitors. Peter IBM US 67 T
ICA GRUPPEN SW 1589 T
lending, brokerage? [Ma] was very strong in saying that we want ICBC CN 1 O
ICICI BANK IN 320 T
Each of our units has its own regulators, to serve the entire market, we don’t want just IDBI BANK IN 1618 T
IDEMITSU KOSAN JA 711 S
with capital ratios for each of them publicly ourselves to be very good. This is something IDEXX LABORATORIES US 1878 O
IHI (CAPITAL GOODS) JA 1542 T
available and run as separately legal entities that we stuck to throughout the past ten years, IHS MARKIT UK 1211 S
IIDA (CONSTRUCTION) JA 1416 T
to answer to their own regulators. You can say and we will continue to do for the next ten ILIAD FR 1597 T
ILLINOIS TOOL WORKS US 535 T
they are operated independently. years. Our consumer lending was completely ILLUMINA US 1250 S
Cross-selling is a feature of Chinese o ine four years ago. Now it’s completely IMPERIAL TOBACCO UK 361 T
INCHCAPE
UK 1903 S
finance. online. INDIABULLS HOUSING FINANCE IN 1517 S
INDIAN BANK
IN 1934 S
China is not like a developed market At my former employer, McKinsey, there INDIAN OIL IN 270 T
INDIAN OVERSEAS BANK
IN 1871 T
where people tend to cherry-pick individual were in the past very clear sectors—func- INDITEX SP 289 T
INDORAMA VENTURES
TH 1289 S
IN 1650 T
services. The 1.4 billion people of China have tional, vertical and horizontal. These days INDUSIND BANK CA 1180 S
INDUSTRIAL ALLIANCE INS
varying degrees of financial-services aware- everything is blurred. Technology has reached INDUSTRIAL BANK CN 62 S
KO 588 S
INDUSTRIAL BANK OF KOREA
ness, capability and trust. Each of our apps into all parts of business and is changing INDUSTRIES QATAR SW 1454 T
QA 1245 T
INDUSTRIVARDEN
has a magic gate to this one portal, which them. Technology used to be a sector of its INFINEON TECHNOLOGIES GE 842 S
INFOSYS
IN 653 T
links hundreds of [our] systems. Our view is: own—now it pervades everything. ING NE 56 T
INGERSOLL RAND
IR 619 T
“One customer, multiple products, one-stop When we set up insurance, we learned INGREDION US 1759 T
INMOBILIARIA COLONIAL
SP 1900 O
shop, one account.” from AIA; we learned from other models. INNER MONGOLIA BAOTOU STEEL CN 1058 S
INNER MONGOLIA YILI
CN 867 S
But we have strict rules about cross-selling These things that we are creating now don’t INNER MONGOLIA YITAI CN 1601 O
INNOLUX
TA 1201 S
by cold calling. One business unit cannot give exist in the world. INPEX (OIL & GAS) JA 916 S
INSURANCE AUSTRALIA
AU 885 S
away the customer information to another Chairman Ma founded Ping An with INTACT FINANCIAL CA 1066 S
US
INTEL
49 S
unit. Our insurance agents, 1.39 million of investment from state-owned China Mer- INTER RAO RU 1173 T
INTERACTIVE BROKERS US 1017 S
them, build trust with policyholders and chants Group in the mid-1980s. Does the INTERCONTINENTAL HOTELS UK 1583 S
INTERCONTINENTALEXCHANGE US 472 T
that can lead to the sale of the Ping An credit state still have influence? INTERNATIONAL AIRLINES UK 413 T
INTERNATIONAL PAPER US 382 S
cards, for instance. We don’t cross-sell, per se, Peter was a human resources manager at INTERPUBLIC US 1344 T
INTESA SANPAOLO IT 61 S
because it is unthinkable for a person, even China Merchants, but we were not a state- INTL FCSTONE US 1555 S
INTUIT US 979 S
our life insurance agents, to be proficient in so owned company. We have no representatives INTUITIVE SURGICAL US 1107 S
INVENTEC TA 1786 S
many products. That is why everything is on from the government on our board—we are INVESCO US 907 S
INVESTEC UK 1070 S
the app. And we try to make sure that every- completely a publicly listed company. INVESTOR AB SW 515 T
INVITATION HOMES US 1661 O
thing can be done online. In state-owned enterprises, there are state IPG PHOTONICS US 1926 O
IQVIA US 663 S
Right now, China is imposing new regu- representatives in the management—we never ISBANK TU 677 T
ISETAN MITSUKOSHI JA 1841 T
lations on financial conglomerates. On the have had any shareholder in our 30 years send ISRAEL DISCOUNT BANK IS 1603 S
ISS DE 1932 T
other hand, the market is opening up to representatives to the management team. They ISUZU MOTORS JA 773 T
ITAÚ UNIBANCO BR 45 T
new foreign investment. Would this have have board representation, yes. ITAÚSA BR 818 T
ITC (FOOD, DRINK & TOBACCO) IN 772 S
the potential of changing how Ping An We do have government stakes investing in ITOCHU JA 206 S
ITV UK 1928 T
operates? us because we are a very good investment. F IYO BANK JA 1656 S
J SAINSBURY UK 872 T
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JUNE 2018 FORBES ASIA | 49 ASIAN COMPANIES ARE IN RED TYPE