Jessica Tan, the Executive Director and Co-CEO of Ping An Insurance Company of China, has transitioned from an insurance company to a "technology+finance" juggernaut. Tan's success mirrors the Chinese conglomerate's transition from an insurance company to a leading figure in international business, transitioning from a MIT student to a McKinsey Partner.

In 2020, Fortune magazine named Tan the second most powerful woman outside the US, two spots up from her debut the previous year. Under her leadership, Ping An's employment strategy prioritizes inclusivity, with nearly 50% of its employees being women and over three-quarters of senior business directors.

The Ping An Insurance (Group) Company of China, founded in 1988 by businessman Peter Ma, is a multibillion dollar company that originated in Shenzhen. The name, meaning "safety," was chosen to communicate its message to potential clients. Four years later, it expanded to become a national insurance company and entered China's individual life insurance sector in 1994, introducing a new marketing system to further its growth.

Ping An, a Chinese financial institution, became the first to allow foreign investors in 1995, with Morgan Stanley and Goldman Sachs joining. In 2003, it acquired Fujian Asia Bank and Shenzhen Commercial Bank, forming Ping An Bank. In 2012, it established Lufax, a wealth management platform, marking its latest venture. The company expanded into the securities market in 1995.

Lufax aimed to offer Ping An entry into fintech and healthtech sectors, with plans already underway by Tan's arrival in 2013. With degrees in electrical engineering and economics from MIT, Tan began her career in 2000 as a consultant at McKinsey & Company, helping clients transform their companies and increase technology use in operations.

In 2013, Tan left McKinsey and joined Ping An's Shenzhen office. She became Group CIO and advocated for better technology use. Technology and research and development have become the Group's cornerstones, powering retail financial services operations for over 220 million retailers and 611 million online customers.

Tan, as CIO and COO, emphasized the importance of "technology plus finance" in Ping An's 21st-century success. Her tech-heavy approach has benefited various ventures, including Lufax, Autohome, and Ping An Smart City, which integrates cloud computing, blockchain, and artificial intelligence into traditional infrastructure.

Ping An, a tech giant, has been aggressive in digitization, spending over US$1.7 billion annually on technology R&D. Despite the uncertainty of technology changes, the company believes it is important to have these capabilities. With local success, the company aimed to take Ping An's tech offerings global, highlighting the universal appeal of Tan's agenda.

Chinese tech giant Ping An is exploring the possibility of expanding its tech-driven models overseas, as they don't require extensive local knowledge or resources. The company hopes to create a symbiotic relationship with the global market, which is more ready for Chinese companies like Tencent and TikTok. This move comes amid the pandemic, and Tan, who became Deputy Group CEO in 2017, has been spearheading Ping An's telehealth initiatives since becoming Deputy CEO in late 2017.