In mid-December 2018, Peter Ma, Chairman and CEO of Ping An Insurance (Group) Company of China, Ltd. was considering whether the company should grow a fifth ecosystem of Smart City Services. Established in 1988, Ping An was one of the top 10 global financial institutions in terms of market capitalization with 342, 550 employees and nearly 1.4 million sales agents. Under Ma's leadership, Ping An was transforming from a traditional financial institution to a leading global technology-powered personal financial services group. In recent years it executed a strategy of "Finance+Ecosystem" by leveraging three frontier technologies-AI, blockchain, and cloud technology-to develop four ecosystems: Financial Services, Healthcare, Automobile Services and Real Estate Services. Smart City Services, with its business potential and social impact, had become an attractive new opportunity for Ping An to leverage its technology expertise and business experience while gaining new traffic for the other four ecosystems. Ma wondered: How important would this new ecosystem be strategically for the future of Ping An? If Ping An decided to go after this market, how should Ping An differentiate itself from competitors?