Livi Bank Secures License to Expand Business With Insurance Offeringsby Fintech News Hong Kong February 15, 2022
livi bank, one of Hong Kong’s eight virtual banks, has been granted an insurance agency license from the Hong Kong Insurance Authority.
This paves the way for the bank to introduce a range of insurance products within the livi app.
livi will initially partner with life insurance provider, BOC Group Life Assurance, one of its shareholder’s subsidiaries.
BOC Life offers a comprehensive range of services in life insurance, wealth management and retirement protection.
The bank said that it will be tailoring a range of products specifically to meet the needs of its customers by providing them with seamless access to reliable life and health insurance products.
“With an insurance agency licence, livi is getting ready to expand our financial services offerings with simple and transparent insurance solutions.
We believe that insurance need not be complex, with our use of digital technologies, we can bring the innovative, simple and secure livi customer experience to the local insurance market,”
said David Sun, Chief Executive Officer of livi.
livi added that it will also continue to launch new wealth management products and services throughout 2022.