InsurTech
Avo Becomes The First Virtual General Insurer in Hong Kong
Hong Kong’s Insurance Authority announced on Tuesday that it has granted the first authorization for virtual general insurance under Fast Track. The license was granted to Avo, a local insurtech company providing products like health and travel insurance. The Fast
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CoverGo Teams up with Jetco to Build Car Insurance Open API Platform
Joint Electronic Teller Services Limited (“JETCO”) today announced its collaboration with insurtech provider CoverGo to build car insurance API platforms that will offer price comparison, online applications, claiming and a range of other innovative features based on JETCO APIX, an
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How Tencent is Trying to Fill China’s US$805 B Insurance Gap Using Social Media
Over the past years, China’s Internet giant Tencent has been expanding its strategic positioning in the insurance industry. The Chinese firm’s latest move has been to lead Xiaobang Guihua’s RMB 200 million (US$28.4 million) Series B equity funding round in
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A Look Behind the Technology Gameplan of China’s Insurtech Giant, ZhongAn
ZhongAn Online one of the leading insurtech companies in China, announced today its first six months interim results as of 30 June 2019. By harnessing the latest technologies, ZhongAn Online continues to integrate technology into every process in the insurance
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How Will Driverless Cars of The Future Be Insured?
Self-driving cars have been touted that as the future of transportation by many, including the likes of Elon Musk who claimed that Tesla will roll out “truly self-driving cars” by 2020, which in case you have noticed, is only a
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Digital Insurance Grown 20 Times but Traditional Channels Still Dominant in China
The insurance industry is on the brink of a major transformation, driven by factors such as macroeconomic development, changing consumer expectations, technological innovation and increased competition, according to a recent insurtech report by jointly published by ZhongAn and KPMG. In
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Shake-Up in ZhongAn’s Senior Leadership Team
ZhongAn, a leading insurtech company in China, today announced new senior leadership appointments. Former General Manager and Joint CEO Mr. Jin Chen has resigned his positions, whilst continuing his role as an Executive Director, Chairman of the Investment Strategy Committee
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Globally, Insurtechs Received over US$1 Bil in Funding Q1 of 2019
Insurtech investment continued its momentum with 85 deals totaling US$1.42 billion recorded in Q1 2019, marking the third-straight quarter to register more than US$1 billion in funding. Over Q4 2018, the deal count increased by 35%, although total funding decreased
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Hong Kong Insurtech OneDegree Closes Over US$ 30 Million in Extended Series A
OneDegree, a Hong Kong-based insurance technology start-up under Cyberport Incubation Programme, extends its Series A round to above US$30 million, subject to regulator’s approval. The extended round is led by BitRock Capital and it sees participation from Cyberport Macro Fund,
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Insurtech’s Explosion in Hong Kong, and What May Be Coming for the Scene
Asia is traditionally a region with low insurance penetration, and Hong Kong was no exception to that rule. Between 2012 – 2016, Hong Kong’s insurance penetration changed from 12.4% of the population to a 17.6% of the population—a significant increase
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