Blue to Start Operations in Hong Kong
Blue , “Hong Kong’s first digital life insurer” is now live.
The new digital insurer is a joint venture between Aviva, Tencent and Hillhouse, offering life and critical illness insurance via a mobile app and online. Blue was formed in February when the regulator approved a deal to allow Aviva to add in two shareholders to its Hong Kong operation: Tencent with 20% and investment company Hillhouse with 40%, leaving Aviva with the remaining 40%.
“We are redefining insurance in Hong Kong. Simple products. No paperwork. No commissions. Hongkongers are incredibly mobile and tech-savvy, yet the insurance market has been among the most traditional in Asia. Until now. Our new digital life insurer in Hong Kong, Blue, will offer insurance that customers can buy directly from their mobile phones, without the intermediaries – and the commissions.” – Executive Chairman of Aviva Asia and Aviva Digital, Chris Wei.
Bottom Line: Hongkongers will need stamps to file a claim.