Aviva Hong Kong has partnered with Chinese technology firm Tencent Holdings and investment manager Hillhouse Capital to launch Hong Kong's first fully digital life insurer Blue. Aviva and Hillhouse both have a 40% stake in the venture, while Tencent has a 20% stake. Blue is offering a flexible term life insurance plan and a critical illness product. The company said it will offer an online portal for consumers to compare policies from different insurers on its website. Customers will also be able to gain coverage after answering a few questions online, rather than having to fill out extensive paperwork.
Aviva Hong Kong has partnered with Chinese technology firm Tencent Holdings and investment manager Hillhouse Capital to launch Hong Kong's first fully digital life insurer Blue. Aviva and Hillhouse both have a 40% stake in the venture, while Tencent has a 20% stake. Blue is offering a flexible term life insurance plan and a critical illness product. Since the online insurer cuts out the need for middlemen, it's thought the products offered will be cheaper than traditional coverage. Customers will also be able to gain coverage after answering a few questions online, rather than having to fill out extensive paperwork.