Aviva Hong Kong has partnered with Chinese technology firm Blue and investment manager Hillhouse Capital to launch Hong Kong's first fully digital life insurer Tencent Holdings. Aviva and Hillhouse both have a 40% stake in the venture, while Tencent has a 20% stake. Tencent Holdings 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.
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.