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(Hong Kong) BODW 2020 – A few insights about InsurTech start-ups in Hong Kong

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#InsurTech is getting great momentum in Hong Kong. #Bowtie #Blue #OneDegree #CoverGo #Coherent #Weinsurance #ZongAn & a few more have been pioneering it & performing well. At the same time, incumbents gradually ramping up their innovation  like #Aviva #AXA #Prudential #SunLife #Zurich

I had a fruitful discussion with Fred Ngan #Bowtie in the #BODW2020 a few weeks ago. Today, I had another chance to talk to a group of experts in the InsurTech industry including Isabel Feliciano-Wendleken Lapman Lee  Syed Musheer Ahmed in the 2020 #NEXX FinTech at #Cyberport.

My key takeaways:
1. InsurTech startups need to find the right sponsor in the incumbents which are aligned on KPIs

2. Like #OpenBanking#OpenInsurance is needed for better customer experience & collaboration with the ecosystem

3. Build digital insurance from scratch so that the end products are simplier in nature & easier for designing better customer centric solutions

4. #B2B gains good momentum while #B2C can learn from #VirtualBanks.

Apart from InsurTech, the Conference had panels on #VirtualBanking#Payments & other hot FinTech topics. Glad to see good friends Ernest Leung from #WeLabMedhy Souidi from #DBS & FinTech guru Emil Chan & others.

Appreciate Mann WM Yim & Ivy Chan for organizing the conference.

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