Hong Kong, 24 October 2023 – bolttech Insurance has been named one of the top three finalists in the “Best Partnership Project Award - General Insurance” category at the Hong Kong Insurance Awards 2023. This recognition highlights bolttech Insurance’s distinctive capability to collaborate with livi bank, enabling the provision of embedded insurance solutions for enhanced accessibility and convenience to over 300,000 customers.
bolttech Insurance’s partnership with livi bank addresses a protection gap highlighted in livi's recent customer survey. While 70% of respondents shopped for home insurance online, only 28% of them purchased the coverage they needed due to confusing policies and a cumbersome online application process. Through bolttech Insurance's wrapper API technology, livi can access a comprehensive product range tailored to meet the evolving needs of their customers. In this way, bolttech Insurance’s platform enables easy scalability for partners to add new products to their platforms.
"We are grateful for the recognition of the innovative partnership we have forged with livi bank, as we are one of the few digital insurers to embed insurance products into their customers’ digital journey," said Alister Musgrave, General Manager of bolttech Insurance. "Through the partnership, we not only streamlined the insurance purchase process from application to policy management, but also demonstrated our dedication to meeting the evolving digital lifestyle needs of Hong Kong customers. We anticipate announcing more innovative partnerships in the near future, reaffirming our commitment to driving transformation in the insurance industry."
Organised by the Hong Kong Federation of Insurers and South China Morning Post, The Hong Kong Insurance Awards is one of the most prestigious and reputable annual celebrations in the Hong Kong insurance industry. The ‘Best Partnership Project Award’ aims to recognise an outstanding project that delivers value to customers, through a collaboration between two industry players or a cross-sector partnership.