【Two Cyberport Programme Alumnus & Investee joined forces to drive InsurTech Transformations】 Cyberport Incubation Programme Alumnus & Cyberport Macro Fund Investee MediConCen and Cyberport Creative Micro Fund & Cyberport Incubation Programme-backed virtual insurer Bowtie Life Insurance Company joined-hands to streamline patients' customer journeys and alleviate business pain points. This digital transformation has disrupted business models, improving customer experiences and driving operational efficiency. The key challenge of this partnership is the data security requirement. They managed to find a way to share data within the proper risk management framework by enhancing security measures to protect customers' valuable data, reducing risk of data breaches, and enhancing data governance practices. These crucial steps create powerful impact in customer trust and long-term relationship building, and loyalty. What’s more, MediConCen also partners with FTLife Insurance Company Limited to automate and advance the inpatient claim journey using A.I. and Big Data to process claims faster, more efficiently and accurately. The 3 companies demonstrated InsurTech by innovating and transforming existing practice and ensuring data security standards are met at the same time. Cyberport stands in line with them in committed to promoting the development of FinTech in Hong Kong and will continue to provide support to the InsurTech start-ups and work with Hong Kong Monetary Authority (HKMA) to foster industry development. Watch the video now to learn more. #Cyberport #CyberportCommunity #CIP #CCMF #MediConCen #Bowtie #BowtieGo #HKMA
Our newly launched video series “Fintech Transformations” aims to shed light on the evolving landscape of #Fintech and its profound impact on Hong Kong’s financial industry. The inaugural episode focuses on #Insurtech, a rapidly growing sector that is revolutionising traditional business models and driving innovation. Established and emerging insurers operating in both traditional and virtual spaces are adopting digital ecosystems, championing digital advancement while ensuring customer protection remains at the heart of their strategies. In this video, a collaboration between the HKMA and the Insurance Authority, KPMG China’s Mr Mark Prichard shares his expert insights on how Insurtech is reshaping the insurance industry. The video also spotlights two inspiring partnership stories featuring Mr Jacky Lio from Bowtie Life Insurance Company and Mr William Law from FTLife Insurance Company Limited, through conversations with Mr William Yeung from MediConCen. Watch the video to learn more.
