Mox, the Hong Kong-based virtual bank backed by Standard Chartered and partners, has launched its first general insurance product, Personal Accident Cushion.
The new InsurTech offering is underwritten by QBE and aims to deliver a fully digital, end-to-end customer journey within the Mox app, according to FF News.
With flexible plans starting from HKD20/month, the policy provides up to HKD2m in coverage for accidental death or permanent disablement.
Key benefits include double indemnity for public transport incidents, 24/7 worldwide emergency assistance, and support for rehabilitation and medical expenses. Customers can sign up instantly through the app, manage their policy digitally, and cancel anytime with no hidden fees.
To encourage adoption, Mox is offering up to three months of free coverage depending on the plan selected.
“At Mox, our mission is to redefine financial services by making them safe, simple, smart and fun. With Mox Insure, we’re bringing that same philosophy to protection – offering insurance services that are truly simple, relevant and affordable. This is only made possible with fully end-to-end digital insurance experience that is capable of delivering truly premium service through an intuitive customer journey.” said Barbaros Uygun, CEO of Mox.
Lei Yu, CEO of QBE North Asia, said, “Our partnership with Mox directly addresses the modern Hong Kong consumer’s desire for on-demand, accessible solutions. It underscores QBE’s commitment to fostering innovation within Hong Kong’s dynamic financial ecosystem. Together, we’re poised to unlock significant potential in the local digital economy, making vital protection more accessible and straightforward in their daily lives.”
“We listened closely to the people of Hong Kong and designed Personal Accident Cushion to meet their specific needs and concerns – like accidental medical expense, rehabilitation, and family support during recovery” added Uygun. “The result is protection that’s easy to understand, easy to afford, and easy to claim. It is insurance made for real life.”
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