HONG KONG SAR - 25 July 2024 - Blue, Hong Kong’s first digital life insurer, set sail today. The insurer announced the launch of an insurance broker channel with a goal to partner with over 100 quality brokers in 2 years to provide diversified insurance products and comprehensive service experience to customers with different needs at different stages of life. Blue provides its broker channel with a unique insurance product series, special offers, and an innovative “Blue ConnectEasy” broker platform. The first product to be sold on Blue’s broker channel is a brand-new 25-year participating life insurance plan “WeWealth GoWealth Generator” that is designed to meet customers’ long-term wealth accumulation needs.
Mr. Charles Hung, CEO and Executive Director of Blue, said, “Blue always puts customers first. We are committed to providing customers with simple, flexible, and valuable insurance products. We understand that people have different needs at different stages of life. In view of this, providing diverse products and service experiences better cater to customers’ practical needs. Leveraging innovative technology, we launched a broker channel to introduce thoughtful insurance products that meet customers’ needs. In the long run, Blue will benefit from the online-offline dual channels in terms of expanding customer base, attracting new customers, and promoting complex insurance plans with comprehensive and caring services to our customers.”
Developing a broker channel with innovative technology
To accelerate the development of the broker channel, Blue unveiled a brand-new “Blue ConnectEasy” broker platform which harnessed innovative technology. It provides comprehensive 7x24 online support, enabling brokers to generate proposals, get a quote, check underwriting status, review policy information, track performance, handle administrative tasks, and analyze data at any time and anywhere. It not only eliminates the hassle of paper forms but also increases enrolment efficiency, thereby reaching the goal of data protection. Blue looks forward to working closely with the broker partners to achieve a “win-win” situation.
Strengthening long-term competitiveness
Since its establishment in 2018, Blue has continued to deliver impressive performance. In the first half of 2024, its Number of Policies (NOP) surged 101% compared with the same period in 2023. Its Annualized First Year Premiums (AFYP) for savings product in the second quarter grew by 80% compared with the first quarter this year. Blue expected that the new broker channel would drive the growth of its revenue premium and market share, hence strengthening its long-term competitiveness.
Debut a 25-year participating life insurance plan
The first product to be sold on the broker channel is a brand-new 25-year participating life insurance plan - “WeWealth GoWealth Generator”. It meets the needs of appreciating long-term wealth, building education funds for kids, or preparing for retirement for customers. The main features of the product include:
-> Fast breakeven: Fast breakeven in 2 years. Enjoy 25-year wealth accumulation with a 2-year premium payment
-> Guaranteed Return: Average Annual Guaranteed Rate of Return can reach as high as 4.03% for the first 5 years
-> Potential Earnings: Average Annual Total Rate of Return of up to 5.07% at the policy maturity
-> Additional Protection: Additional Accidental Death Benefit within the first 5 policy years in addition to life protection
-> Hassle-free Application: No need to submit any medical reports or conduct any health check-up
For more product details, terms and conditions of “WeWealth GoWealth Generator”, please visit Blue’s website: www.blue.com.hk
The issuer is solely responsible for the content of this announcement.
