Bowtie Hong Kong: An Entrepreneurial Venture to Digitize Insurance
商品編號：W32456
出版日期：2023/11/20
再版日期：
商品來源：
商品主題：Entrepreneurship; General Management/Strategy
商品類型：Case (Field)
涵蓋議題：insurtech industry;fintech;digital insurance;market positioning;pricing;competitors;product design;funding;modes of expansion;traditional insurance industry;digital insurance products;market inefficiencies;regulatory developments;COVID-19 pandemic;insurance company's revenues;product expansion;geographies for expansion;niche strategy
難易度：4 - Undergraduate/MBA
內容長度：20 頁
地域：Hong Kong
產業：Finance and Insurance
事件年度：2022
Bowtie Life Insurance Company Limited (Bowtie) was the first virtual insurance company licensed by the Hong Kong Insurance Authority. Since obtaining the licence in 2018 and raising two successful rounds of venture capital, Bowtie had developed into a reasonable size, of about a hundred employees, by early 2022. Bowtie was focused on developing and selling medical insurance products under the Voluntary Health Insurance Scheme (VHIS), while also selling term life insurance. The founders’ intention is to bring cheaper, more user-friendly insurance products directly to the mass market through online channels, while disrupting the traditional insurance industry by eliminating agents and brokers. The COVID-19 pandemic in 2020–2022 brought both opportunities and risks to the virtual insurance sector. While online purchases increased significantly during this period, the overall gloomy macroeconomic outlook put downward pressure on insurtech, fintech industries, and the venture capital that funded them. With Hong Kong’s mortality rates soaring, Bowtie had to consider the effects of the pandemic on its profitability and determine its future strategy. While continuing to focus on the VHIS segment, how should Bowtie expand into other product segments? When and how should the company expand to Mainland China and/or other neighbouring markets outside of Hong Kong?
教學手冊：Bowtie Hong Kong: An Entrepreneurial Venture to Digitize Insurance - Teaching Note
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