Bowtie Life Insurance

Bowtie Life Insurance is an online insurance company based in Hong Kong.[1][2][3]

History

Bowtie Life Insurance was founded by Fred Ngan and Michael Chan.[4][5]

In 2018, Bowtie raised HK$234 million (US$30 million) in Series A funding, with investors including the Sequoia-associated HK X-Technology Fund and Sun Life Insurance.[6][7][8] In December 2018, Bowtie received a license as a virtual insurance company from the Insurance Authority of Hong Kong, becoming the first virtual insurance company in Hong Kong.[9][10] The following year, Bowtie began providing life insurance products.[4]

In March 2021, Bowtie established a public café, Bow Coffee, in Wan Chai, in order to have a place for discussion on insurance policies.[5][11]

In July 2021, with the help of JP Partners Medical, Bowtie opened a service centre in Wan Chai.[12] In October 2021, Bowtie raised US$22.6 million from multiple investors, including Mitsui and Co.[11][12]

As of 2024, Bowtie has provided US$11.5 billion worth of life and medical protection insurance in Hong Kong since its inception.[13]

References

1. Chew, Seen Meng; Thomas, Hugh; Yeh, Jason (20 November 2023). "Bowtie Hong Kong: An Entrepreneurial Venture to Digitize Insurance". Ivey Publishing.
2. "Hong Kong's first licensed digital insurer Bowtie raises $30m". Financial Times.
3. "Bowtie Life Insurance Profile". Bloomberg.com.
4. Yiu, Enoch (December 20, 2018). "Meet Bowtie, Hong Kong's first approved online-only insurer". South China Morning Post.
5. Yiu, Enoch (March 12, 2021). "'Latte with your life cover?' Virtual insurer opens coffee shop in Hong Kong". South China Morning Post.
6. Russell, Jon (December 20, 2018). "Bowtie raises $30M to bring the digital insurance model to Hong Kong". TechCrunch.
7. Atifi, Nur (20 December 2018). "Hong Kong insurtech nabs $30m in series A funding led by Sun Life". Tech in Asia.
8. "Hong Kong issues 1st digital-only insurance license to startup Bowtie Life". S&P Global.
9. "Hong Kong gives first online-only insurance license". Reuters.
10. "Bowtie Life Insurance Company Limited | HKTDC Belt and Road Portal".
11. Yiu, Enoch (December 5, 2021). "Hong Kong's digital insurers target tech-savvy clients, but no match for traditional firms". South China Morning Post.
12. Yiu, Enoch (October 19, 2021). "Bowtie raises US$22.6 million in Series B funding, led by Mitsui". South China Morning Post.
13. Yiu, Enoch (30 May 2024). "More Hongkongers buying policies from digital insurers, with lots of room left for growth, Bowtie boss says". South China Morning Post.