Clement Cheung, Chief Executive Officer of the IA, remarked that

“Given the rapidly evolving market landscape, financial regulators must navigate in a balanced and enlightened manner to promote inclusive and responsible innovation. Seen in this context, Federated Learning plays a useful role in enabling cross-sector data collaboration without compromising personal privacy.”

In his keynote address, Cheung outlined several initiatives led by the IA to enhance operational resilience and support the adoption of advanced technologies.

These include the Open API Framework, the Cyber Resilience Assessment Framework, the AI Cohort Programme, and the new Whitepaper on Federated Learning.

Additionally, the Insurtech Forum, co-hosted by the IA and InvestHK, featured panel discussions on how innovation is transforming marketing strategies, corporate culture, and customer experience within the insurance industry.

Featured image credit: Insurance Authority

The post Insurance Authority Stresses Balanced Regulation, Innovation at Fintech Week appeared first on Fintech Hong Kong.

The company, which seeks to integrate life insurance with digital assets, has drawn significant interest from international investors.

The round was led by Yunfeng Financial Group, with participation from a range of strategic and financial investors specialising in insurance, asset management, and fintech innovation.

The funding marks a key milestone in Anthea’s effort to modernise life insurance for the digital economy.

The investment will support the launch of Anthea’s first life insurance product denominated in ETH, as well as ongoing operations, product development, and market expansion across Asia.

“This funding round is more than capital, it is a strategic alignment with partners who share our vision for the future of insurance,”

said Alex Pei, CEO of Anthea.

“The past few years have seen the rise of regulated and consumer-centric products and institutions in the digital asset space; it is now time to bring the right combination of innovation and protection to the market. We are delighted to welcome investors with decades of experience in traditional finance and a shared appetite for innovation.”

The new funding will strengthen Anthea’s efforts to incorporate global life insurance best practices into the digital asset ecosystem.

The company plans to enhance integration with blockchain-based payment infrastructure, enable yield generation, and pursue further technological development aimed at creating a seamless insurance experience for both digital asset holders and traditional investors seeking regulated exposure to the sector.

Featured image credit: Edited by Fintech News Hong Kong, based on image by freepik

The post Anthea Raises US$22M for ETH-Denominated Life Insurance Launch appeared first on Fintech Hong Kong.

The rollout marks a key step in Asia Insurance’s ongoing digital transformation, streamlining the customer journey from digital quotation to claims processing.

Through CoverGo’s flexible, API-driven platform, partner agents can collect customer data efficiently during the sales process, while Asia Insurance’s teams can manage applications through the Admin Portal.

Policyholders can also access a digital-first experience via the Member Portal, where they can submit and track health claims online with greater ease and transparency.

The platform enables Asia Insurance to introduce customised health products quickly, expand digital distribution, reduce operational costs through automation, and enhance the experience for both customers and partners.

“Digital transformation is a key priority for Asia Insurance, and our collaboration with CoverGo is a major milestone in that journey,”

said Winnie Wong, CEO of Asia Insurance.

“The platform allows us to be more agile in product delivery, more efficient operationally, and most importantly, more responsive to the evolving needs of our customers and distributors.”

Tomas Holub, CEO of CoverGo, added:

“By leveraging our next-gen platform, Asia Insurance is able to launch products faster, streamline operations, and offer a seamless user experience to customers and intermediaries alike.”

The launch strengthens CoverGo’s role as a technology provider for insurers seeking to modernise legacy systems and deliver digital experiences at scale.

Featured image credit: Asia Insurance

The post Asia Insurance Goes Live with CoverGo’s Digital Health Insurance Platform appeared first on Fintech Hong Kong.

The collaboration seeks to integrate banking and insurance services, aiming to create greater value for customers through joint initiatives.

As part of this partnership, PAObank has introduced its first joint programme with CPAIHK, which includes a set of customer offers.

The initiative reflects PAObank’s approach of combining financial services with additional protection benefits, supported by what the bank refers to as its “insurance DNA.”

Ronald Iu, Chief Executive of PAObank, said:

“As a member of Ping An, PAObank is committed to integrating insurance into our banking services. Each company within the Group carries unique strengths, enabling us to create a ‘1+1>2’ experience for our customers. This collaboration with CPAIHK is just the first step in our strategic blueprint, aiming to build an integrated insurance and banking ecosystem where customers can fulfil their financial needs within a single app.”

Kelvin Cheung, Managing Director of CPAIHK, added:

“CPAIHK consistently leverages the Group’s integrated financial platform to deliver warm financial services. We are delighted to deepen our collaboration with PAObank, integrating insurance and banking services to provide our customers with superior wealth management and protection solutions.”

To mark the anniversary, PAObank is offering incentives that combine banking services with insurance coverage.

Customers who complete a series of account-related activities by September 30 can qualify for cash rewards.

In addition, new eligible retail banking customers who open an account using the referral code 【PAOBPR】 will receive travel insurance provided by CPAIHK, as well as preferential time deposit rates.

CPAIHK customers who open a PAObank account are eligible for enhanced rates.

Featured image credit: Edited by Fintech News Hong Kong, based on image by rawpixel.com via Freepik

The post PAObank Partners with CPAIHK to Integrate Banking and Insurance Services appeared first on Fintech Hong Kong.

He will report directly to Raymond Young, Chief Distribution Officer.

In this role, Fung will be responsible for developing and implementing sales strategies to support the growth of Bupa’s group insurance business, with a particular emphasis on intermediary and partnership channels.

He will oversee the Channel Services New Business team, Client Management team and Partnerships team in delivering Bupa’s Connected Care model, in line with the company’s strategy to strengthen healthcare and wellbeing provision in Hong Kong.

Fung has more than 15 years’ experience in the insurance sector, with a background in sales, distribution and employee benefits.

His leadership and knowledge of the industry are expected to play a key role in supporting Bupa’s clients and partners.

He holds a Bachelor of Science degree from California State University – East Bay.

Featured image credit: Edited by Fintech News Hong Kong, based on image by mrsiraphol via Freepik

The post Bupa HK Appoints Albert Fung as Director of Group Business & Partnerships appeared first on Fintech Hong Kong.

Under the arrangement, every TADA journey in the city will include real time, trip specific insurance cover without the need for riders to opt in.

The insurance activates when a journey begins and remains in place until the rider reaches the destination.

Sean Kim, Group Chief Operating Officer of MVLLABS and Chief Executive of TADA, said the move reflects the company’s priorities:

“Safety and trust define the rider experience. By seamlessly integrating YAS’s protection engine, every rider in Hong Kong can ride with the confidence that protection is there throughout the journey.”

The expansion takes place during a period of growth in the Asia Pacific ride hailing sector.

In 2024, the regional market was valued at around US$44.06 billion, with forecasts suggesting an annual compound growth rate of 11% through to 2031.

Globally, the industry is expected to increase from about US$181.7 billion in 2025 to US$441.2 billion by 2032, at a compound annual growth rate of 13.5%.

The Hong Kong launch combines TADA’s zero commission model with YAS’s insurance technology.

TADA’s approach allows drivers to retain more of their earnings while offering riders transparent fares.

YAS provides a blockchain based, AI powered insurance system capable of issuing and settling policies in real time.

According to both companies, the collaboration aims to strengthen safety, efficiency and trust within the service.

“This is not just protection, it is an experience revolution,”

said Andy Ann, Co Founder and Chief Executive of YAS.

“We are embedding insurance at the moment it is needed, making it invisible yet indispensable. In Hong Kong, where trust is earned through action, this is not just an upgrade, it is a new standard.”

Hong Kong’s density, reliance on digital services and shifting consumer expectations have often made it a testing ground for new technologies.

For riders, the service offers both transport and insurance cover.

For drivers, it provides higher earning potential and added protection.

For the industry, it illustrates how ride hailing is evolving towards models that prioritise trust, transparency and value creation across the ecosystem.

Featured image credit: Edited by Fintech News Hong Kong, based on image by freepik

The post TADA Launches Ride Hailing Service in HK with Built In Insurance appeared first on Fintech Hong Kong.

This upward trend is expected to continue, as financial institutions maintain strong investment in technology and increasingly embrace innovations such as artificial intelligence (AI) and distributed ledger technology (DLT).

Regtech adoption in Hong Kong reached 97% in 2025, making it one of the most mature fintech verticals in Hong Kong. This near-universal adoption reflects the strategic importance institutions are placing on leveraging technology to enhance risk management while reducing operational costs, amid a shifting regulatory landscape.

Within regtech, the strongest growth 2022 to 2025 was seen in governance and accountability, conduct and customer protection, and risk management, where adoption grew by 116%, 42% and 37%, respectively.

Insurtech also saw significant gains, with adoption rising from 28% to 57% between 2022 and 2025. This represents the largest increase among fintech categories. In Hong Kong, at least one-third of retail banks have already implemented insurtech, according to HKMA. It is expected that all retail banks will have adopted insurtech to support their bancassurance services by the end of 2025.

Greentech also made significant progress, with adoption growing from 26% to 45% between 2022 and 2025. This reflects growing institutional focus on sustainable finance and climate risk management.

Finally, wealthtech adoption rose from 43% to 52% during the same period, underscoring the sector’s ongoing investment in enhancing investment services through digital platforms and automated advisory solutions. This growth is being driven by rising customer expectations for more sophisticated digital wealth management offerings.

AI and DLT drive innovation

Booming adoption of fintech in the financial services industry is accompanied by increased implementation of AI and DLT. In 2025, AI usage climbed to 75%, up from 59% in 2022, while DLT adoption rose from 30% to 45%.

Many institutions are moving from experimentation to operational implementation. In May 2025, Citigroup introduced Citi AI, a suite of AI tools for its employees in Hong Kong. The tools support internal operations including information retrieval from Citi’s policy library, document summarization and creation of electronic communications drafts among others.

That same month, HSBC launched its Tokenised Deposit Service for corporate clients in Hong Kong, claiming the first bank-led blockchain-based settlement service in the city. In its initial phase, the service supports treasury management with real-time HKD and USD payments between corporate wallets, as well as tokenization use cases settlements.

Future growth outlook

Looking ahead, AI and DLT are expected to continue driving innovation across all fintech domains. For example, in wealthtech and regtech, approximately 80% of anticipated use cases that will reach advanced maturity levels or higher are expected to be supported by AI and DLT. For greentech, this proportion is estimated to reach about 70% of advanced use cases, while in insurtech, around 60% of advanced implementations are expected to incorporate AI and DLT.

This momentum is backed by strong financial commitment. 95% of financial institutions plan to maintain or increase their fintech investments over the next three years, with half anticipating budget growth of 10% to 20%.

Financial institutions are also adoption a more strategic approach to technology spending. On average, 43% of technology budgets are allocated to in-house solution development, 30% to vendor partnerships, and 21% to critical support activities. This suggests a more balanced approach, underscoring growing recognition that successful digital transformation requires both new capabilities and robust operational foundations.

Persistent challenges

Despite progress, institutions face increasingly complex challenges. High implementation costs was cited by 75% of respondents as a primary concern, particularly for technologies requiring significant infrastructure investments or specialized expertise. Other major concerns include risks tied to new technologies (73%), such as cybersecurity, operational disruptions, and regulatory compliance issues, as well as challenges relating to integrating new technologies with existing systems (71%), as institutions must navigate complex technical environments while maintaining operational continuity.

HKMA’s Tech Maturity Stock-take study, conducted in January 2025, covers 56 submissions from authorized institutions. It examines both the quantitative progress in technology progress and the qualitative aspects of implementation maturity, aiming to provide insights into the evolution of fintech in the banking sector over the past few years and the challenges that lie ahead.

Featured image: Edited by Fintech News Hong Kong, based on images by pvproductions and TravelScape via Freepik

The post Fintech Adoption Surges Among Hong Kong Financial Institutions appeared first on Fintech Hong Kong.

The initiative aims to offer SMEs a more streamlined and accessible means of obtaining commercial insurance coverage.

The platform brings together insurance products from several established insurers, including cybersecurity insurance from MSIG Mingtai Insurance, public liability insurance for businesses and property management committees from Hotai Insurance, and event liability insurance from Union Insurance.

Delivered through IXT’s Launchpad platform, the collaboration allows for the digital handling of traditionally manual processes such as quoting and policy issuance.

One notable feature is the integration of MSIG Mingtai’s cybersecurity insurance with Cymetrics, a cybersecurity risk assessment provider also under AIFT.

SMEs are able to submit their domain information for analysis through Cymetrics’ EASM risk platform.

Insurance premiums are then calculated based on risk scores derived from this assessment, providing a more data-driven approach to cyber insurance.

Michelle Ip, CEO of AIFT Enterprise, said:

“Our goal is to fundamentally transform the insurance experience, including commercial insurance, through our innovative solutions. With the Launchpad platform, we’ve not only digitised cumbersome insurance processes, but also established a powerful policy management system and rapid product update mechanism. This enables SMEs to complete their insurance purchase and enjoy protection seamlessly.”

Kevin Kuo, General Manager of Richmond Insurance Brokers, added:

“Commercial insurance has long been one of the most difficult areas to digitise. This partnership with AIFT allows us to offer our clients an unprecedented insurance purchasing experience. Especially for SMEs, being able to quickly and intuitively access the coverage they need greatly enhances both service efficiency and customer satisfaction.”

The partnership reflects ongoing efforts to support digital innovation in Taiwan’s insurance sector and marks a step forward in improving accessibility to commercial insurance services for local businesses.

Featured image credit: AIFT

The post IXT and Richmond Insurance Brokers Launch Taiwan’s First Digital Commercial Insurance Platform appeared first on Fintech Hong Kong.

The ZhongAn H share placement is said to be the company’s first equity financing since its IPO in 2017, a move which will help the company enhance its growth strategy.

A total of 215 million new H shares have been issued at HK$18.25 per share, representing approximately 12.76% of ZhongAn’s enlarged share capital. The net proceeds from the Zhong An H share placement will be put to use to strengthen the company’s capital base, which will in turn enhance its business development.

60% of the net proceeds will be utilised for ZhongAn’s insurance underwriting and asset management businesses, 30% will be put to use towards investing in fintech innovations, and the remaining 10% will be allocated for general corporate purposes.

The board of ZhongAn has stated that this capital infusion will empower the company’s dual-engine strategy, which involves driving its core insurance growth while scaling tech-driven solutions.

Featured image by freepik on Freepik

The post ZhongAn Online Completes US$500M H Share Placement to Fuel Core Insurance Growth appeared first on Fintech Hong Kong.

In the interview, co-founder Alvin Kwock Yin-lun said that OneDegree is seeking further growth in the Middle East. The company has already insured 20 of the 34 firms licensed by Dubai’s Virtual Assets Regulatory Authority, including digital asset exchanges, as well as custody services and trading providers.

OneDegree had reported no claims, losses, or incidents among its clients after launching its products, which were aligned with United Arab Emirates (UAE) regulations, including professional indemnity insurance and directors and officers insurance, Kwock added.

He credited the company’s success to its cybersecurity technology and comprehensive underwriting framework.

Kwock continued, saying that OneDegree is working on new offerings, such as insurance for mining risks and smart contract wallets.

The company teamed up with Dubai Insurance in 2023 to provide coverage for digital asset businesses in the region. According to Kwock, Dubai Insurance, one of the UAE’s oldest insurers, has made two investments in OneDegree over the past two years, though the amounts were not disclosed.

In 2024, OneDegree grew its global reinsurance footprint by securing a partnership with Walaa Cooperative Insurance in Saudi Arabia.

Looking beyond the UAE and Saudi Arabia, the company said it is exploring opportunities in Qatar, Bahrain, Kuwait, and Oman, viewing the Middle East as a strategic gateway to Africa and Europe.

Featured image: Edited by Fintech News Hong Kong, based on image by vwalakte via Freepik

The post OneDegree Eyes Global Growth With Middle East, Europe and Africa Next appeared first on Fintech Hong Kong.