BOCG Insurance launches medical insurance with Wesurance DTX

Wesurance is a global technology enabler that provides insurers with faster and innovative solutions to run their digital businesses. We are excited to announce the launch of BOCG Insurance's suite of digital medical insurance products that use our Wesurance DTX solution.

Bank of China Group Insurance Company has been at the forefront of the Hong Kong general insurance market and has taken on the challenge of broadening its distribution channels and diversifying its products.

According to BOCG Insurance, the ongoing pandemic is making consumer behaviour more complicated, as consumers are migrating into virtual worlds at an unprecedented rate. As health consciousness continues to grow, BOCG Insurance recognises the need for flexible protection options and a variety of product options that can be purchased online.

Our Wesurance DTX platform solution is designed to enable rapid new product launches and enhance customer lifetime value.

Due to the rising trend of insurtech solutions that offer speed and agility in product delivery, BOCG Insurance chose Wesurance DTX to be their delivery partner as part of its long-term digital strategy. Furthermore, Wesurance DTX's out-of-the-box solution offers flexibility in product development and low-cost delivery without requiring substantial financial investments or mobilizing business and IT teams during product development.

Commenting on the launch of BOCG Insurance's digital medical insurance products, Eddie Chang, CEO and founder of Wesurance, said:

We believe that technology can bring insurers closer to customers. The new architectural approach we are using to innovate product development cycles could enable insurers to bring added value to their customers.

Selecting Wesurance as its product delivery partner, Yung Chi Ho, Samuel, the General Manager of E-Finance Dept from Bank of China Group Insurance Co. Ltd says:

"It's always enjoyable working with Wesurance's team. We are always on the same wavelength during the development phase, no matter the barriers we encountered, the team always come up with something new in helping us better serve our customer. "

Now BOCG Insurance's digital medical insurance allows customers to choose from four insurance products and receive a quote instantly. In addition, customers can also buy medical insurance more easily for their family members at the same time by using the shopping cart function and receiving a discount for each additional family member. The new release products can also automatically renew, meaning customers have a greater amount of control and flexibility over medical insurance benefits.

About Bank of China Group Insurance:

Bank of China Group Insurance Company Limited (BOCG Insurance), incorporated on 23 July 1992 in Hong Kong, is a wholly owned subsidiary of Bank of China Limited since the end of 2003. Over the years, BOCG Insurance has steadily expanded its business through extensive sales network, strong expertise and solid financial position. The Company currently has four branches, one subsidiary and three affiliates. The business scopes and service areas of BOCG Insurance have been expanding continuously for more than 20 years.

The Company holds the operation licenses for all 17 types of general insurance authorized by the Insurance Authority of Hong Kong, with a full range of insurance products. And their business covers in mainland China, Macao, Taiwan and other overseas regions, which ranked among the top insurance companies in Hong Kong’s general insurance market for years. The Company is rated ‘A-’ with a rating outlook of ‘stable’ by A.M. Best.

About Wesurance:

Wesurance's technology offers insurers a cost-effective and innovative way to run their business. Our plug-in platform enables insurers to build and deliver insurance products in accordance with their digital strategy. Wesurance helps insurers overcome technology limits that prevent them from implementing business initiatives by lowering the cost of development.

By integrating our out-of-the-box solutions with their distribution and delivery initiatives, insurers can increase operational efficiency and streamline operations for employees, distribution partners, and customers while reducing costs. As a result, Wesurance believes the industry is looking at the end-to-end customer journey and taking care of customer relationships to focus on what matters, simplify infrastructure management, and save IT resources for the most important business priorities.

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