As the demand for contactless insurance sales increases amid the pandemic, Manulife Hong Kong is set to launch a ‘virtual face-to-face’ agency sales platform for all individual insurance products except investment-linked assurance schemes, from 15 June.
The insurer is among the first wave of insurers approved to introduce such a platform in Hong Kong.
The platform is a new InsurTech solution approved by the Insurance Authority (IA) through its ‘Insurtech Sandbox’ which provides a testing ground for authorised insurers’ new technology applications to be applied in business operations.
It was developed following the IA’s announcement of temporary facilitative measures in response to the COVID-19 pandemic – which allows customers to purchase certain insurance products without attending a physical meeting with an insurance agent.
The platform enables both new and existing customers to meet virtually with Manulife’s agents via a secure video conference and purchase a wide range of individual insurance products.
The sales process requires no physical meeting or signatures as e-signatures and document sharing will be conducted securely using a technology tool.
To protect the interests of all involved parties, the platform will also enable recording in real time for record-keeping with the consent of customers.