HONG KONG SAR, 25 July 2024 — Blue, Hong Kong’s pioneering digital life insurer, has officially launched its broker channel today, aiming to collaborate with over 100 high-quality insurance brokers within the next two years. This strategic move is designed to offer a diverse range of insurance products and deliver a comprehensive service experience tailored to clients at various life stages.
The new initiative features a distinctive series of insurance products, exclusive offers, and an innovative platform named “Blue ConnectEasy.” The inaugural product available through this broker channel is the “WeWealth GoWealth Generator,” a 25-year participating life insurance plan created to address long-term wealth accumulation needs.
Charles Hung, CEO of Blue, Outlines Vision
Charles Hung, CEO and Executive Director of Blue, emphasized the company’s commitment to customer-centric service. “At Blue, our priority is to offer simple, flexible, and valuable insurance solutions. We recognize that people’s needs evolve over time, which is why we’re introducing a diverse range of products and service experiences. Our new broker channel, supported by cutting-edge technology, is designed to meet these needs effectively,” said Hung. He added that the integration of online and offline channels will enhance customer acquisition, broaden the customer base, and facilitate the promotion of complex insurance plans.
Introducing the “Blue ConnectEasy” Platform
In an effort to streamline operations and improve broker efficiency, Blue has launched the “Blue ConnectEasy” platform. This state-of-the-art system provides 24/7 online support, allowing brokers to generate proposals, obtain quotes, track underwriting status, review policy details, and manage administrative tasks seamlessly. By eliminating paper forms and increasing enrollment efficiency, the platform aims to enhance data protection and overall operational effectiveness.
Strengthening Market Position
Since its inception in 2018, Blue has demonstrated strong performance, with a notable 101% increase in the number of policies (NOP) during the first half of 2024 compared to the same period last year. The company’s Annualized First Year Premiums (AFYP) for savings products also saw a significant 80% growth in the second quarter compared to the first. Blue anticipates that the new broker channel will further bolster its revenue, market share, and long-term competitiveness.
Launch of the “WeWealth GoWealth Generator”
The first product to be offered through the new broker channel is the “WeWealth GoWealth Generator,” a 25-year participating life insurance plan designed for long-term wealth growth, education funding, and retirement preparation. Key features of this plan include:
- Fast Breakeven: Achieve breakeven within 2 years with a 25-year wealth accumulation period and a 2-year premium payment.
- Guaranteed Return: An average annual guaranteed return rate of up to 4.03% for the first 5 years.
- Potential Earnings: An average annual total return rate of up to 5.07% at policy maturity.
- Additional Protection: Includes an accidental death benefit within the first 5 years, in addition to life protection.
- Hassle-Free Application: No medical reports or health check-ups required.
