Generali Hong Kong and ZA Bank commence bancassurance partnership
The agreement is fully in line with the “Lifetime Partner 24: Driving Growth” strategy, which confirms Generali as a customer-focused and data-driven innovator and includes € 1.1 billion of investments in digital technology
Generali Hong Kong1 and ZA Bank, Hong Kong's main virtual bank, announced the commencement of their bancassurance partnership. It is the first of its kind in Hong Kong between a well-established global insurer and a leading virtual bank in the city, with the common goal being to excel in financial innovation and customer empowerment.
The agreement is fully in line with the Lifetime Partner 24: Driving Growth strategy, which confirms Generali as a customer-focused and data-driven innovator. In particular, within the “Lead innovation” strategic pillar, investments in digital technology will total € 1.1 billion.
Life insurance products issued by Generali Hong Kong will be offered on the ZA Bank App, providing holistic and innovative protection that cover different stages of a customer's life.
The collaboration presents a digitally engaged journey which combines the convenience and accessibility of the ZA Bank App and the professionalism and human touch of Generali Hong Kong insurance advisors.
From accessing product details, scheduling a meeting with appointed insurance advisors to settling payments and reviewing policy documents, every step of the in-app experience aims to be seamless and ensures a personalized and user-friendly interaction.
The first phase of the launch includes five Life products covering: critical illness, savings, retirement, Qualifying Deferred Annuity Policy, and life protection with return of premium.
Davide Glavina, Chief Executive Officer2 of Generali Life (Hong Kong) Limited and General Manager of Assicurazioni Generali S.p.A – Hong Kong Branch, said: “The partnership is part of Generali’s commitment to develop bancassurance distribution as a driver of sustainable growth. We aim to be a lifetime partner to our customers and have been pioneering innovative insurance solutions to meet their evolving needs. The partnership with virtual bank ZA Bank allows Generali to combine our legacy of knowledge with ZA's expertise in fintech, devising unique offerings for customers.”
Notes:
[1] Generali Hong Kong refers to Assicurazioni Generali S.p.A – Hong Kong Branch and Generali Life (Hong Kong) Limited
[2] The appointment of Davide Glavina as Chief Executive Officer of Generali Life (Hong Kong) Limited remains subject to regulatory approval