Mox Bank Limited has entered Hong Kong’s insurance sector after securing an Insurance Agency License from the local Insurance Authority (IA).
QBE has maintained a presence in Hong Kong for over 100 years.
The collaboration aims to integrate general insurance offerings into Mox’s digital banking ecosystem.
The first product, “Personal Accident Cushion,” is underwritten by QBE and is accessible directly through the Mox app.
The launch reflects a broader trend toward digitalisation in the region’s financial services sector.
Mox Insure is designed to deliver a fully digital insurance journey, from application to claims.
According to Mox Bank’s CEO Barbaros Uygun (pictured left), the initiative is intended to make insurance more accessible and straightforward for customers by leveraging technology.
“With Mox Insure, we’re bringing that same philosophy to protection – offering insurance services that are truly simple, relevant, and affordable. This is only made possible with fully end-to-end digital insurance experience that is capable of delivering truly premium service through an intuitive customer journey,” he said.
QBE North Asia CEO Lei Yu (pictured right) commented that the partnership is a response to changing consumer preferences, particularly the demand for accessible and flexible insurance solutions.
“Our partnership with Mox directly addresses the modern Hong Kong consumer’s desire for on-demand, accessible solutions. It underscores QBE’s commitment to fostering innovation within Hong Kong’s dynamic financial ecosystem. Together, we’re poised to unlock significant potential in the local digital economy, making vital protection more accessible and straightforward in their daily lives,” she said.
The Personal Accident Cushion product is available in three tiers:
Coverage extends up to HK$2 million for accidental death or permanent disablement, with enhanced benefits for incidents occurring during public transport travel.
The product features a single premium rate, with no additional fees or age-related adjustments, and allows policyholders to cancel at any time.
All policy management, including claims, is handled through the Mox app.
Additional benefits include global emergency assistance, rehabilitation support, accidental medical expense reimbursement, and coverage for permanent disablement and parental care.
Uygun said that the product was shaped by feedback from Hong Kong residents, with particular attention to needs such as medical expenses following accidents, rehabilitation, and family support during recovery.
“We listened closely to the people of Hong Kong and designed Personal Accident Cushion to meet their specific needs and concerns – like accidental medical expense, rehabilitation, and family support during recovery,” he said. “The result is protection that’s easy to understand, easy to afford, and easy to claim. It is insurance made for real life.”
To encourage uptake, Mox is offering up to three months of complimentary coverage for new policyholders.
Customers selecting the Basic plan receive three months of free protection, while those choosing the Value or Max plans receive a cash rebate equivalent to the first month’s premium if they maintain their policy for three months.
Mox Insure has indicated plans to broaden its insurance offerings in the future, aiming to introduce additional products that reflect the evolving needs of consumers in Hong Kong and the wider region.
The introduction of Mox Insure coincides with new data from the IA, which reported total gross premiums of HK$220.3 billion for the first quarter of 2025.
The figures highlight continued activity and shifts in both long-term and general insurance markets, influenced by changing consumer demand and regulatory developments.
