Press Release

Bowtie Celebrates 2nd Anniversary as the Virtual Insurer Hits HK$20 billion in Protection to Customers

Hong Kong’s challenger insurer freezes VHIS premiums for a second year in a row and offers better benefits
Author Bowtie Team
Date 2021-09-09
Updated on 2022-03-16
Our VHIS PlansAbout Bowtie

Bowtie Life Insurance (Bowtie) celebrates its second anniversary as the virtual insurer announcing it has hit HK$20 billion in insured value in just 2 years, providing protection to over 30,000 customers across Hong Kong. While the insurance market was down by almost 40% in terms of premiums in 2020, Bowtie grew rapidly amid the pandemic, achieving an outstanding 10x growth in its insured value, as well as a 25% month-on-month sales growth.

Right from day one, Bowtie strives to be a purpose-driven insurance company to bridge the health protection gap in Hong Kong. This started with the principle of ensuring that Bowtie’s premiums fully go into protection, with no savings, no paperwork and no commissions.

Mr Fred Ngan, Co-founder and Co-CEO of Bowtie, said, “We are proud of building Bowtie from zero to 20 billion in just two years. We empower customers to access online insurance directly and instantly, making it simpler, more transparent and affordable. By leveraging modern technology, we will continue to accelerate our scale and become the top-of-mind health insurer in addressing the 6 trillion dollar protection gap1.”

As the first insurer to offer online Voluntary Health Insurance Scheme (VHIS) products, Bowtie is committed to further enhancing its products by listening to its customers and their claims experiences.

Our VHIS Plans

VHIS Plans

  • No increase in the premium rate for a second year in a row, despite a 9% medical inflation over the past year2
  • Lowest cost provider for VHIS standard plans3, saving customers over 30% every year4
  • Well designed VHIS Flexi products with a high coverage ratio of 90%5, providing a true peace of mind for our customers
  • Entire suite of supplementary products to VHIS, such as Cancer Fighter and the Bowtie & Gleneagles Hospital Wellness Package, giving customers full flexibility to complete their protection needs without bundled lock-in

VHIS Flexi Benefit Upgrade

  • Up to 33% higher coverage for Room & Board and other benefits
  • New Hospice and Palliative Care benefit to encourage quality end-of-life care, an important social topic that is still underdeveloped in Hong Kong6
  • Operating theatre charges and anesthetist’s fee upgraded to individual benefit limits per item, as opposed to a fixed cap of the surgeon

First VHIS Flexi Rider – Bowtie & Gleneagles Hospital Wellness Package

  • Full reimbursement for over 240 selected medical packages7, plus annual health check-ups and healthcare service


Mr Michael Chan, Co-founder and Co-CEO of Bowtie, said, “As a purpose-driven insurer, we stay true to our focus of delivering good, clean insurance products. The technology investments we’ve made allows Bowtie to keep its VHIS cost leader position. Our 10x growth shows that customers trust Bowtie. Our 90% coverage rate also proves that our products work for our customers. Looking back at Bowtie’s second birthday, we are particularly grateful to all our customers and partners who have trusted us. Hong Kong is facing many challenges, and we hope to be one piece of the solution in providing affordable access to quality healthcare.”

To learn more about the details, please visit:

About Bowtie

The Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer approved under the Fast Track pilot scheme. Through the use of modern technology and medical expertise, Bowtie offers an agent-free, commission-free and more convenient online platform for customers to quote, apply and claim for health insurance plans certified by the Food and Health Bureau under the Voluntary Health Insurance Scheme (VHIS) anytime anywhere. Bowtie is backed by Sun Life Financial and supported by leading international reinsurers. Stay up to date at

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