Author
Bowtie 團隊
Updated on
2026-08-27
Bowtie Life Insurance Company Limited (“Bowtie”), Hong Kong’s first virtual insurer, today announced that it will fully adopt the Hong Kong Federation of Insurers’ (“HKFI”) “Best Practice on Critical Illness Definitions Standardization.”
Effective 1 September 2026, Bowtie will not only apply the standardized critical illness definitions to new policies, but will also proactively extend the upgraded coverage to all existing customers across its entire range of Bowtie Term Critical Illness Products, with no impact on renewal premiums.
What Is HKFI’s “Best Practice on Critical Illness Definitions Standardization”?
HKFI introduced the “Best Practice on Critical Illness Definitions Standardization” to enhance transparency across the insurance industry by creating greater consistency in critical illness definitions.
Currently, critical illness products in the Hong Kong market may use different disease definitions and claim thresholds. As a result, the same medical condition may lead to different claim outcomes across insurers, potentially creating additional uncertainty for insured persons during an already stressful period.
Bowtie Extends the New Critical Illness Definitions to Existing Customers
Although HKFI’s initiative in principle applies only to new policies issued on or after 1 September 2026, Bowtie has chosen to go a step further by extending the same arrangement to existing customers.
For every covered critical illness and surgical procedure, Bowtie will adopt its “Meet-or-Better-Off” principle.
How Does the “Meet-or-Better-Off” Principle Work?
For eligible claims, Bowtie will compare:
- Bowtie’s existing policy definition; and
- HKFI’s standardized critical illness definition.
Subject to the relevant policy terms, claim requirements and necessary supporting documentation, the claim will be assessed using whichever definition is more favourable to the customer.
This means the arrangement will only maintain or expand existing coverage and will never reduce customers’ existing benefits.
End-Stage Liver Disease Example: How the New Standard Can Reduce Claim Uncertainty
Take a claim involving End-Stage Liver Disease as an example.
Suppose a patient presents with:
- ascites;
- hepatic encephalopathy;
- esophageal and gastric varices; but
- no persistent jaundice.
Under Bowtie’s Original Definition
The patient must meet all three specified conditions:
- ascites;
- hepatic encephalopathy; and
- permanent jaundice.
The claim may therefore not qualify under the original definition.
Under HKFI’s Standardized Definition
The patient only needs to satisfy three out of four specified indicators.
Under Bowtie’s “Meet-or-Better-Off” principle, the claim in this example would therefore be assessed using HKFI’s more favourable standardized definition, significantly reducing grey areas in clinical claims assessment.
Major Head Trauma: Meeting Either Assessment Standard Can Qualify
Jacky Lio, Chief Medical Officer of Bowtie, said:
“Critical illness insurance was originally designed to provide immediate financial support to insured persons at the point of diagnosis. Yet differences in disease thresholds between insurers have often left patients uncertain at a time when they can least afford it.”
Taking another common critical illness, Major Head Trauma, as an example, Bowtie’s existing definition and the HKFI standard use two different assessment approaches — one based on clinical assessment and the other based on activities of daily living.
Under Bowtie’s “Meet-or-Better-Off” principle, patients only need to satisfy one of the two standards to be eligible for a claim, helping claims outcomes better reflect patients’ actual circumstances.
Lio added:
“Unifying core definitions across the industry significantly reduces interpretation gaps between clinical diagnoses and insurance terms, allowing patients to focus on recovery without added worry.”
Bowtie Extends the Upgrade at No Extra Cost
Fred Ngan, Co-founder of Bowtie, said:
“The ‘Best Practice on Critical Illness Definitions Standardization’ shares a similar spirit with the Voluntary Health Insurance Scheme — representing another major industry milestone in boosting transparency and protecting consumer rights.”
He added that Bowtie has always upheld the principle of “paying all legitimate claims.”
“Choosing to extend these new definitions to existing customers without extra cost reflects our commitment to acting as a true safety net and delivering on our customer-first philosophy.”
What Do Existing Bowtie Critical Illness Customers Need to Do?
Bowtie will notify affected customers of the detailed amendments to the critical illness definitions by email.
Existing customers do not need to take out a new policy to benefit from the upgraded definitions, and the arrangement will not affect renewal premiums.
Customers with enquiries may:
- Call Bowtie’s customer service hotline at 3008 8123
- Visit the Bowtie Critical Illness Insurance product page for more details
About Bowtie
Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s first virtual insurer authorized by the Insurance Authority under the Fast Track pilot scheme.
Its vision is to bridge the health protection gap and transform the way people access healthcare in Asia. Through digital technology, Bowtie makes health insurance more affordable and accessible for individuals and small and medium-sized enterprises.
To date, Bowtie has raised more than HK$1.2 billion from Sun Life Financial and Mitsui & Co. and provides more than HK$150 billion in protection to families.
Learn more at Bowtie’s official website.
Related Articles
Other Topics
Blood HealthBowtie StoryBusinessCancerChinese MedicineCovidCustomer ReviewDeathcareDental HealthDigestive HealthDoctor SpecialistsDrugsEar, nose, and throatEndocrinology & DiabetesExercisingEye HealthFinanceFood & NutritionGroup Medical InsuranceHealthHealth GlossaryHeart HealthHospitalsHot TopicsImmigrationInsuranceInsurance TipsKidney HealthKids HealthlearnLiver DiseaseLung & RespiratoryMedical Check UpsMen’s HealthMental HealthNervous SystemOrthopedicsOutpatient ServicesParentingPhysiotherapyPress ReleasePrevention/VaccinationProduct PhilosophyRealtyRheumatic DiseaseSeniors HealthSkin IssueSymptomsTax FilingTreatment PlanUrologyWomen’s Health女性健康