Author
Bowtie Team
Updated on
2025-12-29
Disclaimer: This article is translated with the assistance of AI.
In recent years, online insurance has surged in popularity. What do LIHKG’s savvy users think? Is a no-agent model like Bowtie trustworthy? Dive in for the inside scoop from the forums!
Question 1: Is It Time to Switch to Online Health Insurance When Your Agent Changes Jobs?
A user shared that she originally got her health insurance through a friend who worked as an Agent (insurance agent) years ago. The service for following up on her policy was top-notch, but lately, her friend switched careers and is now only handling it part-time. She figures now could be the perfect moment to switch to online insurers like Bowtie, since claiming benefits online is a breeze and jumping to VHIS comes with handy tax deductions.
Truth be told, her idea is spot on—switching to pure online insurance like Bowtie has more perks than you might expect, such as:
No Intermediaries
Since these insurance companies don’t use intermediaries, you won’t have to pay intermediary commissions , letting you get the coverage you need at a lower price. Plus, without the lure of commissions, the customer service teams at online insurers can offer unbiased recommendations that truly fit your needs.
Convenient and Quick Application
With online insurers, you can submit your application anytime, anywhere, without the hassle of scheduling a meeting with an intermediary. The process from application to approval is much faster than traditional methods—it used to take 2–3 weeks, but now it can be done in a flash. Take Bowtie, for example, you could wrap it up in as little as 10 minutes!
Claims Are Easier and Quicker Than You Think
Customers can simply submit their forms and required documents via the online platform to kick off the claim process. For instance, with Bowtie, the average claim approval time* is just 4.4 working days ; and the overall claim approval success rate^ is an impressive 99.53%!
- * As of March 2024, the average claim processing time for Bowtie cases is 4.4 working days. Processing times may vary based on the complexity of the case, waiting for medical reports, or other supplementary documents.
- ^ As of February 24, 2024, this includes the claim approval success rate for all Bowtie insurance products, including group health plans.
Question 2: Does an Online Insurance Agent Still Serve a Purpose?
A user posted, questioning the role of agents since insurance can be bought online.
Indeed, pure online insurance operates smoothly without intermediaries for aspects like policy applications, approvals, claims, and management, offering products such as medical, life, critical illness, and accident insurance. However, dismissing agents entirely might be a bit hasty.
Since its inception, Bowtie has believed that online (pure digital insurance) and offline (through agents) sales models can, and will, coexist. While online channels handle simpler consumer products like VHIS and term life insurance, more complex ones—such as savings insurance, investment-linked life insurance, and deferred annuities—still require agents or financial planners to provide in-depth explanations and advice. In the long run, insurance intermediaries’ services will become even more specialized.
Question 3: Is It Reliable Buying from Non-Traditional Online Insurer Like Bowtie?
A user said when considering critical illness and medical insurance, friends recommend Bowtie. But because Bowtie isn’t a traditional mainstream insurer, he lacks confidence. It’s true that Bowtie has only been around for about six years, but being a new company doesn’t mean it lacks strength.
Bowtie received Hong Kong’s first virtual insurance license from the Insurance Authority in 2019, which shows the regulator’s endorsement. Like traditional major insurers, our daily operations and financial status are under strict scrutiny by the Insurance Authority. After issuing policies, we mitigate risks through reinsurance, so clients can buy with complete peace of mind.
Beyond regulatory approval and a solid reinsurance framework, Bowtie is backed by strong investors, including Sun Life Financial, which has stood strong in Hong Kong for over 130 years, and the globally renowned trading firm Mitsui & Co.
In fact, over the past five years, Bowtie has provided a total of HK$90 billion in death and health risk coverage for clients (as of May 2024), and we’ve handled over 70,000 claims. Hopefully, these facts will boost confidence.
Question 4: Is Online the Best Way to Buy Medical and Critical Illness Insurance for Kids?
A user wants to get critical illness and medical insurance for his kids. He already has a savings critical illness policy with a 25-year premium term and 20-year payout period, and he’s thinking of adding another critical illness policy but is undecided on whether it needs a savings component. He asked for opinions. Another user suggested that online medical insurance is sufficient without an agent.
The benefits of pure online insurance are well-known. For his case, the Bowtie team thinks that since he already has a long-term savings critical illness policy, unless he must use insurance for savings, he should consider a non-savings term critical illness insurance to get coverage for his kids at a lower premium.
As for medical insurance, if the kids don’t have any existing coverage, a no-deductible VHIS plan could be a cost-effective option that still provides solid protection.
Below is a premium reference for Bowtie VHIS Flexi Plus and Bowtie Term CI Early Stage and Multiple Cover for newborns (assuming age 0).
| Insurance Product | Coverage Amount ($) | Boy Monthly Premium ($) | Girl Monthly Premium ($) |
| Bowtie VHIS Flexi Plus | 1,000,000 / year
(Semi-private room level) |
739 | 680 |
| Bowtie Term CI Early Stage and Multiple Cover | 1,000,000 | 96 | 99 |
| Combined Premium | 835 | 779 | |
By the way, due to medical inflation and uncertainties in claims, most indemnity-based medical insurance on the market doesn’t include a savings component and requires annual renewal.
Question 5: Can High-End Medical Insurance Be Purchased Online?
A user is curious about which insurance companies offer their high-end voluntary health insurance plans that you can buy directly online without an agent. The good news is, several insurers are already accepting online applications for these premium plans. We at Bowtie believe this trend is here to stay, with more companies likely to roll out online options soon. They’ll keep enhancing coverage, boosting protection levels, and throwing in occasional deals to make it even better for savvy consumers like you.
Seizing this moment, the Bowtie team is sharing the monthly premiums for our high-end voluntary health insurance — Bowtie Pink Voluntary Health Insurance (same rates for men and women; non-smokers) for your reference:
| Age | Bowtie Pink (Ward)
(HK$20,000 Deductible) |
Bowtie Pink (Semi-Private)
(HK$20,000 Deductible) |
| 20 | $273 | $308 |
| 30 | $347 | $475 |
| 40 | $482 | $577 |
| 50 | $754 | $865 |
| 60 | $1,274 | $1,435 |
Sources
- 1 Should I switch from agent to online insurance for medical insurance? – LIHKG
- 2 Why still need agents if I can buy insurance online? – LIHKG
- 3 Is it better to buy insurance myself or through an agent? – LIHKG
- 4 Seeking advice on buying insurance for my children? – LIHKG
- 5 Which high-end medical insurance can I buy online without an agent? – LIHKG
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