HONG KONG, April 1, 2019 – Bowtie, Hong Kong’s first virtual insurer, has named John Tsang as its Senior Advisor. Mr Tsang will be advising on Bowtie on its business strategy and how it can make a positive impact on Hong Kong’s insurance industry.
Hong Kong-born and raised, Mr Tsang was Hong Kong’s longest-ever serving Financial Secretary, holding office for a decade from 2007 until 2017. While he was Financial Secretary, Mr Tsang helped support innovation through spending US$560 million on expanding the Hong Kong Science Park, and launching a US$260 million Innovation Technology Venture Fund.
Fred Ngan, Co-founder and Co-CEO said, “It’s a great honour to have John join our journey. We share the belief that insurance serves an important social purpose. By working together, we hope to bring this mission to life and bring real protection to everyone in Hong Kong.”
Michael Chan, Co-founder and Co-CEO added, “John has years of experience in financial
development and is passionate about how modern technology and the ‘maker’ mentality can help make the world a better place. We look forward to working closely with John to build products that truly serve the Hong Kong people.”
Mr Tsang said, “The Bowtie team is full of entrepreneurial spirit and passion needed to transform the insurance industry. As technology continues to rise, I believe the insurance market needs a new force like Bowtie to bring basic medical protection to every Hong Kong citizen.”
This announcement is ahead of Bowtie’s VHIS launch on April 3rd.
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. Built with modern technology and medical expertise, Bowtie’s platform will offer health insurance plans under the Voluntary Health Insurance Scheme (VHIS) to customers directly. Bowtie is backed by Sun Life Financial and supported by leading international reinsurers. Stay up to date at www.bowtie.com.hk.