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New Generation of Insurance

In 2017, the Hong Kong Insurance Authority launched the virtual insurance license scheme and opened up unprecedented possibilities for the industry. Before this, a group of actuaries quit their comfortable jobs to become outsiders and really focus on how the industry could finally be modernized and truly serve its original noble purposes. 

After rigorous examination of our financial resources, management expertise and technological capabilities, Bowtie was approved by the Insurance Authority on December 2018 to become Hong Kong's first virtual insurer.

Bowtie believes that Insurance is Fundamentally Good. We are here to bring the Good back, through Modern Technology.

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Bowtie Team

Real Insurance.

Insurance is fundamentally good, but the current system is backward. Instead of serving its original purpose of providing protection, far too many insurance products in Hong Kong are designed with savings or investments in mind and complex fine print. Bowtie believes insurance should be protection-focused, transparent and truly customer-centric.

Zero commission is only the first step. By eliminating paper and simplifying the insurance experience, Bowtie's mission is to deliver real insurance that is tailored to each and every customer.

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The Team

Fred Ngan

Co-Founder / Co-CEO / Director

Mr. Fred Ngan is responsible for the company’s sales, marketing and business strategy.

Fred is a serial entrepreneur with a passion for disruptive innovations while making social impact. He believes insurance is fundamentally good and healthcare protection should be accessible for everyone. He is an actuary with over 14 years of insurance experience in Hong Kong, Canada, the United States, and the United Kingdom.

Michael Chan

Co-Founder / Co-CEO / Director

Mr. Michael Chan leads Bowtie’s strategy and product development, driving to save customers’ time and money.

Michael is a firm believer in the power of technology to simplify the insurance experience, making insurance transparent and truly customer-centric. Under his vision and leadership, the team is dedicated to bringing insurance back to its noble purposes – providing protection.

Gabriel Kung

Chief Commercial Officer

Mr. Gabriel Kung is responsible for bringing Bowtie’s vision and commercial strategy to life, as well as driving continued growth.

Gabriel was previously the Director of Digital Commerce of a multinational insurer and led the change in creating the first online life insurance platform in Hong Kong, as well as implementing multiple InsurTech initiatives in the telematics, digital wallet, big data and business automation areas across SEA markets.

Alan Lam

Chief Risk Officer

Mr. Alan Lam leads the risk management and actuarial functions and acts as the gatekeeper, making sure products are fair and customer-centric.

With over 10 years of insurance experience in Hong Kong and Canada, Alan saw the significant potential for digitalization within the insurance industry. He aspires to build a next-generation insurance company with a strong culture rooted in technology, data analytics, and risk management. Alan is an experienced actuary who previously led the asset liability management function and distribution initiative teams for a multinational insurer.

Jacky Lio

MRCP (UK), MBBS (Lond.)
Chief Medical Officer

Dr. Jacky Lio plays a crucial role in driving collaborative partnerships with healthcare providers and setting the vision for Bowtie's customer health experiences.

Trained in the UK as a Specialist in Acute Medicine and with over 10 years of service in the NHS, Jacky passionately believes in the universal need for basic healthcare protection. Jacky brings his medical knowledge to shape Bowtie’s products to ensure they are relevant, affordable, and accessible – helping it achieve its mission to address the health protection gap in Hong Kong.

John Tsang

Senior Advisor

Mr. John Tsang shares his strategic insights with the management and helps bring its mission of addressing the health insurance gap in Hong Kong to life. John is passionate about challenging the traditional insurance model and bringing more to the community with insurance that is made simple and affordable through technology.

John is the former Financial Secretary of the HKSAR Government from 2007 to 2017. He is currently the Founder of Esperanza, a non-profit organization, the Host of a weekly music program on Commercial Radio and a fencing coach at La Salle College.

Daisuke Iwase

Senior Advisor

Mr. Daisuke Iwase is a pioneer and leader in digital innovation in the insurance sector. He shares strategic insights on insurtech sector, helping to strengthen Bowtie's foothold as a leading virtual insurer in Asia.

He co-founded Lifenet Insurance Company, a publicly listed online life insurance company where he served as Representative Director and President. And he started his career as a strategy consultant with the Boston Consulting Group and was engaged in technology venture capital and private equity.

Elaine Chan

Health Advisor

Ms. Elaine Chan is a leader in health which provides advisory services specialize in the insurance sector, served as a member of Food and Health Bureau VHIS Consultative Group and board member of Institute for Health Policy and System Research.

With almost 30 years of experience, her prior capacity include: co-opted member of Working Group on Regulation of Private Hospitals, Working Group of Primary Healthcare and Medical Insurance Association Chairlady of Hong Kong Federation of Insurers for 4 years.

Clement Lam

Chairman of the Board / Non-Executive Director

Mr. Clement Lam is the Chief Executive Officer at Sun Life Hong Kong Limited. Clement has over 15 years of experience in multiple leadership roles at Sun Life’s regional office, where he led product actuary and product innovation, and spearheaded the development of Telco-Assurance business.  He builds on Sun Life’s well established life operations platform and expand its health & accident portfolios.

Clement holds a Bachelor of Mathematics in Honors Mathematics (Distinction) and is also a Fellow Member of the Society of Actuaries (FSA) and the Canadian Institute of Actuaries (Canada).

Vincent Tsang


Mr. Vincent Tsang has over 35 years of experience in actuarial consulting in Hong Kong and the United States. He was Executive Director at one of the Big Four for more than 10 years assisting numerous clients to implement valuation systems and best practices.

Vincent holds a Doctor in Philosophy from the University of Michigan and is a Fellow of the Society of Actuaries (FSA), a Chartered Financial Analyst (CFA), and a Member of the American Academy of Actuaries (MAAA).

Dustin Walper


Mr. Dustin Walper is an entrepreneur who is currently a Director of Newton, a cryptocurrency trading company in Canada. Dustin was a Founder Member of both fintech and healthtech companies like Myplanet and Akira MD. He has spent over 10 years as a leader of technology companies and led product design, medical and fintech development.

“While digital technology is on the rise, we believe the current system is backward and needs change. Hong Kong desperately needs a challenger insurer to rethink what insurance should be – truly customer-centric, transparent and commission-free.”

Fred Ngan

Fred Ngan

Bowtie Co-CEO

“As a real Hong Kong start-up, Bowtie is all about delivering convenience through technology. This is exciting because we get to reinvent the very structure of an insurance company, designing around the bureaucracy plaguing everyone and replacing it with modern technology.”

Michael Chan

Michael Chan

Bowtie Co-CEO

Join the Revolution

The Co-Founders and Co-CEOs of Bowtie, Fred and Michael, are home-grown serial entrepreneurs who left their comfortable actuarial roles at global advisory firms in the United States to start two successful insurtech start-ups in Hong Kong prior to founding Bowtie.

Inspired by the founders' vision, Bowtie has attracted talent from both local and Silicon Valley tech startups, as well as former C-level executives from international insurance companies to drive industry change.