Virtual Insurance vs. Traditional Insurance

Bowtie is an authorised life insurance company and HongKong’s very first virtual insurer approved by the Insurance Authority. Here’s how Bowtie compares to traditional insurance companies.

Virtual Insurer

Traditional Insurer

Regulatory Requirements

Same

Products

Protection-focused

Savings-focused

Sales channels

Online

Insurance Intermediaries (Agent, Broker, Bank)

Insurance Intermediary Sales Commission

Commission-free

Deducted from Premiums

Underwriting & Claims

Online

By Mail or through Insurance Intermediary

Customer Service

Provided by Customer Service Officers

Provided by Insurance Intermediary

Application Processing Time

As fast as 10 minutes

Between 3 days to 3 weeks or more

Payment Mode

Monthly

Monthly, Annually or Single Payment

Contract Period

Pay-as-you-go basis and no surrender fees

1 year to 20 years

Capital Requirement

Same

Why You Should Choose Bowtie

Get More with Modern Tech

We rebuilt an insurance company from scratch and replaced everything with technology. As a result, we’re able to maximise protection value for our customers.

No Strings Attached

Our policies are on a pay-as-you-go basis. If you decide to terminate your policy, we won’t charge any surrender fees.

World-class Risk Management

Backed by Sun Life Financial and leading international reinsurers, Bowtie adheres to the regulatory capital requirements to sustain along-term and stable insurance company.