AXA Hong Kong and Macau, the Asia-based division of global insurer AXA Group, is partnering with Ant Bank in Hong Kong and AlipayHK to provide a suite of insurance products and services to millions of active AlipayHK users through Ant Bank and the AlipayHK App.
Through the new partnership, AXA, Ant Bank and AlipayHK plan to address the diverse needs of Hong Kong-based customers in wealth management and protection, supporting them in achieving their financial goals, by offering them all-round wealth management products and services. The offering includes solutions for savings, health protection, and wealth accumulation.
This partnership will utilise AXA’s expertise and insurance portfolio, alongside Ant Bank and AlipayHK’s ‘E-wallet X Digital Bank’ model, to deliver embedded insurance products and services powered by advanced technology.
In the first phase, AXA’s flagship life and savings products, including the popular “FortuneXtra Savings Plan”, ‘Wealth Ultra Savings Plan’, ‘Max Wealth Insurance Plan’, and ‘Max Goal Insurance Plan’, will be introduced on Ant Bank and its mini app in the AlipayHK App, offering all-round wealth management and protection plans to a wide range of users.
AXA plans to gradually integrate additional insurance product categories, further deepening the collaboration between the three parties, as well as providing more comprehensive products and services for individuals and businesses within the year, fully addressing their protection needs.
“AXA has consistently been proactive in developing diverse distribution channels and expanding our customer base, striving to provide comprehensive and diversified wealth management and protection solutions to a broader range of customers,” explained Sally Wan, CEO of AXA Greater China. “We look forward to further deepening the integration of our services with Ant Bank and AlipayHK, strengthening the insurance ecosystem, and jointly expanding our long-term business and customer network.”
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Ant Bank provides financial products and services, including funds and wealth management, insurance products and services. AlipayHK is a super app that serves over 4.2 million residents in Hong Kong.
“AlipayHK serves every aspect of Hong Kong people’s lives, and it has become a trend for Hong Kong people to access financial services through the super app,” said Venetia Lee, CEO of AlipayHK. “Financial institutions can leverage the platform technology provided by AlipayHK to deliver new experiences to users, making wealth management and insurance services more user-friendly and simpler.”
Supported by Ant International’s Alipay+ wallet tech, AlipayHK has partnered with Ant Bank to develop open banking, and has taken the lead to launch innovative services and products such as Ant Bank PayLater and ‘eM+’ – a high-interest savings account and low-threshold fund purchasing, offering users a new financial services experience.
Yvonne Leung, chief executive at Ant Bank Hong Kong, also added: “This collaboration builds on our successful partnership with AlipayHK in areas such as payments, interest-earning balances, Buy Now Pay Later, and funds, among others, while further integrating AXA’s insurance services into the digital ecosystem.”
Through this collaboration, AXA says the three parties plan to integrate insurance products into the digital ecosystem, marking a milestone in exploring new avenues for growth.
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