Hong Kong's first virtual insurer? Avo Insurance officially launches with three products

Claiming to be the first general virtual insurer in Hong Kong, Avo Insurance (Avo) has officially launched in the region, Named after that millennial favourite, the avocado, its mascot is charmingly named Cado.

Avo states that it aims to create a "simple and enjoyable digital insurance experience that integrates into everyday life", hitting on the the fact that a lot of Hong Kong people do not have adequate knowledge about their insurance.

"Many people in Hong Kong are first-time insurance buyers due to the fact that they find insurance complicated or have not felt that insurance is relevant in their daily lives," says Winnie Wong, executive director and CEO of Avo.

Avo customers can go online to complete the entire insurance process, such as purchasing and managing their insurance products. Products include coverage for travel, cancer treatment, and eWallets.

Wong said that Avo is trying to come up with more insurance products to bridge the large protection gap that currently exists in Hong Kong, tapping into new customer segments through different channels. The company said as mobile payments and online transactions become increasingly common, products like eWallet insurance will become a popular offer of protection for its frequent users.

"Through technology, our team at Avo is committed to designing new insurance products that are simple, relevant, and can offer better protection for peoples' needs," Wong added.