This week in insurance: HK’s first children’s CI coverage, Singapore hobbyists covered, Mental health claims rise in India

Markel Insurance also unveiled a Clinical Trials insurance product.

Asia-Pacific's insurance sector from 5 to 9 May saw new insurance offerings this week, breaking boundaries in the critical illness market in Hong Kong, whilst India grapples with a mental health coverage crisis.

MyRepublic, a fibre broadband provider in Singapore, has launched Geek Insurance, a specialised insurance product aimed at hobbyists, gamers, and collectors. 

Developed in collaboration with HL Assurance, the product is designed to cover high-value collectables and gaming-related items that are typically excluded or minimally covered under standard home insurance policies.

Markel Insurance unveiled its Clinical Trials insurance product, designed to support clinical research and product development across more than 100 jurisdictions.

The product offers comprehensive coverage for sponsors, researchers, and participants at all stages of clinical trials.

Hong Kong-based virtual insurer, Bowtie, launched the "Children’s Growth Term Critical Illness Insurance" plan, targeting a market gap in critical illness coverage for children and pregnant women. 

The insurer said this is a first-in-the-market product, as most existing products are whole life plans with savings components, requiring higher premiums.

Meanwhile, mental health-related insurance claims have increased by 30% to 50% over the past two to three years, according to Policybazaar. Searches for mental health coverage rose by 41% year-on-year in 2025 compared to 2024 

The rise is attributed to greater awareness, broader OPD (outpatient department) benefits, and reduced stigma, especially in urban areas. Anxiety disorders account for 30% to 35% of mental health claims, followed by depression at 25% to 30%.

On the other hand, stable Mainland Chinese Visitor (MCV) volumes to Hong Kong are constraining growth prospects for cross-border life insurance sales, according to Jefferies Equity Research.

Despite expectations for a return to pre-civil disturbance immigration volumes from the first half of 2019, recent daily immigration data indicates a plateau at levels comparable to the latter half of 2019, during the civil unrest.