Zurich Hong Kong life subsidiary granted licence

Zurich life will launch two plans and two digital platforms.

Zurich Hong Kong has announced that its new local subsidiary Zurich Life Insurance (Hong Kong) has been granted a life insurer’s license by the Hong Kong Insurance Authority. 

Zurich Life will launch an Investment-Linked Assurance Scheme (ILAS) and the Swiss Protect Term Insurance Plan (Swiss Protect). The ILAS product supports customers’ wealth succession wishes and legacy goals by allowing the change of policyholder and life insured. 

Meanwhile, Swiss Protect focuses on safeguarding customers with life protection at a premium that will remain unchanged within the term, the insurer said.

In addition, Zurich Life will be introducing two new digital platforms, MyZurich Life and ZOOM, to connect with customers and independent financial advisers (IFAs). MyZurich Life is a self-service online platform that allows customers to access and manage their life insurance policies around the clock. 

Using the platform, customers may view their policies, review policy status, check premium payment records, as well as evaluate their latest investment portfolio, and process switching instructions. 

ZOOM is a mobile application specially developed for IFAs and brokers, allowing them to perform financial and risk assessments and formulate proposals for customers.