Not enough Hong Kongers go for life insurances with protection value

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Read next: COVID-19 deals blow to Hong Kong life insurance market in 2020

In fact, the Insurance Authority revealed that 59% opt for investment-linked policies with high savings value.

This is a stark contrast to the cheaper term life insurance. Since it does not have any savings or investment features, only 0.9% of insurance premiums paid for such products in 2019, even though investment-liked insurance is 20 times more expensive than term life insurance.

Many of those who cannot afford investment-linked policies don’t go for insurance compensation at all. Thus, the Insurance Authority report said Hong Kong faces a mortality

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Zurich links up with UNICEF to promote mental well-being

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The partnership between Z Zurich Foundation and UNICEF aims to benefit 400,000 adolescents and 150,000 caregivers in seven countries by equipping them with information, skills, and strategies on caring for their and others’ mental well-being.

The Z Zurich Foundation will also support a global communication campaign that aims to reach 30 million people and promote positive conversations and connections that increase awareness, knowledge, and action around mental well-being.

Commenting on the partnership, Z Zurich Foundation chair Gary Shaughnessy said: “Today, we are launching a global movement that envisions a world where every young person is supported to achieve positive mental

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GCash partners with Igloo to provide online shopping insurance for users

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GCash has launched an online shopping insurance with Singapore-based insurtech Igloo to add another layer of protection for its customer base of 46 million.

The surge in online transactions is apparent amid the Philippines’ prolonged lockdown. GCash has over 13 million log-ins daily, peaking at almost 15 million users in the second quarter of 2021. The app is expected to hit PHP 3 trillion in gross transactions soon –thrice its performance last year.

Its spike in success compelled the Philippines’ leading e-wallet provider to provide better security for each transaction made in the app regardless of the marketplace.

“This comes

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Beazley unveils group head of strategy

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Beazley has announced the appointment of Rachel Turk as group head of strategy. Turk (pictured) will join the company’s executive committee effective immediately. Previously, she held the role of head of corporate development.

Turk joined Beazley in 2009 as a D&O underwriter in specialty lines. She became focus group leader in 2015 and was appointed head of corporate development in 2019. Prior to joining Beazley, Turk held equity and finance analyst roles. She is a qualified chartered accountant. Turk sits on the board of the Lloyd’s Market Association.

“This is a very well-deserved promotion,” said Adrian Cox, CEO of Beazley.

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