CoverGo’s solution to better manage holders’ insurance policies
Insurance app claims over 1,000 users in Hong Kong have already registered since its launch in February, and now it’s expanding into Malaysia and Taiwan.
Hong Kong ranks among the world’s highest, when it comes to insurance premiums per capita.
But the city is still lacking when it come to insurance technology (so-called “insurtech”) to help make the industry more efficient, says Tomas Holub, the creator of the app CoverGo, who wants to change all that.
CoverGo allows users to package their existing insurance policies into a “digital insurance wallet”, he says, allowing them to better-manage the policies they own, and highlight areas in which they might lack cover. They can also obtain information about policies they are considering buying.
“Hong Kong’s a natural market. People spend a lot on insurance policies and you don’t have to explain to them why insurance is important,” said Holub, CoverGo’s chief executive and founder.
“It’s a very developed insurance market – but in terms of insurance technology, it is still behind Europe and the US.”
