Hong Kong virtual bank ZA Bank has partnered with virtual insurer ZA Insure to offer a new "ZA Life Protection" plan, offering life insurance with what the partners claim to be the best cost performance ratio in the market. The new plan is available now in the ZA Bank app.
The ZA Life Protection plan offers the following benefits:
- Highest insured amount for life insurance: Insuring customers up to HK$10 million, it's the highest amount available from any virtual offering.
- Good value for money: The plan offers the highest cost performance ratio relative to current term life insurance products with 5-year and 10-year coverage.
- Get insured instantly: As a virtual insurer, customers can get a plan in as quickly as three minutes.
"ZA Bank’s seamless user experience and ZA Insure’s competitive ‘ZA Life Protection’ combined have formed the ‘best duo’ in finance, creating a different insurance service. This is the very first in-depth collaboration between a virtual bank and a virtual insurer in Hong Kong’s financial market. Hongkongers can now enjoy a fully-digital, integrated wealth management experience that covers savings, loans, payments, spending and insurance. We are happy that ZA International’s strategic approach in the local financial market has started to bear fruit. This marks a significant step forward in terms of facilitating Asia’s FinTech development," said Wayne Xu, president of ZA International and CEO of ZA Insure.
"Riding on the success of our innovative features including ZA Card, ZA Quest and electronic lai-see, we continue to be the ‘Game Changer’ and redefine pure life insurance products with our insurance offerings. From now on, users can access insurance products in the ZA Bank App and enjoy a one-stop virtual banking service without even leaving the house. Once again, ZA Bank has provided an all-new banking experience for users," added Rockson Hsu, CEO of ZA Bank.