AXA to deliver embedded insurance products in collaboration with Ant Bank and Alipay

This offering includes solutions for savings, health protection, and wealth accumulation. The partnership aims to address the diverse needs of customers in wealth management and protection, supporting them in achieving their financial goals.

This partnership will utilise AXA's expertise and extensive insurance portfolio, along with Ant Bank and AlipayHK's "E-wallet X Digital Bank" model, to deliver embedded insurance products and services powered by advanced technology. It aims to provide a broader range of customers with all-round wealth management products and services, while ensuring a simpler, smoother, and more secure insurance application experience. In the first phase, AXA's flagship life and savings products, including the popular "FortuneXtra Savings Plan", "Wealth Ultra Savings Plan", "Max Wealth Insurance Plan", and "Max Goal Insurance Plan", will be introduced on Ant Bank and its Mini App in the AlipayHK App, offering all-round wealth management and protection plans to a wide range of users. AXA will gradually integrate additional insurance product categories, further deepening the collaboration among the three parties as well as providing more comprehensive products and services for individuals and businesses within the year, fully addressing their protection needs.

Ant Bank is a subsidiary of Ant International that provides financial products and services, including funds and wealth management, insurance products and services. AlipayHK is a Super App that serves over 4.2 million residents in Hong Kong. Supported by Ant International's Alipay+ Wallet Tech, AlipayHK has partnered with Ant Bank to develop Open Banking, and has taken the lead to launch innovative services and products such as Ant Bank PayLater and "eM+" -- a high-interest savings account and low-threshold fund purchasing, offering users a new financial services experience.

Sally Wan, Chief Executive Officer, AXA Greater China, said, "AXA has consistently been proactive in developing diverse distribution channels and expanding our customer base, striving to provide comprehensive and diversified wealth management and protection solutions to a broader range of customers. We are honoured to become a strategic partner of Ant Bank and AlipayHK, leveraging synergies to create new opportunities and achieve multiple benefits for all parties. We look forward to further deepening the integration of our services with Ant Bank and AlipayHK, strengthening the insurance ecosystem, and jointly expanding our long-term business and customer network."

Yvonne Leung, Chief Executive, Ant Bank (Hong Kong), said, "As a leading digital bank in Hong Kong, we are committed to driving innovation in financial services through technology. This collaboration builds on our successful partnership with AlipayHK in areas such as payments, interest-earning balances, Buy Now Pay Later, and funds, among others, while further integrating AXA's insurance services into the digital ecosystem."

Venetia Lee, Chief Executive Officer, AlipayHK, said, "AlipayHK serves every aspect of Hong Kong people's lives, and it has become a trend for Hong Kong people to access financial services through the Super App. Financial institutions can leverage the platform technology provided by AlipayHK to deliver new experiences to users, making wealth management and insurance services more user-friendly and simpler. We focus on 'Tech' to empower financial institutions in excelling at 'Fin'. AlipayHK and Ant International look forward to continuing our collaboration with AXA and banking partners to explore the new ecosystem of embedded insurance, driving the inclusive progress of financial services in Hong Kong and Asia."

AXA is one of the most diversified insurers in Hong Kong which offers integrated solutions across Life, Health and General Insurance and is the largest General Insurance provider and a major Health and Employee Benefits provider. Through this collaboration, we believe that the three parties, leveraging an advanced financial technology platform, will integrate insurance products into the digital ecosystem, marking a milestone in exploring new avenues for growth.