Manulife Hong Kong has launched ‘Virtual Face-to-Face’ agency sales platform for all its individual insurance products in Hong Kong, except investment-linked assurance schemes.

The company is among the first wave of insurers to launch this insurtech solution in the Hong Kong market.

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The offering has been approved by the Insurance Authority through its Insurtech Sandbox, which offers a testing ground for authorised insurers’ new technology applications to be applied in business operations.

Manulife’s Virtual Face-to-Face sales solution allows customers and agents to discuss financial needs and product benefits by utilising video conferencing and screen sharing through an encrypted network.

The platform includese-signature technology tool to allow secure E-signature and document sharing.

Additionally, the platform will enable recording in real time for record-keeping, with customers’ consent.

Manulife Hong Kong CEO Damien Green said: “We’ve continued to see a strong demand for insurance products as people become more health-conscious and think of their protection needs due to the Covid-19 pandemic.

“The recent facilitative measures and Insurtech Sandbox from the Insurance Authority have created a prime opportunity for us to do the right thing for customers, breaking the short-term constraint on face-to-face meetings with a new insurtech solution. It has the potential to become a meaningful alternative to traditional in-person face-to-face meetings, for customers who want choices and greater ease and convenience.”

Manulife’s individual insurance products including life insurance, savings and retirement plans, critical illness and other medical protection are available to customers through its virtual sales platform.

The solution was developed inresponse to Insurance Authority’s announcement of temporary facilitative measures in response to the Covid-19 pandemic.