OneDegree
| File:OneDegree Hong Kong Ltd.png | |
| Private | |
| ISIN | 🆔 |
| Industry | Insurance |
| Founded 📆 | 2016 |
| Founder 👔 |
|
| Headquarters 🏙️ | , |
Area served 🗺️ | |
| Products 📟 | Digital insurance platform |
| Members | |
Number of employees | |
| 🌐 Website | https://www.onedegree.hk/ |
| 📇 Address | |
| 📞 telephone | |
OneDegree Hong Kong Ltd. is a Hong Kong-based Insurtech startup that aims to create a digital insurance experience for customers. The company is amongst the first-generation companies applying for online insurance licence via Insurance Authority’s Fast Track scheme.[1]
OneDegree digitalises customers’ insurance journey by developing an end-to-end digital platform. It combines a user-friendly front-end app or website, making it easy for consumers to purchase and manage their insurance policies,[2] with a powerful back-end system that enables advanced analytics and automation of traditionally manual process across claims processing, policy management and customer service. [3] [4]
The Company has teamed up with leading providers of insurance, reinsurance and health services to pilot its technology.[5]
History[edit]
OneDegree was founded in August 2016 by Alvin Kwock Yin-lun, former JP Morgan banker, [1] and Alex Leung Te-yuan, an industry veteran in insurance and health. Hong Kong’s insurance industry is mature and established, but consumer experience continues to be time-consuming and inefficient as it remains stagnant in integrating technology. With this in mind, Kwock and Leung saw the opportunity to introduce financial technology to the industry despite high entry barriers. Seeing that digital insurance has long been effectively implemented elsewhere in the world such as the US, UK and Australia, they believe bringing it to the local market will set new insurance experience standards for insurers.
Key personnel[edit]
Alvin Kwock is the Co-Founder and CEO of OneDegree. For 11 years, he has served in multiple management positions in JP Morgan in Hong Kong and Taiwan, building award-winning teams, product innovations and technology solutions. As a financial technologist, he has previously launched AR and consumer banking technology innovations. [6] Kwock is also a current advisory board member of Kii, a global leading Internet of Things platform and mobile app supported by Cisco.
Alex Leung is the Co-Founder and Chief Insurance Officer of OneDegree. With over 10 years of experience in the insurance and healthcare sectors, [7] he has previously led large-scale projects across product, marketing, and analytic whilst serving in leadership roles at insurance technology start-ups, Collective Health and CXA, and as a consultant with World Bank and Deloitte Consulting. He also holds committee memberships in several actuarial organisations including the American Academy of Actuaries Health Practice, International Actuarial Association Health Section (IAAHS) and Society of Actuaries.
Funding[edit]
In September 2018, OneDegree announced the full subscription and execution of its Series A funding, with investors committing HK$100 million and an additional HK$100 million for future financial support. [1] The amount raised under the Cyberport Incubation Programme makes it the largest fundraising round for a pre-revenue Insurtech startup in Hong Kong. [8]
References[edit]
- ↑ 1.0 1.1 1.2 Yiu, Enoch. "Online insurance start-up OneDegree raises HK$200 million to fund push to cover Hong Kong's dogs and cats | SCMP". Retrieved 2018-09-11.
- ↑ "One Degree申保險牌 頭炮主打寵物保險 | Ming Pao". Retrieved 2018-09-11.
- ↑ Lee, Terrance. "In brief: Hong Kong insurance tech startup raises $12.7m | TechinAsia". Retrieved 2018-09-11.
- ↑ "港產保險科企A輪吸億元 | HKEJ". Retrieved 2018-09-11.
- ↑ "Hong Kong Insurtech Startups Raised HK$200 million in Series A Funding | FinTech News Hong Kong". Retrieved 2018-09-11.
- ↑ "Alvin Kwock - Co-Founder, CEO @ OneDegree | crunchbase". www.crunchbase.com. Retrieved 2018-09-11.
- ↑ "Alex Leung - Co-Founder, Chief Insurance Officer @ OneDegree | crunchbase". www.crunchbase.com. Retrieved 2018-09-11.
- ↑ Shu, Catherine (September 10, 2018). "Hong Kong-based OneDegree gets $25.5M Series A to make coverage more accessible, starting with pet insurance". TechCrunch.
External links[edit]
This article "OneDegree" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:OneDegree. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
