Bowtie

The business operates on a direct-to-consumer model, eliminating agent commissions and providing 'pure protection' products without savings or investment components. This approach allows Bowtie to offer more competitively priced premiums. Revenue is generated through the sale of these insurance policies. Its primary market is Hong Kong, where it targets individuals, families, and small to medium-sized enterprises. By May 2024, the company was serving approximately 140,000 customers. The business model has proven popular with a younger demographic in their mid-30s, as well as professionals in the financial services industry.

Bowtie's core products include medical insurance under the Voluntary Health Insurance Scheme (VHIS), term life insurance, critical illness coverage, cancer insurance, and accident insurance. The VHIS plans are the company's flagship offering. For businesses, Bowtie provides group medical insurance and wellness solutions. The entire customer journey, from quoting and application to claims, is handled online through its digital platform. To complement its digital presence, Bowtie has established physical locations, including the Bowtie & JP Health center and Bow Coffee in Wan Chai, for customer service and consultations.

Co-founders Fred Ngan and Michael Chan both have backgrounds as actuaries and serial entrepreneurs, having previously co-founded Coherent Capital Advisors and Seasonalife. Their experience in the insurance industry informed their mission to challenge the traditional, commission-based model. The company has secured significant funding from major investors, including Sun Life Financial and Mitsui & Co. It raised US$30 million in a Series A round in 2018, US$22.6 million in a Series B round in October 2021, and up to US$70 million in a Series C round in July 2025. Keywords: virtual insurer, digital insurance, health insurance, life insurance, VHIS, insurtech, Hong Kong, commission-free insurance, term life, critical illness insurance, online insurance platform, medical protection, direct-to-consumer, group medical insurance, accident insurance, cancer insurance, preventive healthcare, financial protection, employee benefits, digital health