MGA Model Evolution in Asia
OneDegree is a HK based in start-up, launched is 1st insurance
product in April 2020
Case study on OneDegree
Overview
> Offices in Hongkong,
> Founded in 2016
> Focuses on home-
grown online pet
insurance, personal-
line general insurance
and health insurance
for customers through
an online insurance
platform
TC TechCrunch
> Offered insurance
cover to more than half
a million dogs and cats
in Hongkong.
> First to receive a virtual
insurance license
Key success factors
Target the unique market demand and develop creative
insurance product
> Targeting 510,000 dogs and cats in Hognkong, its pet insurance is designed to
cover veterinary bills and other expenses, with premiums ranging from a few
hundred dollars to several thousand. (launched in 15th April, 2020)
Roland
Berger
OneDegree
Paws up for pet
insurance
Technology Capability to make it easy for both customers and insurers
> Get a quote, buy a policy, and make claims easily from customers' laptop or mobile phone; 90% of
claims approved will be paid in 2 working days.
> Its end-to-end digital platform is easily customizable and is designed to seamlessly integrate into any
insurance company's existing system
> Obtains virtual insurance license to become the first TechInsurer
Partnerships with leading insurers and reinsurers
> Partnership with Cigna HK, as its online distribution platform to
get access to China market
> Working with two global giants in the reinsurance space, Munich
Re and Scor Re, to make sure customer' money is protected.
Munich RE
Cigna.
SCOR
The Art & Science of Risk
Source: Desktop research, Roland Berger
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