AXA Hong Kong and Macau, Ant Bank (Hong Kong) and AlipayHK announced a strategic partnership on Wednesday, in a move that would see AXA provide a slew of insurance products to AlipayHK users through Ant Bank and the AlipayHK app.

In the partnership, AXA will offer solutions for savings, health protection and wealth accumulation that will be available to millions of AlipayHK users, helping to support their financial goals.

The move taps on 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.

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 (Hong Kong) 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 to provide more comprehensive products and services for individuals and businesses within the year.

“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,” said Sally Wan, CEO of AXA Greater China

“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,” Wan said.

Venetia Lee, CEO of AlipayHK, said that AlipayHK serves every aspect of Hong Kong people’s lives and that financial institutions could leverage the platform technology provided by AlipayHK to make wealth management and insurance services more user-friendly and simpler.

“It has become a trend for Hong Kong people to access financial services through the Super App,” Lee said.

The Alipay+ Super App Platform by Ant International supports AlipayHK and other regional ewallet partners to provide more comprehensive service offerings. Possible service offerings via the Super App Platform include entertainment, lifestyle and transport services, as well as wealth management offerings. The adoption of Artificial Intelligence (AI) assistants also allows the super app platform to greatly enhance the user experience including answering their search queries.

Yvonne Leung, CEO of Ant Bank, said that Ant Bank is 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,” she said.

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