NASDAQ-listed MoneyHero Ltd, a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, announced Tuesday the launch of its end-to-end car insurance purchasing journey in Hong Kong.

In collaboration with global insurtech bolttech, this innovative enhancement enables customers to compare and receive real-time insurance quotes while seamlessly completing their entire car insurance purchase directly on MoneyHero’s platform—an industry milestone in Hong Kong.

By integrating bolttech’s advanced insurance exchange technology, MoneyHero ensures accuracy, efficiency, and a fast, hassle-free experience for customers. This launch marks a major advancement for MoneyHero, building on its initial strategic partnership with bolttech previously announced on Oct 8, 2024, which introduced real-time car insurance pricing comparisons.

Hong Kong’s motor vehicle business recorded gross written premiums of over HK$5 billion1, with insurance penetration in Hong Kong reaching 17.2 percent in 20232 — offering a compelling opportunity for transformation through data-driven, embedded distribution.

The introduction of this fully integrated car insurance journey aligns with MoneyHero’s strategic pillars of leading the insurance brokerage and enhancing its conversion expertise.

MoneyHero’s platform has already demonstrated impressive results with travel insurance, achieving conversion rates up to two times higher due to its seamless end-to-end purchasing model. MoneyHero anticipates similar success with car insurance, which will drive increased sales for insurers and contribute to robust revenue growth.

MoneyHero’s insurance business has emerged as a significant growth driver, with revenues from this vertical increasing by 54 percent year-over-year in the first nine months of 2024. The Company expects full-year 2024 growth in its insurance business surpassing its Q3 level of 9.5 percent of its group revenue, driven by the expansion of end-to-end purchasing journeys across multiple insurance categories.

This enhancement builds on the success of MoneyHero’s travel insurance platform, which has experienced strong adoption and improved conversion rates due to its streamlined purchasing process. In the upcoming quarters, the Company plans to further enhance insurance purchasing experience across other markets and product lines, ensuring the Company remains at the forefront of innovation in the industry.

Rohith Murthy, CEO of MoneyHero, said, “With this launch in Hong Kong, we are not only streamlining the car insurance shopping process—we are fully embracing the entire purchasing journey. Our data indicates that end-to-end insurance transactions yield significantly higher conversion rates, and we anticipate strong adoption in Hong Kong.

Philip Weiner, CEO for Asia and Middle East of bolttech added, “Our insurance exchange platform will enable them to deliver a more intuitive and transparent user experience, enhancing the overall car insurance purchasing journey for consumers in Hong Kong. Together with MoneyHero, we look forward to bringing more value-added services to consumers.”

#Insurtech #DigitalTransformation #CarInsurance #FintechInnovation #UserExperience