MoneyHero Offers End-to-End Car Insurance Purchase Journey in Hong Kong through Strategic Partnership with bolttech
MoneyHero (NASDAQ: MNY) has launched an end-to-end car insurance purchasing platform in Hong Kong through a strategic partnership with bolttech. The enhanced platform enables customers to compare real-time quotes, customize coverage, and purchase policies instantly without third-party redirection.
The platform builds on their October 2024 partnership with bolttech, integrating advanced insurance exchange technology. Hong Kong's motor vehicle business recorded gross written premiums exceeding HK$5 billion, with insurance penetration reaching 17.2% in 2023.
MoneyHero's insurance business showed strong growth, with revenues increasing 54% year-over-year in the first nine months of 2024. The insurance vertical represented 9.5% of group revenue in Q3 2024. The company's travel insurance platform has already achieved conversion rates up to two times higher through its end-to-end purchasing model, and similar success is anticipated for car insurance.
MoneyHero (NASDAQ: MNY) ha lanciato a Hong Kong una piattaforma completa per l'acquisto di assicurazioni auto, grazie a una partnership strategica con bolttech. La piattaforma avanzata consente ai clienti di confrontare preventivi in tempo reale, personalizzare la copertura e acquistare polizze istantaneamente senza essere reindirizzati a terzi.
La piattaforma si basa sulla collaborazione avviata nell'ottobre 2024 con bolttech, integrando una tecnologia avanzata di scambio assicurativo. Nel 2023, il settore assicurativo dei veicoli a motore a Hong Kong ha registrato premi lordi superiori a 5 miliardi di HK$, con una penetrazione assicurativa del 17,2%.
Il ramo assicurativo di MoneyHero ha mostrato una forte crescita, con ricavi in aumento del 54% su base annua nei primi nove mesi del 2024. Nel terzo trimestre 2024, il settore assicurativo ha rappresentato il 9,5% dei ricavi del gruppo. La piattaforma di assicurazioni viaggio dell’azienda ha già raggiunto tassi di conversione fino a due volte superiori grazie al modello di acquisto end-to-end, e si prevede un successo analogo per l’assicurazione auto.
MoneyHero (NASDAQ: MNY) ha lanzado en Hong Kong una plataforma integral para la compra de seguros de automóvil, mediante una alianza estratégica con bolttech. La plataforma mejorada permite a los clientes comparar cotizaciones en tiempo real, personalizar la cobertura y adquirir pólizas al instante sin redirección a terceros.
La plataforma se basa en la asociación iniciada en octubre de 2024 con bolttech, integrando tecnología avanzada de intercambio de seguros. En 2023, el negocio de vehículos motorizados en Hong Kong registró primas brutas suscritas superiores a 5 mil millones de HK$, con una penetración de seguros del 17,2%.
El negocio de seguros de MoneyHero mostró un fuerte crecimiento, con ingresos que aumentaron un 54% interanual en los primeros nueve meses de 2024. En el tercer trimestre de 2024, el sector de seguros representó el 9,5% de los ingresos del grupo. La plataforma de seguros de viaje de la compañía ya ha logrado tasas de conversión hasta dos veces mayores gracias a su modelo de compra integral, y se espera un éxito similar para el seguro de automóvil.
MoneyHero (NASDAQ: MNY)는 bolttech와의 전략적 파트너십을 통해 홍콩에서 자동차 보험 구매를 위한 종합 플랫폼을 출시했습니다. 향상된 플랫폼은 고객이 실시간 견적을 비교하고, 보장을 맞춤 설정하며, 제3자 리디렉션 없이 즉시 보험을 구매할 수 있게 합니다.
이 플랫폼은 2024년 10월 bolttech와의 파트너십을 기반으로 하며, 첨단 보험 교환 기술을 통합하고 있습니다. 2023년 홍콩의 자동차 보험 시장은 총 보험료 50억 홍콩 달러를 초과했으며, 보험 침투율은 17.2%에 달했습니다.
MoneyHero의 보험 사업은 2024년 첫 9개월 동안 전년 대비 54%의 매출 성장을 기록하며 강한 성장세를 보였습니다. 2024년 3분기 보험 부문은 그룹 매출의 9.5%를 차지했습니다. 회사의 여행 보험 플랫폼은 종합 구매 모델을 통해 최대 2배 높은 전환율을 달성했으며, 자동차 보험에서도 유사한 성공이 기대됩니다.
MoneyHero (NASDAQ : MNY) a lancé à Hong Kong une plateforme complète d’achat d’assurances auto via un partenariat stratégique avec bolttech. Cette plateforme améliorée permet aux clients de comparer des devis en temps réel, de personnaliser leur couverture et d’acheter des polices instantanément sans redirection vers des tiers.
La plateforme s’appuie sur leur partenariat d’octobre 2024 avec bolttech, intégrant une technologie avancée d’échange d’assurances. En 2023, le marché des véhicules à moteur à Hong Kong a enregistré des primes brutes émises dépassant 5 milliards de HK$, avec un taux de pénétration de l’assurance de 17,2 %.
Le secteur assurance de MoneyHero a connu une forte croissance, avec des revenus en hausse de 54 % en glissement annuel sur les neuf premiers mois de 2024. Au troisième trimestre 2024, le secteur assurance représentait 9,5 % du chiffre d’affaires du groupe. La plateforme d’assurance voyage de la société a déjà atteint des taux de conversion jusqu’à deux fois supérieurs grâce à son modèle d’achat complet, et un succès similaire est attendu pour l’assurance auto.
MoneyHero (NASDAQ: MNY) hat in Hongkong eine umfassende Plattform für den Kauf von Kfz-Versicherungen gestartet, basierend auf einer strategischen Partnerschaft mit bolttech. Die verbesserte Plattform ermöglicht es Kunden, Echtzeitangebote zu vergleichen, den Versicherungsschutz anzupassen und Policen sofort ohne Weiterleitung an Dritte zu erwerben.
Die Plattform baut auf der im Oktober 2024 begonnenen Partnerschaft mit bolttech auf und integriert fortschrittliche Versicherungsaustauschtechnologie. Der Kfz-Versicherungsmarkt in Hongkong verzeichnete 2023 Bruttobeiträge von über 5 Milliarden HK$, bei einer Versicherungsdurchdringung von 17,2 %.
Das Versicherungsgeschäft von MoneyHero zeigte ein starkes Wachstum mit einem Umsatzanstieg von 54 % im Jahresvergleich in den ersten neun Monaten 2024. Im dritten Quartal 2024 machte die Versicherungssparte 9,5 % des Konzernumsatzes aus. Die Reiseversicherungsplattform des Unternehmens erreichte bereits bis zu doppelt so hohe Konversionsraten durch ihr End-to-End-Kaufmodell, und ein ähnlicher Erfolg wird für die Kfz-Versicherung erwartet.
- 54% year-over-year revenue growth in insurance business for first nine months of 2024
- Insurance vertical represents 9.5% of group revenue in Q3 2024
- 2x higher conversion rates achieved in travel insurance through end-to-end purchasing model
- Large market opportunity with HK$5 billion in motor vehicle premiums
- Platform enhancement expected to drive increased sales and revenue growth
- None.
Insights
MoneyHero expands revenue opportunities with end-to-end car insurance platform, building on proven conversion improvements from travel insurance offering.
MoneyHero's launch of end-to-end car insurance purchasing in Hong Kong represents a strategic expansion of their business model beyond comparison services into full-service digital brokerage. This enhancement builds upon their October 2024 partnership with insurtech bolttech, now enabling customers to complete the entire purchase journey within the MoneyHero platform.
The company's insurance vertical has demonstrated impressive momentum, with
The Hong Kong opportunity is substantial, with motor insurance gross written premiums exceeding
The transformation from lead generation to end-to-end distribution creates a more compelling value proposition for both consumers and insurance carriers. By eliminating redirects to third-party sites and providing immediate policy issuance, MoneyHero addresses key friction points in the traditional insurance purchase journey, potentially driving higher completion rates and improved customer acquisition for carrier partners.
This development aligns with MoneyHero's strategic pillars of leading insurance brokerage and enhancing conversion expertise, positioning them to capture more value in the insurance distribution chain.
MoneyHero's bolttech integration transforms them from comparison site to full-service digital broker, demonstrating strategic evolution in insurance distribution.
MoneyHero's integration with bolttech's insurance exchange technology marks a significant advancement in digital insurance distribution for Hong Kong's car insurance market. This implementation enables a critical workflow transformation - transitioning from comparison-only to a comprehensive end-to-end purchase journey.
The technical capabilities now include real-time quoting, coverage customization, instant purchasing, and immediate policy issuance - all within a single platform experience. This eliminates the traditional friction points where customers abandon the process when redirected to insurer websites, addressing a fundamental conversion challenge in digital insurance distribution.
MoneyHero's travel insurance platform has already validated this model's effectiveness, achieving conversion rates up to twice as high as comparison-only journeys. The car insurance implementation leverages these learnings while addressing a more complex insurance product with higher premium values.
From an insurtech perspective, this represents the evolution of embedded insurance distribution - using technology to make insurance purchasing seamless and contextual. The bolttech partnership provides MoneyHero with sophisticated insurance exchange capabilities without building proprietary solutions, accelerating their market position.
For insurance carriers, this creates a more efficient digital acquisition channel that drives completed policies rather than just leads. MoneyHero's transformation into a technology-enabled broker positions them as a more strategic distribution partner in the evolving digital insurance ecosystem.
The company's stated plans to expand this approach across additional markets and product lines indicates a cohesive strategy to evolve beyond price comparison into comprehensive insurance distribution.
MoneyHero now enables customers to compare and purchase car insurance directly on its platform, strengthening its leadership in digital insurance brokerage and conversion optimization
HONG KONG, April 22, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced 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.
Enhancing Car Insurance Experience with AI Capabilities
The enhanced platform allows customers to:
- Compare real-time quotes from leading insurers
- Customize coverage options based on their needs
- Purchase policies instantly without redirection to third-party sites
- Receive immediate confirmation and policy issuance
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 October 8, 2024, which introduced real-time car insurance pricing comparisons. With the introduction of a fully integrated purchasing experience, customers can now enjoy unparalleled convenience, a streamlined process, and expedited policy issuance.
Hong Kong’s motor vehicle business recorded gross written premiums of over HK
A Stronger Digital Insurance Offering
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.
Strong Insurance Growth and Market Expansion
MoneyHero’s insurance business has emerged as a significant growth driver, with revenues from this vertical increasing by
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: “Customers increasingly seek a seamless experience where they can compare, select, and purchase insurance all in one place. 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. This initiative represents a natural evolution of our partnership with bolttech3, and we believe we have found the perfect partner to enhance our offerings. Together, we are taking a pivotal step toward positioning MoneyHero as the go-to destination for digital insurance in the region. With bolttech’s technological expertise and commitment to innovation, we are confident in our ability to significantly improve the purchase experience for our customers.”
Philip Weiner, CEO for Asia and Middle East of bolttech added: “Following our partnership announcement late last year, we are excited to be heading into the next stage with MoneyHero. 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.”
About MoneyHero Group
MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving Greater Southeast Asia’s digital economy, please visit www.MoneyHeroGroup.com.
About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.
With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.
For more information, please visit www.bolttech.io.
Forward Looking Statements
This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.
For MoneyHero inquiries, please contact:
Investor Relations:
MoneyHero IR Team
IR@MoneyHeroGroup.com
Media Relations:
MoneyHero PR Team
Press@MoneyHeroGroup.com
For bolttech inquiries, please contact:
FTI Consulting on behalf of bolttech
bolttech@fticonsulting.com
_______________________________
1 Insurance Authority, Market Overview, https://www.ia.org.hk/en/infocenter/statistics/files/GB_Market_Overview_2023_Eng_Final.pdf
2 Financial Services and the Treasury Bureau, https://www.fstb.gov.hk/en/financial_ser/insurance-industry.htm
3 An affiliate of the Company.
FAQ
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