Mox, a Hong Kong-based virtual bank backed by Standard Chartered, PCCW, HKT and Trip.com, has launched its first general insurance product, Personal Accident Cushion, underwritten by QBE.
The product, designed with a fully digital customer experience, is now seamlessly available through the Mox app, according to FF News.
The introduction of Personal Accident Cushion marks Mox’s entrance into the InsurTech space, aiming to meet the rising demand for affordable, on-demand protection among modern consumers in Hong Kong.
This move supports Mox’s broader vision to enhance financial well-being and provide simple, relevant solutions in an increasingly digital world.
Mox has established itself as a challenger bank delivering smart, safe, and accessible financial services through an entirely digital platform. With a focus on user experience, Mox provides banking, spending, and saving tools that reflect the evolving expectations of tech-savvy customers.
The newly launched Personal Accident Cushion offers a flexible, transparent protection plan tailored to customers’ daily needs. It provides coverage for accidental death or permanent disablement, including enhanced benefits for accidents occurring during public transport travel. The product is offered in three pricing tiers – Basic (HKD20/month), Value (HKD60/month), and Max (HKD100/month) – all of which come with up to HKD2m in coverage, 24/7 worldwide emergency assistance, and no hidden fees.
Users can apply, manage, and make claims entirely within the Mox app, making the process convenient and intuitive. Additional features include rehabilitation support, accidental medical expense coverage, and parent care, ensuring comprehensive protection. The flat premium structure removes traditional insurance complexities, with no age-based increases or cancellation penalties.
To encourage adoption, Mox is offering up to three months of free coverage. Basic Plan users receive three months entirely free, while Value and Max Plan users get a full cash rebate equivalent to one month’s premium after maintaining coverage for three months.
This launch is just the beginning for Mox Insure. The company has confirmed it will continue to roll out additional digital-first insurance products designed to disrupt traditional offerings and better serve consumers in Hong Kong.
Mox CEO Barbaros Uygun said, “At Mox, our mission is to redefine financial services by making them safe, simple, smart and fun. With Mox Insure, we’re bringing that same philosophy to protection – offering insurance services that are truly simple, relevant and affordable. This is only made possible with fully end-to-end digital insurance experience that is capable of delivering truly premium service through an intuitive customer journey.”
QBE North Asia CEO Lei Yu said, “Our partnership with Mox directly addresses the modern Hong Kong consumer’s desire for on-demand, accessible solutions. It underscores QBE’s commitment to fostering innovation within Hong Kong’s dynamic financial ecosystem. Together, we’re poised to unlock significant potential in the local digital economy, making vital protection more accessible and straightforward in their daily lives.”
Uygun added, “We listened closely to the people of Hong Kong and designed Personal Accident Cushion to meet their specific needs and concerns – like accidental medical expense, rehabilitation, and family support during recovery. The result is protection that’s easy to understand, easy to afford, and easy to claim. It is insurance made for real life.”
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