Avo Insurance Company Limited (Avo), Hong Kong’s first virtual general insurance company, has announced its additional round of capital injection of HKD260 million. This investment will accelerate Avo’s product development and enhance its insurtech capabilities as a key player in the Hong Kong insurance market. The sum also demonstrates shareholders’ recognition of Avo’s achievements since its inception in 2019. It’s not only a sign of trust, but also will bolster our efforts in product development and innovation.
Avo has won a series of local and overseas awards for its time-relevant products that seek to alleviate woes like COVID19-related unemployment, everyday sports injuries, and home office health problems. At the same time, Avo is expected to further drive product innovation using data science and machine learning through its partnership with Two Sigma, a global financial sciences company applying advanced quantitative methods and technology to financial services. Avo Insurance (Avo) is Hong Kong’s first virtual general insurance provider, combining advanced technology and decades of expertise from its parent company, Asia Insurance. It aims to make insurance a simple and enjoyable experience, with products specifically catered for everyday scenarios accessible anywhere digitally, living up to its motto “live a fruitful life”.