Bowtie Launches VHIS Flexi Plans with “Business Class” Benefits at “Economy Class” Prices

HONG KONG, July 16, 2019 – Today, Hong Kong’s first virtual insurer, Bowtie, launched two Voluntary Health Insurance Scheme (VHIS) products, “Flexi Regular” and “Flexi Plus”. Adhering to its mission in providing “High Protection at Low Costs” medical insurance, these products are designed to make private medical services more accessible for Hong Kong people.

Bowtie adopts a Just-fit concept and designed its value for money VHIS Flexi Plans by leveraging data of hospital fees and insurance claims to offer Hong Kong people the benefits and coverage of Flexi Plans at the extra low cost of the market rates of VHIS Standard Plans.

“Business Class” Benefits – Flexi Plans Features
● Triple Shield: Flexi Plans include benefits up to $1 million, $220k supplementary major medical benefit, plus BowtieCash1 that pays for medical costs that exceed the Plan coverage. Combining all three, private medical services become truly accessible
● Protection Upgrade: 10 extra benefits including six enhanced benefits and four other benefits, it is the second top provider offering the most additional benefits items in town²
● Prescribed Diagnostic Imaging Tests (Upgraded): In addition to covering day cases, “Flexi Plus” even comes with an annual limit of up to $40k, which is 18% higher than the average limit in the market³

“Economy Class” Prices – Flexi Plans Premium Rates
● Extreme Value for Money: Bowtie VHIS Flexi Plans premiums are not only 23% cheaper than average premiums of other Flexi Plans⁴, the premiums for most of the age groups is within only 10% difference from the average premiums of Standard Plans in the market*
● Low operating costs: Everything can be done online via smartphone or computer – from initial application to online underwriting, to making a claim. By harnessing the latest technology, operating costs are greatly reduced and the savings can be passed on to customers
● Ultra High Transparency: The first insurer in Hong Kong to disclose its medical underwriting engine that evaluates customers’ health conditions and provides accurate quotations instantly, thus offering customers access to product details and premium rates anytime anywhere

“Over the past few years, Hong Kong people reluctantly suffered from lengthy waiting times at public hospitals due to overburdened public healthcare services. Bowtie believes that Hong Kong people deserve more comprehensive medical protection, that is why we created these ‘High Protection, Low Cost’ VHIS products to make private medical care more accessible for everyone.” said Fred Ngan, Co-founder and Co-CEO, Bowtie.

A recent report published by the Consumer Council noted that although 43% of hospitalized patients were covered by personal health insurance, they still opted to be treated in public hospitals. The study highlights that consumers are anxious of the complex policy terms and conditions and lack certainty as to whether the exorbitant private medical costs are eligible for claims.ˆ Contrarily, VHIS is a Food and Health Bureau-certified product with highly transparent premium schedule and coverage. Coupling VHIS with Bowtie’s unique Triple Shield protection, customers can be reassured to access private medical services with peace of mind.

On how Bowtie can sustain its competitive pricing, Michael Chan, Bowtie’s Co-founder and Co-CEO, shared, “We have been leveraging insurtech and our fully end-to-end digital platform to greatly reduce operational costs. Our focus is to serve Hong Kong people, that’s why we have gathered feedback from front-line medical professionals, actuaries and the general public to help us gain insights into what products truly fit Hong Kong people’s medical needs, while we strive to offer them at the most reasonable prices.”

Bowtie is committed to unlocking private medical services for Hong Kong people. In view of this, it will also launch additional medical protection products in this quarter, including a Cancer Reimbursement Plan and an Accident Protection Plan. In line with its mission, Bowtie aims to bring fundamental medical protection to every Hongkonger and supports Hong Kong people’s right to autonomy and to the protection they deserve.

For more information on Bowtie’s insurance platform or VHIS products, please visit

2,3,4 Information from Food and Health Bureau website, as of June 25, 2019.
*Based on non-smoking male aged between 9 to 52. Information from Food and Health Bureau website, as of June 25, 2019.
ˆConsumer Council Report:

About Bowtie
Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer approved under the Fast Track pilot scheme. Built with modern technology and medical expertise, Bowtie’s platform offers health insurance plans under the Voluntary Health Insurance Scheme (VHIS) to customers directly. Bowtie is backed by Sun Life and supported by leading international reinsurers. Stay up to date at

About Bowtie VHIS Flexi Plans:
About Bowtie Claim Services:
For product details, please refer to policy terms and conditions.

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