The partnership betwen QBE Hong Kong, Oriental Watch Company, and YAS Hong Kong will record insurance records on the blockchain at the time of purchase.
HK's Fire Department received 31,111 fire calls in 2022 and the new product aims to help protect residents with cost-effective premiums and a streamlined process.
Existing backers provided additional capital, however new investors were not named with OneDegree stating strategic partnerships would be announced in due course.
The (re)insurer is developing its inward reinsurance portfolio and with its expansion to Macau can now provide motor policies which cover the greater bay area.
The pilot scheme provides increased transparency and shared risk, enabling HKECIC to provide credit insurance to exporters trading with private enterprises in China.
