Launches Blue Cross Elite Combo and Love Yourself VHIS Plan in first quarter of 2024 With “Just Right” protection

HONG KONG SAR - Media OutReach Newswire - 28 March 2024 - Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross") achieved a remarkable 17.9% growth in overall business in 2023, surpassing the market's 6.3% increase¹. Maintaining the growth momentum, Blue Cross announced the launch of two new products: Blue Cross Elite Combo and Blue Cross Love Yourself VHIS Plan. The former introduces a groundbreaking concept of "multiple plans in one single policy, same coverage period, and effortless management", and is sold exclusively by AIA Hong Kong Financial Planners who have been registered as Blue Cross's agents. The latter allows flexible adjustment of deductible and offers an affordable, value-for-money choice of medical protection for young adults. Both products feature multiple competitive benefits in the market and cater to the needs of customers with the "just right" protection at the right time for the right budget. Blue Cross delivered outstanding business results in 2023:

• Overall business grew by 17.9%, well above the 6.3% growth in the market. All product lines outperformed the market in terms of year-on-year growth.
• As a market leader in general insurance, Blue Cross achieved particularly strong growth in the non-medical business, with an impressive growth rate 11 times the market growth rate². Most notable was the travel and personal accident insurance business which surged 270%, quadrupling the market's 66.1% growth³.
• Medical insurance has always been a growth driver for Blue Cross. Last year also saw steady growth of 8.1%, outperforming the market's 7.5% growth in the medical business⁴.

Ms Bonnie Tse, Chief Executive Officer of Blue Cross, said, "Upholding its customer-first philosophy, Blue Cross has been serving Hong Kong for over 55 years and leading the industry in developing 'just right' products that address the needs and pain points of customers. We have been expanding customer touchpoints to enhance customer experience with seamless services online and offline. Blue Cross outperformed the market in various business segments last year. This remarkable performance is indeed a testimonial to our strategies. I believe there is still huge growth potential in the general insurance and medical insurance markets, and I remain 100% confident in our business outlook. "Considering customers' demand for multiple protections and flexible offerings, we have launched two new products, Blue Cross Elite Combo and Blue Cross Love Yourself VHIS Plan. Underlining innovation and flexibility, both products are designed as affordable and value-for-money offerings to address customers' protection needs at different stages of life." Blue Cross Elite Combo Blue Cross Elite Combo introduces a groundbreaking insurance concept of "multiple plans in one single policy, same coverage period, and effortless management." It allows customers to freely choose their coverage combination from a range of insurance and customise benefit levels according to their individual needs and budget. The product is highly flexible and accentuates the freedom of choice, providing customers with all-around protection for their everyday lives and appealing to smart individuals, newlyweds as well as three-generation family households. Below are its key features.

• Combining multiple insurance types: The plan covers six different types of insurance with a total of 22 coverage options, providing comprehensive protection for various aspects of daily life. It comprises three Basic Protection Modules – Travel Cover, Home Cover and Domestic Helper Cover, as well as three Supplementary Protection Modules that can be added as needed – Golf Cover, Leased Property Cover and Personal Cover. To enrol in the plan, customers need to choose at least one Basic Protection Module before adding a Supplementary Protection Module.
• Better control over premium budget: Customers can freely customise the desired coverage combination and benefit level of the protection options according to budget.
• Flexibility to change protection combination: Considering that protection needs may change at different stages of life, the plan provides flexibility to change protection combinations according to needs. There are also options for Plan Level (including Sumptuous Choice, Balanced Choice and Light Choice) or Optional Add-ons for customers to choose from, further enhancing their protection and creating a worry-free life for themselves and their families.
• Unified policy management: The plan consolidates multiple coverage plans under just a single policy, with the same coverage period. Coverage renewal can be done together...