Blue Celebrates its 3rd Anniversary with Strong Total Cumulative New Business Premiums of HK$1 billion and 95% Growth in Policy Sales

Hong Kong, 21 September 2021 - Blue, Hong Kong’s first digital life insurer, today celebrates its 3rd anniversary and announces the strong business performance that it has achieved over the past 3 years. Driven by the notable growth of total new business premiums, Blue has maintained its leading position among digital insurers in the city since its launch in 2018.

Performance highlights for the period of September 2018 to August 2021:

• Total cumulative new business premiums has reached HK$1 billion, a significant milestone achieved within three years

• As of 31 August 2021, total new business assets under management (AUM) reached HK$904 million, a 57% growth over December 2020

• Recorded a year-on-year 95% growth in policy sales for the first eight months of 2021

Solid Business Results Driven by First-in-Market Product Development Blue offers a comprehensive suite of 15 different products across 6 categories, including Term Life, Critical Illness, Personal Accident, Medical, Microinsurance, and Savings Insurance. Each with unique features that address the market's pain points, Blue’s range of products has allowed the brand to satisfy more customers and their protection needs, allowing them to live easily and have peace of mind.

“Since our launch in 2018, the insurance market has changed dramatically, and accelerated by COVID-19, we are seeing an increasing number of customers, from diverse backgrounds and age groups, embrace our simple, flexible insurance products,” said Mr. Charles Hung, CEO and Executive Director of Blue. “Placing heavy emphasis on product innovation, we have introduced a series of first-in-market insurance products that led to a surge in our business growth, enabling us to provide best-in-class insurance services to our customers.”

Leverage Technology to Drive Digital Initiatives that Benefit the Business Blue has continued to embrace innovative technologies with the goal of making customers’ lives easier, including being the first digital insurer to adopt Tencent Cloud as a core infrastructure and the ‘iAM Smart’ authentication to further streamline the digital insurance process for customers. With a rising adoption of digital technologies, Blue seized the opportunity to utilise digital capabilities to optimise the online insurance business.

Mr. Hung added, “Going forward, we will continue to leverage advanced technologies such as cloud computing and AI, to enrich our product offerings with more innovative solutions, especially in savings, annuity and protection to address the market gaps. We will also look to capitalise on the many exciting opportunities that the Greater Bay Area presents to us.”

Celebrating 3rd Anniversary with New Mascot Unveiling and Special Offers To mark the third anniversary celebrations, Blue is unveiling its new brand mascot “Blue Jai” (“Jai” means boy in Chinese). The new mascot embodies Blue’s characteristics - reliable, adventurous, and innovative - and presents digital insurance to Blue’s customers in a way that will resonate with them. Blue is also offering a range of special offers, from now until 31 October 2021. For more details, please visit Blue’s website.

Respective terms and conditions apply to the products and offers.

Charles Hung, CEO and Executive Director of Blue, reveals Blue’s latest updates and introduce Blue’s new mascot- Blue Jai at its 3rd anniversary event. (From left to right) Celebrity Chloe So, CEO and Executive Director of Blue, celebrities MC Cheung and Jeffrey Ngai.