The Hong Kong Insurance Regulatory Authority is considering renaming "virtual insurance", which may be consistent with the logic of renaming virtual banks
2024-05-21 02:12:56
According to Li Jiada, CEO of WeLab Bank, a virtual bank in Hong Kong, the Hong Kong Insurance Regulatory Authority is considering changing its name to "virtual insurance". If the virtual bank and virtual insurance are renamed together with the same logic, it is believed that there will be further synergies. Li Jiada said that "digital" can more accurately highlight the core characteristics of digital financial services provided by technology, and clearly define the service model and characteristics of such banks. "Licensed" highlights that it is regulated by law, which helps to strengthen customers' confidence in local virtual banks, which is conducive to the acquisition of new customers and sustainable development of virtual banks.
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