EP 64 – Alex Leung – co-Founder OneDegree – The Best Way to Manage Disruption Is to Be Part of That Disruption

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Michael has previously worked for major international organisations including Morgan Stanley, Goldman Sachs, UBS and CitiGroup as well as supported and advised local tech giants like aCommerce and investors like Ardent Capital in Thailand. Since 2016, Michael has been running his media business hosting several tech podcasts in Asia.

Guest
Alex Leung

Alex is the Co-founder of OneDegree. He is a seasoned veteran with more than 15 years of insurance industry experience. Previously, Mr. Leung served in leadership roles at a number of successful insurance technology startups. Additionally, he had been a consultant with the World Bank and Deloitte Consulting. He holds an MBA from UC Berkeley and a BS degree in Mathematics from UCLA. He is a fellow of the Society of Actuaries and a board member of the International Actuarial Association Health Section.

In this episode, Michael Waitze talks to Alex Leung, a co-founder of Hong Kong-based InsurTech OneDegree. The Company started in 2016 as a tech enabler and has just acquired a virtual insurance license in Hong Kong as the first independent technology startup. The company today has two business models, one as a licensed virtual insurer and is working in the field of pet, health, and cyber insurance and as a technology company collaborating with insurance incumbents. 

One Degree has been the pioneer in pet insurance in Hong Kong. They have proven that there is a considerable market for this segment in Hong Kong and several insurance incumbents have since joined the pet insurance vertical. Michael and Alex talk about why it takes a startup to explore new opportunities and inject innovation into the insurance industry. 

Alex explains what it takes to build a fully digital insurer. Their team heavily focuses on a smooth customer journey and well developed UX and UI. Their KPI for completing a sales process for any product is less than 3 minutes. OneDegree also connects a network of partner vet clinics via a platform. Connecting vet clinics does not only allow for a smooth and transparent claims experience but also makes the life of the clinic’s employees easier.

Other companies mentioned in the episode:

Collective Health, CXA, Zhong An Technology, Avo Insurance, Bowtie

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