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Our capabilities
We’re each an insurance coverage producer and a distributer. In some markets, akin to mainland China and Singapore, we do each. In different markets, we don’t manufacture insurance coverage merchandise and it doesn’t make sense for us to start out a brand new manufacturing enterprise or to accumulate one.
However we nonetheless have shoppers in these markets whose wants we have to serve. So, we decide the most effective companions we are able to to work with – making certain they’re like-minded so we’re strategically aligned.
Our goal clients
We’ve constructed our merchandise for each retail and industrial shoppers. From a person clients perspective, we’re concentrating on rising prosperous and up, together with high-net value and ultra-high-net value. This vary of segments has essentially the most safety wants – be it from a well being and wellness perspective, safety or from a legacy and wealth switch angle. Or usually, a mix of all of those.
In terms of companies, we now have options for each massive corporates and small and medium-sized enterprises. That is the place we actually come into our personal. We will present industrial clients with bespoke insurance coverage choices, for instance options for his or her workers. Insurance coverage is usually the entry level into HSBC for a lot of of those shoppers – it’s the primary product they take with us in lots of circumstances.
It’s a key instance of how HSBC Life can lead with bringing in new shoppers. That is significantly related in mainland China and India, the place insurance coverage penetration is low, however the alternative is huge.
We have now enormous development ambitions for HSBC Life. We’re assured that our key differentiator – our broad, built-in wealth administration mannequin, coupled with our worldwide scale and backed by information and analytics – will proceed to offer best-in-class holistic options for our clients.
For perception on the bodily, psychological and monetary well being of individuals dwelling in Hong Kong, mainland China, Singapore, and the UK, try our HSBC Life +Issue Research 2022 (opens in new window)
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