In Hong Kong, this global financial hub, the insurance market is vast, with surrenders and other payouts reaching HK$169.8 billion in 2024, highlighting policyholders' urgent need for asset liquidity. However, traditional surrender mechanisms often result in value loss, failing to meet the dynamic demands of the modern economy.

The WTS (WealthTech Solutions) platform, a secure and compliant online matching information platform, focuses on the assetization and transfer of savings-type insurance policies (excluding investment-linked, critical illness, medical, or general insurance). Through digitalization and compliant operations, it transforms policies into tradable financial assets.

Why is A Need of Secondary Market for Insurance Assets?

This is an inevitable evolution in financial history: products like stocks, bonds, and real estate have progressed from their original functions to assetization, and then to the birth of secondary markets. Hong Kong's insurance market boasts one of the world's highest per capita life insurance densities -US$8,769 in 2023, ranking second globally - with savings-type policies making up a significant portion, yet they suffer from severe liquidity shortages, creating a value trap. WTS fills this gap by providing information matching services, thereby unlocking trillions in potential.

保科創易

WealthTech Solutions

Shape Your Insurance Future

= Insurance + Technology +
Innovation + Trading

Value Ecosystem: A "Win-Win" Scenario

Its significance goes far beyond helping sellers get a better price. It can create a virtuous cycle that benefits multiple stakeholders throughout the financial ecosystem, creating a "win-win" situation.

Policyholder（Seller）

They can obtain cash far exceeding the surrender value (based on US market models, the premium can reach 10% to 50%), providing crucial liquidity support for vulnerable groups in dire need of funds, such as the elderly or those in financial distress.

Investor（Buyer）

A new asset class with stable returns has emerged in the market. Savings-type insurance policies offer tax advantages and long-term growth potential, providing investors with diversified asset allocation options.

Insurance Company

Significantly reducing the huge cash outflows caused by policy surrenders helps improve the company's capital stability, effectively reduce customer churn rate, and alleviate related administrative costs.

Hong Kong Financial Market

This innovation will not only attract new capital inflows and solidify Hong Kong’s position as an international financial center, but also respond to the Financial Services Development Council’s (FSDC) call to accelerate the digital transformation of the insurance industry and enhance the competitiveness of the entire market.

Our Team

Founder & CEO

Allen Cheng

Mr. Allen Cheng brings over 25 years of extensive experience in the finance and insurance sectors, establishing himself as a distinguished expert in sales leadership and business development. In 2018, he successfully founded a licensed insurance agency, showcasing his exceptional entrepreneurial spirit and deep industry insight. Mr. Cheng’s academic background is equally robust, holding a Master’s degree in Finance from the prestigious University College Dublin, along with professional diplomas in financial planning and property management. By combining vast practical experience with rigorous academic knowledge, he has built an unshakeable foundation for his innovative ventures in the fintech space.

Chief Compliance Officer

Anthea Kwan

Ms. Anthea Kwan is a Chartered Secretary with over 14 years of professional experience in corporate secretarial services and financial management. As the founder and Managing Director of a corporate services firm, and with prior senior financial roles in listed companies, she demonstrates exceptional expertise in financial management and corporate governance. Ms. Kwan’s academic credentials are impressive, holding a Bachelor’s degree in Accounting, a Master’s in Finance from University College Dublin, and a Master of Science in Professional Accounting and Corporate Governance from City University of Hong Kong. This robust background equips her with both a macro-financial perspective and micro-governance expertise to tackle complex compliance challenges.

Senior Consultant

Fanky Miu

Mr. Manboy Cheung is an experienced social worker with extensive experience in the social services sector, specializing in organizational operations and case management. As a key driver, he excels in aligning stakeholder needs, developing, and implementing effective service strategies. His past responsibilities include overseeing service delivery, continuously improving client experiences, fostering community relationships, and efficiently coordinating cross-departmental resources to ensure high-quality service and outcomes. He embeds a people-centric philosophy in organizational management and actively promotes the fulfillment of social responsibilities.

Mr. Fanky Miu is an expert in bond trading with over 20 years of extensive experience. His career spans top-tier international financial institutions, including roles as a bond product specialist at Nomura International Wealth Management, Head of Proprietary Bond Trading at ABCI, Executive Director of the Bond Department at ICBC International, and Senior Treasury Product Manager at Bank of China (Hong Kong) Global Markets. Holding a Master’s degree in Finance from University College Dublin, Fanky’s deep market expertise and solid academic foundation give him an unparalleled understanding of financial product structuring and pricing.

Led by Founder and CEO Allen Cheng, our core team and advisors bring over 20 years of expertise in finance and insurance. With powerful execution from concept validation to realization, we're dedicated to positioning Hong Kong as the world's leading insurance asset hub.

Operation Director

Manboy Cheung

FAQ

Q：What is the WTS platform?

A：WTS is an online information matching platform designed for Hong Kong's savings-type insurance policies. It aims to transform policies into tradable financial assets through secure and compliant digital operations, connecting sellers needing liquidity, buyers seeking asset growth, and licensed insurance institutions.

Q：Why does Hong Kong need a secondary market for insurance assets?

A：Hong Kong’s insurance market is enormous, yet policyholders seeking liquidity are typically limited to surrendering their policies, often incurring a value loss of 20-30%. In 2024, surrender payouts amounted to HK$169.8 billion, highlighting a critical need for enhanced asset liquidity. Establishing a secondary market addresses this gap, enabling the unlocking of significant value from these underutilized assets.

Q：How does the WTS platform work if I want to sell my insurance policy?

A：As a seller, you can anonymously upload your policy information. WTS platform will use an AI rating engine to match you with suitable buyers. The entire process will be conducted through licensed insurance institutions to ensure compliance and security.

Q：As a seller, what are the benefits of using the WTS platform?

A：The primary benefit is achieving a higher value compared to traditional policy surrender. Based on reference data, sellers can expect a premium of 10-50% above surrender value. This service particularly benefits seniors or those facing financial difficulties, offering enhanced liquidity options and reducing financial inequality.

Q：Who can purchase policies on the WTS platform?

A：The end buyers on the WTS platform are investors seeking asset allocation. They can obtain stable returns through investing in savings-type insurance policies and may enjoy tax advantages and long-term growth benefits.

Q：What types of insurance policy transfers does the WTS platform support?

A：The WTS platform focuses on the assetization and transfer of savings-type insurance policies. It does not include investment-linked, critical illness, medical, or general insurance policies.

Q：Is the operation of this WTS platform legal and compliant?

A：Yes. The WTS platform will undergo testing in a sandbox by government regulatory bodies (such as the Insurance Authority (IA)/Hong Kong Monetary Authority (HKMA)) to ensure full compliance of all operations. The platform is limited to licensed institutions to guarantee the legality of transactions.

Q：Does the WTS platform directly participate in or process policy transactions?

A：No. WTS platform itself does not participate in direct transactions. It positions itself as a neutral information matching infrastructure, responsible for connecting buyers and sellers in the market with licensed institutions to improve asset liquidity.

Q：What is the business model of the WTS platform?

A：The WTS platform adopts a software-as-a-service (SaaS) asset-light model. Future revenue will come from matching service fees, platform usage fees, advertising revenue, and data analytics revenue.

Q：Who are the main users of WTS platform?

A：The primary users of the WTS platform are licensed insurance institutions, such as insurance companies or insurance brokerage firms. The end-users serve policyholders (sellers) who need funds and investors seeking asset allocation (buyers).

Market Insights

Research

White Paper

Coming Soon

Reference

Financial Services and Treasury Bureau - More Captive Insurers to Join Our Efforts to Expand Hong Kong’s Risk Management Market

Insurance Authority - Insurance Authority launches the AI Cohort Programme

(研究報告) - 保單作為資產類別、二級市場 及 ESG 原則的綜合策略評估

(研究報告) - 香港保險業未來發展報告、全球視角、區域比較與資產交易樞紐定位

Financial Services Development Council - FSDC releases report “Insuring Success: Enabling Sustainable Growth and Innovation to Cement Hong Kong’s Role as a Premier Global Insurance Hub”

(研究報告) - 保險作為資產類別的未來發展

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