As the Novel Coronavirus epidemic continues, Generali Hong Kong acted swiftly and flexibly to provide protection for its staff and families, business partners and customers, while deploying agility in its distribution processes to ensure business continuity and minimize the impact of the outbreak.
The first in Hong Kong to provide complimentary protection for life insurance intermediaries
Generali Hong Kong provides complimentary Generali Novel Coronavirus Coverage hospital cash benefit for all of its full-time life insurance intermediaries. The first of its kind in Hong Kong, the coverage will pay a daily cash allowance of HKD750 if hospitalization is required due to Novel Coronavirus infection.
Rebecca Tan, Chief Distribution and Marketing Officer of Generali Hong Kong, said: "Frontline business partners have greater exposure towards the epidemic while performing their duty to bring insurance protection to our customers. Many of our business partners and customers are concerned about the novel coronavirus outbreak. So we decided to timely extend a complimentary hospitalization benefit, Generali Novel Coronavirus Coverage, to protect them and give them a peace of mind."
Customers and their families can enjoy additional novel coronavirus coverage
In view of the highly contagious novel coronavirus and the increasing cases of household and close contact exposure, the Generali Novel Coronavirus Coverage also extended to cover customers' family members who are living in the same household. During the coverage period, if any of the covered persons is hospitalized for treatment due to Novel Coronavirus infection, he/she will receive a daily cash allowance of HKD750, up to HKD1,500 per day per family. In the event of unfortunate death of any of the covered persons due to Novel Coronavirus infection, an additional death benefit of HKD25,000 will be paid. This special complimentary coverage is applicable to any life insurance plan submitted from 1 February, 2020 to 30 April, 2020.
Launch of non face-to-face distribution approach to enable protection while observing social distancing
In response to the temporary facilitative measures announced earlier by the Insurance Authority to address the difficulties in carrying out face-to-face selling, to enable our business partners to complete the life insurance applications with its potential policyholders , Generali Hong Kong offers the new application process on non face-to-face approach for LionHarvest with guaranteed internal rate of return (IRR) of up to 3.5% p.a.. LionHarvest is a qualifying deferred annuity policy (“QDAP”) eligible for tax deduction.
Cillin O'Flynn, General Manager of Generali Hong Kong, said: "Despite the epidemic and challenging business environment, Generali Hong Kong has stepped up its measures in ensuring protection to its employees is adequate on both medical protection and physical safety needs. In response to the local shortage of surgical masks, we managed to source thousands of surgical masks from overseas for our employees along with alcohol-based hand sanitizers and daily fruit. Complimentary coverage is being offered in ensuring our partners and their customers are protected while seeking insurance protection."