Avo Insurance
Hong Kong's first licensed virtual general insurer, distributing insurance entirely online without agents or brokers.
Overview
Avo Insurance is a direct-to-consumer general insurance carrier licensed in Hong Kong, operating entirely through online channels without traditional agents or brokers. Authorized under the Hong Kong Insurance Authority's Fast Track programme in 2019, it was the first virtual general insurer to receive a license in Hong Kong. The company offers personal lines including home, travel, domestic helper, and medical coverage, targeting Hong Kong residents with a fully digital purchase and claims experience.
Avo's technology platform supports end-to-end online policy issuance and claims management, including a patented conversational AI and retrieval-augmented generation (RAG) system for digital insurance contract configuration. The company operates a membership and loyalty program called Avo Hub, and provides an online claims tracking interface.
Avo is majority-owned by Asia Insurance (51%), with backing from Hillhouse Capital and Two Sigma Ventures. As of its Series B round in September 2021, the company had raised a combined USD 78.4M across two documented funding rounds. Two Sigma Ventures provides a data science and technology partnership that supports product innovation alongside the company's insurance operations.