OneDegree

OneDegree is a direct-to-consumer virtual insurance carrier and B2B insurtech platform provider headquartered in Hong Kong. The company holds a virtual insurance license issued by the Hong Kong Insurance Authority (HKIA), obtained in April 2020, and offers personal lines coverage including pet, home, critical illness, and digital asset insurance. It operates concurrently as a B2B technology provider through its enterprise insurance core system (IXT) and cybersecurity platform (Cymetrics), supplying insurers across Asia with cloud-based policy administration and cyber risk management tools.

OneDegree operates on a cloud-native, API-first architecture built on Microsoft Azure. Its IXT platform provides multi-tenant SaaS policy administration, supporting quoting, policy issuance, underwriting configuration, and claims logic through 300+ insurance APIs. A generative AI layer (IXT Seeble, powered by Azure OpenAI) allows insurers to configure pricing and underwriting rules using plain-language prompts without coding. The companion Cymetrics platform adds AI-assisted cyber risk assessment and management capabilities for enterprise clients.

The company achieved full-year profitability in 2025 with total revenue of HKD 330 million (approximately USD 42 million), representing 38% year-on-year growth. It has written over 240,000 cumulative policies and holds an estimated 70% market share within Hong Kong's virtual insurance segment. Total external funding exceeds USD 70 million, including a Series B led by Sun Hung Kai & Co Limited and a Series B1 round co-led by BitRock Capital.