HONG KONG SAR - 21 June 2021 - The importance of home insurance protection is often overlooked by Hong Kong people, according to a survey by AXA Hong Kong and Macau ("AXA"), which found that only around 40% of respondents have purchased insurance for their homes. Always looking to diversify its offerings, Hong Kong Broadband Network Limited ("HKBN") has teamed up with AXA to launch complimentary home insurance, bundled conveniently with fibre broadband service, network security and a smart home kit, to offer the most comprehensive home protection solution combo for customers.
In Hong Kong, many people may think that fire insurance or insurance provided by the building owners' corporations is already sufficient, but in fact most of these only cover the facade of buildings. Home insurance, on the other hand, provides protection of contents within the home and covers losses resulting from household accidents.
For example, a burst waterpipe in the household that causes damage to elevators or neighbours may lead to a demand for a huge amount of compensation equivalent to multiple times of an individual's monthly salary. According to AXA's claim figures, 45% of the most common home insurance claims are related to water damage (leaks, typhoons and rainstorms etc.), which are not covered by fire insurance or insurance provided by the property. As such, home insurance is essential for comprehensive protection.
The newly launched "All-in-one Home Kit" combines fibre broadband, home network security solution, smart home solutions and home insurance, to give customers comprehensive network security and home property protection. HKBN's network security solution provides enterprise-level security, parental controls, and online personal identity protection to customers; while its smart home solutions allow customers to easily add additional motion sensors, smart door cameras and other IoT devices, offering customers a convenient way to manage and protect their virtual and physical properties.
The complimentary home insurance* under this cooperation with AXA offers households of eligible customers up to HKD500,000 annual coverage of their home contents and up to HKD10 million annual third-party liability coverage to protect their residence. Customers who sign up or renew designated home broadband services can enjoy up to 24-month complimentary home insurance* (worth around HKD1,720). To sign up or learn more, please visit https://www.hkbn.net/personal/broadband/en/.
Elinor Shiu, HKBN Co-Owner and CEO – Residential Solutions said, "We're thrilled to partner with AXA to further enhance our range of Infinite-play service offerings for residential customers. By bundling home insurance with our home broadband, cybersecurity and smart home solutions, we're offering comprehensive home security protection solution for our 1 million Hong Kong household customers. Our collaboration with AXA, who is also a HKBN Enterprise Solutions customer, highlights our efforts in elevating our customer relationships into partnerships to create more win-win-win opportunities."
Kenneth Lai, P&C Distribution Director, AXA Hong Kong and Macau said, "As the largest general insurer in Hong Kong, AXA has always been a strong advocate of customer centricity and innovation. We are very pleased to partner with HKBN to launch the city's first service combo of fibre broadband, home insurance, network security and smart home kit, to provide customers with comprehensive home protection that caters for their household needs. AXA will continue to launch quality products and diversify our distribution channels, making protection easily accessible to customers."
About Hong Kong Broadband Network Limited
Hong Kong Broadband Network Limited is part of HKBN Group ("HKBN" or the "Group"). Headquartered in Hong Kong with operations spanning across Asian markets like Hong Kong, Macau and mainland China, Singapore and Malaysia, the Group is a leading integrated telecommunications and technology services provider.
Through three core brands, Hong Kong Broadband Network, HKBNES and HKBN JOS, the Group offers comprehensive one-stop Information and Communications Technology ("ICT") solutions that include broadband, data connectivity, cloud and data centre, managed Wi-Fi, business continuity services, system integration, cybersecurity, mobile services, roaming solutions, digital solutions, voice and collaboration, stationery and supplies that are cumulative to our one-stop-shop offering of Transformation as a Service (TaaS) and OTT entertainment. HKBN's extensive tri-carrier fibre infrastructure covers over 2.4 million residential homes and over 7,400 commercial buildings and facilities across Hong Kong.
Committed to creating a lasting positive impact to wherever it operates, HKBN embraces a core purpose to "Make our Home a Better Place to Live". The Group is managed by hundreds of Co-Owners (supervisory and management level Talents in the Group) who invested their savings to buy shares of HKBN Ltd. (SEHK Stock Code: 1310).
About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.
As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.
At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.
We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform "AXA BetterMe", which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.