Avo

What Avo does

Avo Insurance Company Limited (安我保險有限公司) is Hong Kong's first virtual general insurance company, founded in 2018-2019 and operating as a fully digital, direct-to-consumer insurer from its headquarters in Sheung Wan. The company sells general insurance products exclusively through its online platform at heyavo.com, with no physical branches or agent network. Its product portfolio spans seven core lines targeting individual Hong Kong residents: global travel insurance (single-trip and annual plans), home insurance (owner-occupied and rented properties with modular add-ons), domestic helper insurance (foreign and local helpers), northbound medical insurance (coverage for mainland China public hospitals up to 7 million RMB annually), cosmetic medical tourism insurance, IVF treatment travel insurance, and OutpatientGuard outpatient insurance delivered through a network of 290+ clinics via partner QualiHealth Medical Services. Underwriting, policy issuance, and claims are handled end-to-end online, with claims turnaround targeted at 5-10 business days.

Avo operates a platform-plus-products model centered on the Avo Hub membership platform, which provides tiered benefits (Green/Silver/Gold/Diamond), points rewards, third-party policy integration, and access to the Avo eMall marketplace where customers can purchase and gift insurance gift cards and branded merchandise. Distribution occurs through direct online sales, an affiliate partner program recruiting influencers, app developers, media, and e-commerce platforms, and co-branding partnerships with retail and consumer brands including Mirabell, Klook, SmarTone, WeChat Pay HK, and CUHK Medical Centre. Revenue is generated primarily through insurance premiums across the product lines, supplemented by gift card and eMall merchandise transactions. Pricing ranges from HKD 131 per-trip travel insurance to multi-million HKD annual coverage limits, with most products offered on annual or per-trip subscription cadences.

Avo is privately held and licensed by the Hong Kong Insurance Authority via the Fast Track process, backed by three core strategic investors: Asia Insurance (60 years of industry experience, S&P A-rated since 2007), Hillhouse Capital (founded by Zhang Lei), and Two Sigma (data-science-driven investment and insurance technology firm). The company has raised approximately HKD 260 million (~$33M) in 2021 plus a $10 million Series A led by Noro-Moseley Partners in April 2026. Its workforce of 251-500 employees is based in Hong Kong, with all customers concentrated in the Hong Kong market and limited cross-border coverage extension through the northbound medical and tourism insurance products.

Name

Avo

Legal name

Avo Insurance Company Limited

Website

https://heyavo.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

251–500 employees

Short description

Avo Insurance Company Limited is Hong Kong's first virtual general insurance company, selling digital-first travel, home, helper, medical, cosmetic tourism, and IVF insurance directly to Hong Kong consumers via its online platform and Avo Hub membership ecosystem.

Ownership category

akta.pro rank

Product category

Virtual General Insurance

NAICS

Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)

akta.pro primary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Virtual general insurance
• Digital insurance platform
• Travel insurance
• Home insurance
• Insurtech

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Insurance Premiums: Avo generates revenue primarily through insurance premium payments collected from policyholders across its general insurance product lines including travel, home, helper, medical, cosmetic tourism, and IVF tourism insurance.
2. Gift Card & eMall Sales: Revenue from the sale of insurance gift cards and merchandise through the Avo eMall platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Avo is Hong Kong's first virtual general insurance company, selling a portfolio of digital-first general insurance products (travel, home, helper, northbound medical, cosmetic tourism, IVF tourism, and outpatient health insurance) entirely online with no agents or branches. Customers purchase policies, manage coverage, and file claims through the Avo website and Avo Hub membership platform, with end-to-end digital underwriting, instant policy issuance, and 5–10 business day claims turnaround.

Product overview

Avo is Hong Kong's first virtual general insurance company, established in 2019 with support from Asia Insurance, Hillhouse Capital, and Two Sigma. The company operates a platform-plus-products model consisting of a multi-tiered member platform (Avo Hub) that aggregates exclusive benefits, points rewards, and policy management, alongside a portfolio of modular insurance products. The product lineup includes travel insurance (Global Travel Protection with single-trip and annual plans), home insurance (covering both owner-occupied and rented properties with extensive optional add-ons), domestic helper insurance, northbound medical insurance (covering mainland China hospitalization), cosmetic medical tourism insurance, IVF treatment travel insurance, and outpatient insurance powered by Quality HealthCare network. Additional services include Avo eMall (an online marketplace for insurance gift cards and merchandise) and a digital claims processing system. The platform targets Hong Kong residents seeking digital-first, flexible insurance experiences.

Differentiator

Problem solved

Functional benefit

Brands

• Avo Hub: A multi-benefit member platform offering exclusive perks and convenient services for a better lifestyle experience.
• Avo eMall
• Avo Hub Membership Program

Products and services

• Global Travel Insurance (全球暢行旅遊保障) Travel insurance product offering single-trip and annual plans covering medical emergencies, trip delays, cancellations, lost baggage, and personal liability, with add-ons for winter sports, water sports, weddings, and amateur competitions. Starting from HKD 131 per trip.
• Home Insurance (家居保障) Home insurance covering owner-occupied and rented properties, offering customizable home contents and legal liability coverage with optional add-ons including electronics, pets, travel, WFH, foodie, outdoor items, child protection, and building coverage for properties up to 55 years old.
• Helper Insurance (家傭保障) Insurance for foreign domestic workers and local domestic helpers covering employer liability (HKD 100M per accident), hospitalization, outpatient, dental, repatriation, and replacement helper costs. Available in Lite, Plus, and LitePlus tiers.
• Northbound Medical Insurance (北上醫療保障) Medical insurance covering hospitalization, treatment, and medication at Grade II and above public hospitals in mainland China, with annual coverage up to 7 million RMB including proton/carbon-ion therapy, specific medications, external medications, and medical equipment. No medical examination required for enrollment.
• Cosmetic Medical Tourism Insurance (醫美旅遊保障) Market-first cosmetic medical tourism insurance covering cosmetic procedures at destinations including Japan, South Korea, Taiwan, Thailand, and Singapore. Covers cosmetic procedure medical expenses up to HKD 200,000, trip cancellation or postponement up to HKD 50,000, follow-up consultation up to HKD 4,000, and personal accident up to HKD 750,000. Insured age 18–76.
• IVF Treatment Travel Insurance (IVF 療程旅遊保障) IVF treatment travel insurance covering assisted reproduction procedures at destinations in Japan, South Korea, Taiwan, Thailand, mainland China, and Singapore. Covers IVF medical expenses up to HKD 200,000, trip cancellation or postponement up to HKD 50,000, follow-up consultation up to HKD 4,000, emergency evacuation up to HKD 2 million, and personal accident up to HKD 750,000.
• OutpatientGuard Outpatient Insurance (OutpatientGuard 門診保障) Outpatient insurance providing up to 30–100 outpatient visits per year through the QualiHealth Medical Services network (290+ clinics across Hong Kong Island, Kowloon, New Territories, and Islands), covering general practitioners, specialists, physiotherapy, Chinese medicine, mental health counseling, and dental with HKD 50 copay per visit.
• Avo Hub Membership Platform Member platform providing exclusive benefits, points rewards, policy management, and access to Avo eMall. Offers tiered membership (Green, Silver, Gold, Diamond) with increasing benefits such as bonus point percentages, birthday gifts, and exclusive vouchers. Includes a policy integration library for storing Avo and third-party policies in one place.
• Avo Insurance Gift Cards Insurance gift cards that can be purchased, shared, and redeemed online, allowing users to give insurance coverage as a gift to friends and family. Redeemed via the Avo eMall platform.
• Avo eMall Online marketplace offering insurance gift cards, branded merchandise, and other products. Allows users to purchase, gift, and manage insurance-related products digitally.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered flagship, minor and core.

• MirabellflagshipGTM or Marketing PartnerHong Kong major footwear brand Mirabell partnered with Avo on the 'You Shoes, I Insure' (你鞋我保) program twice. Customers purchasing designated Mirabell shoes receive Avo footwear insurance. If shoes are lost or damaged, customers receive Mirabell shoe vouchers as compensation. This co-branding partnership enhanced Mirabell's brand competitiveness and increased product repurchase rates.
• KlookminorGTM or Marketing PartnerKlook is featured as a partner company in the Avo cooperation program, potentially enabling bundled travel insurance offerings with Klook's travel booking platform.
• SmarToneminorGTM or Marketing PartnerSmarTone is listed as a partner company in the Avo cooperation program, potentially enabling bundled or cross-promotional insurance offerings.
• WeChat Pay HKminorGTM or Marketing PartnerWeChat Pay HK is listed as a partner company in the Avo cooperation program, potentially enabling digital payment-integrated insurance purchasing.
• ADMC (中大醫院)minorGTM or Marketing PartnerThe Chinese University of Hong Kong Medical Centre (CUHK Medical Centre) is listed as a partner company in the Avo cooperation program.
• Haven of Hope Christian Service (基督教靈實協會)minorGTM or Marketing PartnerHaven of Hope Christian Service is listed as a partner company in the Avo cooperation program, potentially providing healthcare-related insurance integrations.
• QualiHealth Medical Services (卓健醫療)coreStrategic or Co-development PartnerQualiHealth Medical Services provides the medical network for Avo's OutpatientGuard outpatient insurance, offering over 290 clinics across Hong Kong Island (110+), Kowloon (110+), and New Territories and Islands (70+). Services include GP, specialist, physiotherapy, Chinese medicine, and dental.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bowtie Life Insurance: Hong Kong's first virtual life insurance company, also licensed via the HKIA Fast Track. Directly comparable as a digital-first insurer targeting HK consumers with no-agent, online-only distribution, but focused on life and health rather than general insurance.
• ZhongAn Online P&C Insurance: China's first internet-only insurance company, listed on HKEX. Closely comparable business model: digital-first P&C insurer targeting consumers with embedded and ecosystem distribution, though operating at much larger scale across Mainland China.
• Lemonade: NYSE-listed AI-driven digital insurance company offering renters, homeowners, pet, and life insurance via a mobile-first, no-agent platform. Directly comparable on virtual insurance model, behavioral economics UX, and digital-first claims, though operating in the US market.
• Waterdrop: Hong Kong-headquartered insurtech platform with crowd-based insurance and brokerage services. Comparable as a Hong Kong-based digital insurance player targeting similar consumers, with overlap in digital distribution and embedded product offerings.
• Root Insurance: US-based digital-first P&C insurer using a mobile app for underwriting and claims. Comparable on the no-agent, technology-led general insurance model targeting consumer segments underserved by traditional carriers.

Broad incumbents

• FWD Group: Major pan-Asian insurance group headquartered in Hong Kong with a strong digital strategy. Comparable on HK market presence and digital ambition, but broader in product scope (life and P&C) and significantly larger in scale and capital base.
• WeSure (Tencent): Tencent-backed insurance platform in Mainland China offering digital insurance distribution and products. Comparable on the digital-first, ecosystem-driven insurance model, with deep embedded distribution via WeChat, but operates at vastly larger scale and capital base.

Regional players

• Singlife: Singapore-based digital life and health insurer with regional Asia ambitions. Comparable on digital-first insurance model and Asia-Pacific focus, but primarily operates in Singapore rather than Hong Kong.

Emerging players

• Betterfly: Latin American insurtech combining embedded insurance with employee wellbeing benefits. Comparable on the insurance-plus-engagement-platform model similar to Avo Hub, but emerging-stage and regionally focused.
• YAS MicroInsurance: Asia-based micro-insurance platform offering usage-based, on-demand digital insurance products via mobile. Comparable on embedded, lifestyle-driven, mobile-first insurance products targeting younger consumers in Asia.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/avo.lifestyle
• LinkedInlinkedin.com/company/avo-insurance
• Instagraminstagram.com/avo.lifestyle

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Avo