MoneyHero now enables customers to compare and purchase car insurance directly on its platform, strengthening its leadership in digital insurance brokerage and conversion optimization
HONG KONG, April 22, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced the launch of its end-to-end car insurance purchasing journey in Hong Kong. In collaboration with global insurtech bolttech, this innovative enhancement enables customers to compare and receive real-time insurance quotes while seamlessly completing their entire car insurance purchase directly on MoneyHero’s platform—an industry milestone in Hong Kong.
Enhancing Car Insurance Experience with AI Capabilities
The enhanced platform allows customers to:
Compare real-time quotes from leading insurers
Customize coverage options based on their needs
Purchase policies instantly without redirection to third-party sites
Receive immediate confirmation and policy issuance
By integrating bolttech’s advanced insurance exchange technology, MoneyHero ensures accuracy, efficiency, and a fast, hassle-free experience for customers. This launch marks a major advancement for MoneyHero, building on its initial strategic partnership with bolttech previously announced on October 8, 2024, which introduced real-time car insurance pricing comparisons. With the introduction of a fully integrated purchasing experience, customers can now enjoy unparalleled convenience, a streamlined process, and expedited policy issuance.
Hong Kong’s motor vehicle business recorded gross written premiums of over HK$5 billion1, with insurance penetration in Hong Kong reaching 17.2% in 20232 — offering a compelling opportunity for transformation through data-driven, embedded distribution. For insurers, this enhancement translates to a higher volume of policies sold and improved customer acquisition, solidifying MoneyHero’s position as a valuable digital distribution partner in the evolving insurance landscape.
A Stronger Digital Insurance Offering
The introduction of this fully integrated car insurance journey aligns with MoneyHero’s strategic pillars of leading the insurance brokerage and enhancing its conversion expertise. MoneyHero’s platform has already demonstrated impressive results with travel insurance, achieving conversion rates up to two times higher due to its seamless end-to-end purchasing model. MoneyHero anticipates similar success with car insurance, which will drive increased sales for insurers and contribute to robust revenue growth.
Strong Insurance Growth and Market Expansion
MoneyHero’s insurance business has emerged as a significant growth driver, with revenues from this vertical increasing by 54% year-over-year in the first nine months of 2024. The Company expects full-year 2024 growth in its insurance business surpassing its Q3 level of 9.5% of its group revenue, driven by the expansion of end-to-end purchasing journeys across multiple insurance categories.
This enhancement builds on the success of MoneyHero’s travel insurance platform, which has experienced strong adoption and improved conversion rates due to its streamlined purchasing process. In the upcoming quarters, the Company plans to further enhance insurance purchasing experience across other markets and product lines, ensuring the Company remains at the forefront of innovation in the industry.
Rohith Murthy, CEO of MoneyHero, said: “Customers increasingly seek a seamless experience where they can compare, select, and purchase insurance all in one place. With this launch in Hong Kong, we are not only streamlining the car insurance shopping process—we are fully embracing the entire purchasing journey. Our data indicates that end-to-end insurance transactions yield significantly higher conversion rates, and we anticipate strong adoption in Hong Kong. This initiative represents a natural evolution of our partnership with bolttech3, and we believe we have found the perfect partner to enhance our offerings. Together, we are taking a pivotal step toward positioning MoneyHero as the go-to destination for digital insurance in the region. With bolttech’s technological expertise and commitment to innovation, we are confident in our ability to significantly improve the purchase experience for our customers.”
Philip Weiner, CEO for Asia and Middle East of bolttech added: “Following our partnership announcement late last year, we are excited to be heading into the next stage with MoneyHero. Our insurance exchange platform will enable them to deliver a more intuitive and transparent user experience, enhancing the overall car insurance purchasing journey for consumers in Hong Kong. Together with MoneyHero, we look forward to bringing more value-added services to consumers.”
About MoneyHero Group
MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving Greater Southeast Asia’s digital economy, please visit www.MoneyHeroGroup.com.
About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.
With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.
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