OneDegree celebrates its second anniversary with a strong portfolio of innovative virtual insurance products

OneDegree Hong Kong Limited (“OneDegree”), an industry-leading licensed virtual insurer in Hong Kong, is committed to providing simpler, faster insurance products with more comprehensive coverage through technology. Since its establishment in April 2020, OneDegree has been effectively identifying customer pain points to launch a wide range of targeted products to address market needs. From pet to critical illness, fire to e-commerce and digital assets, OneDegree’s products have been well received in the market by both individual consumers and businesses. Looking forward, OneDegree will further optimise its online purchase and insurance claim platforms to offer its customers an even better digital experience, while continuing to develop a diverse range of innovative products for the market.


As virtual insurance continues to grow in popularity among Hong Kong consumers, OneDegree has achieved a satisfactory performance in the past 12 months:

  • As of March 2022, OneDegree’s total sum insured amounted to HKD 8.4 billion, more than a tenfold increase compared to March 2021.
  • In he first quarter of 2022, OneDegree has seen a strong sales growth rate of 39% despite the fifth and worst wave of COVID-19 outbreak, testifying to the soaring demand for and confidence in digital insurance service.
  • Following the success of its pet insurance, parcel protection for e-commerce and fire insurance in the first 12 months of operation, OneDegree launched its first critical illness insurance in late 2021 and home insurance in the first quarter of 2022. These new products have enabled OneDegree to further tap into the mainstream market to offer consumers peace of mind with better protection at a more reasonable cost.
  • Early this year OneDegree entered into a strategic partnership with Munich Re to launch OneInfinity, a digital asset insurance product, making OneDegree the first licensed insurer in Asia to collaborate with a global leading reinsurer in offering digital asset insurance.


By developing commission-free digital insurance products with new technologies, OneDegree has been passing on cost savings to customers with even better protection. Such innovative first-of-its-kind products have taken OneDegree to the frontier in the insurance field, making it an industry leader which offers customers more comprehensive coverage:

  • In the past 12 months, OneDegree has continued to secure its position as a market leader in pet insurance with its Pet Insurance “Pawfect Care”. The number of policyholders who have signed up their other pets for another “Pawfect Care” plan has tripled, with some having as many as eight pet insurance policies.
  • OneDegree’s fire insurance aims to push the boundaries by enhancing pricing transparency. While some insurers in the market may charge up to 0.15% of the outstanding mortage loan amount for fire coverage, OneDegree offers a fixed premium rate of 0.03% across residential properties of all types to help homeowners save up to 80% in policy premiums every year. It is estimated that OneDegree has already helped its customers save a total of tens of millions in annual policy premiums to date.
  • Since its launch in 2021, OneDegree’s Critical Illness Insurance “InfiniCare” has been particularly popular among the younger generation. At present, customers aged 25 to 34 make up the largest share, at more than 60%, of its policyholders, among which more than 70% are men. From November 2021 to February 2022, the page views for searching around critical illness coverage on OneDegree’s website continued to soar, and such number of page views in February 2022 alone surpassed the total number of page views in 2021.


Providing reliable online insurance services with a customer-centric approach


It has been more than two years since COVID-19 became a pandemic, but the outbreak has had little impact on OneDegree’s operation. Thanks to its reliable, easy-to-use digital platform, consumers can easily buy coverage online and enjoy its insurance services around the clock without an agent:

  • The pandemic has not disrupted OneDegree’s operation and it has been handling claims as usual. Take for example, its Pet Insurance “Pawfect Care”. In the last three months (January to March 2022) during the fifth wave of COVID-19 outbreak, the average time required to process and complete a claim was only 2.97 working days. Compared to an average of two to four weeks for other traditional insurers, OneDegree has greatly reduced the claims processing time to provide customers a better experience.
  • In the past three months (January to March 2022), nine out of ten OneDegree’s customers expressed satisfaction with its services1, and it receives reviews with an average rating of 4.58 out of 5 points in Purchase Satisfaction, exemplifying that OneDegree’s user experience successfully caters to the needs of its customers. Surveyed customers also gave an average rating of 4.35 out of 5 points in Pet Claim Satisfaction. As all procedures can be done online with no physical documents required in normal circumstances, customers can easily file a claim and track progress which save them time and cost.


What’s more, the post-90s and millennials make up the largest share of OneDegree’s demographic: 

  • More than half of OneDegree’s customers are the 18-34 demographic, who can easily enroll online in an average of three minutes2. 
  • Among OneDegree’s customers, the zodiac signs that know best how to plan ahead by getting insured are Scorpio (9.8%), Capricorn (9.6%) and Virgo (9.4%).
  • At present, OneDegree provides coverage for more than 70 breeds of dog and 40 breeds of cat.


OneDegree Group’s Co-Founder Alvin Kwock said he was grateful for the support shown by OneDegree’s customers. “OneDegree is committed to change the public perception of the insurance industry as a business with highly manual processes, bureaucratic terms and conditions, and long claims processing time. By embracing technologies with an innovative mindset, we offer customers an alternative to get insured and file a claim flexibly and conveniently, anytime and anywhere,” Kwock added. “OneDegree raised USD 28 million in a Series B1 funding round in August 2021, and we have seen a steady business growth since then. We have been actively hiring and we are now a 180-strong team with offices in Hong Kong and Taipei. We are looking at expansion plan to further grow our team to 300 employees this year. Looking forward, we will continue to introduce a more diverse range of insurance products leveraging technology and innovation, in the hope of bringing about a revolution to transform the mainstream insurance market.”


OneDegree celebrates its second anniversary with a series of special offers


To celebrate OneDegree's second anniversary, new customers can enjoy a special limited-time offer when enrolling in any one of the following insurance plans:


Pet Insurance

  • Get 30% off the first year's premium when applying for Pet Insurance “Pawfect Care” with the promo code 【HAPPY2】 between 22 and 24 April 2022

Fire Insurance

  • From 22 to 30 April 2022 when enrolling in Fire Insurance with the referral code【HOMEPOD】, receive an HKD 200 PARKnSHOP cash coupon for any Fire Insurance policy with a total annual premium below HKD 1,400, or an Apple HomePod mini (worth HKD 749) if the total annual premium is above or equal to HKD 1,400

Critical Illness Insurance

  • Enjoy a six-month premium rebate when signing up for Critical Illness Insurance “InfiniCare” with the promo code 【REVIVE】 between 22 and 30 April 2022

(Terms and conditions apply; visit for details.)


What’s more, OneDegree launches a “Second Anniversary Challenge” on 22 April, where the 48 participants with the highest scores will have a chance to win a prize, including: an iPhone 13 Pro Max 128 GB (worth HKD 9,399), a Dyson Purifier Cool Autoreact (worth HKD 4,480), Dyson Supersonic hair dryer HD08 (worth HKD 3,680), and more. Refer to OneDegree’s Facebook page for campaign details and terms and conditions.



1. Source: OneDegree Customer Service (Email) Satisfaction Survey

2. The actual times vary depending on factors such as environment, network, device, and so on


< Back