Hong Kong – CTF Life has announced a collaboration with AlipayHK that enables users of its mobile app to make insurance premium payments via AlipayHK.
The partnership is aimed at simplifying the premium payment process by allowing customers to complete transactions with a single click, without the need to manually enter credit card or bank account details. CTF Life said the move is expected to improve service efficiency and reduce friction in the payment journey.
According to the insurer, AlipayHK will be progressively introduced as a payment option in response to growing demand for a broader range of digital financial services. The rollout will support the digitalisation of both new policy applications and renewal premium payments, contributing to the industry’s wider shift towards paperless operations.
Venetia Lee, CEO of AlipayHK, said, “AlipayHK is committed to collaborating with financial institutions to build a digital ecosystem, drive the digital upgrade of Hong Kong’s financial sector, and deliver more inclusive financial services to more citizens.”
Lee continued, “Among AlipayHK’s over 4.5 million active users, one million are our wealth management users, which demonstrates public recognition of digital wealth management services. The partnership with CTF Life addresses users’ increasing wealth management needs by leveraging digital payment solutions to reshape the insurance application process, enabling users to manage and allocate their assets more efficiently.”
CTF Life had earlier launched an “ePay” feature on its mobile app, which allows customers to manage accumulated policy value through digital channels. The latest integration expands the range of payment options available on the app and reflects ongoing cross-industry collaboration between CTF Life and AlipayHK.
The insurer added that it will continue to draw on resources within the Chow Tai Fook Group ecosystem as it develops additional digital and lifestyle-orientated insurance services.
Man Kit Ip, executive director and CEO of CTF Life, said, “CTF Life has always been customer-centric and forward-thinking, committed to delivering quality experiences and services to our customers. AlipayHK has a large base of active users in Hong Kong, and this collaboration fully leverages our synergies to provide customers with a more convenient, efficient, secure, and lifestyle-orientated payment experience.”
He added, “Moving forward, we will continue to create value beyond insurance by embracing innovative technologies and cross-sector collaborations to offer comprehensive support for customers at every stage of life.”
