Manulife International and QBE Hongkong & Shanghai Insurance have entered into an exclusive distribution agreement, effective on August 1. The agreement states that QBE shall be the sole supplier of Manulife’s general insurance products in Hong Kong.
The products, which will be distributed via Manulife’s network of agents, include travel, motor, home and employee compensation insurance, and these are expected to complement Manulife’s comprehensive life, pensions, and wealth management products.
QBE has been selling general insurance though Manulife’s agents since 2003, but the new agreement takes the relationship to the next step. It will cater better to the demands of both individual and corporate clients of Manulife, who need a “one-stop solution” for their financial needs. Increased convenience, enhanced experience, and more choices are some of the benefits customers will encounter.
Both firms will invest in e-business solutions to help agents in efficient distribution of general insurance products that will complement Manulife’s existing offerings. One such example is direct access to Qnect, QBE’s proprietary e-commerce platform. This allows Manulife agents to generate instant quotes, manage policy administration, and eventually file online claims.
New tailor-made general insurance solutions are also in the works, providing more value for clients, both corporate and individual.
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