HKBN and AXA Launch Hong Kong’s First-ever Broadband + Home Insurance + Network Security + Smart Home Services Combo

HONG KONG SAR – Media OutReach – 21 June 2021 – The
importance of home insurance protection is often overlooked by Hong Kong people,
according to a survey by AXA Hong Kong and Macau (“AXA”), which found that only
around 40% of respondents have purchased insurance for their homes. Always
looking to diversify its offerings, Hong Kong Broadband Network Limited
(“HKBN”) has teamed up with AXA to launch complimentary home insurance,
bundled conveniently with fibre broadband service, network security and a smart
home kit, to offer the most comprehensive home protection solution combo for
customers.

HKBN and AXA team up to launch Hong Kong’s
first-ever fibre broadband service combo with home insurance, network security
and smart home kit, a comprehensive home solution for residential customers.

In Hong Kong, many people
may think that fire insurance or insurance provided by the building owners’
corporations is already sufficient, but in fact most of these only cover the facade
of buildings. Home insurance, on the other hand, provides protection of
contents within the home and covers losses resulting from household accidents.
For example, a burst waterpipe in the household that causes damage to elevators
or neighbours may lead to a demand for a huge amount of compensation equivalent
to multiple times of an individual’s monthly salary. According to AXA’s claim
figures, 45% of the most common home insurance claims are related to water
damage (leaks, typhoons and rainstorms etc.), which are not covered by fire insurance
or insurance provided by the property. As such, home insurance is essential for
comprehensive protection.

The newly launched
“All-in-one Home Kit” combines fibre broadband, home network security solution,
smart home solutions and home insurance, to give customers comprehensive
network security and home property protection. HKBN’s network security solution provides enterprise-level security, parental controls, and online personal identity protection to customers; while its smart home solutions allow customers to easily add additional motion sensors, smart door cameras and other IoT devices, offering customers a convenient way to manage and protect their virtual and physical properties. The
complimentary home insurance* under this cooperation with AXA offers households of eligible customers up
to HKD500,000 annual coverage of their home contents and up to HKD10 million annual
third-party liability coverage to protect their residence. Customers who sign
up or renew designated home broadband services can enjoy up to 24-month complimentary
home insurance* (worth around HKD1,720). To sign up or learn more, please visit
https://www.hkbn.net/personal/broadband/en/.

Elinor Shiu, HKBN Co-Owner and CEO –
Residential Solutions
said, “We’re thrilled to partner with AXA to further enhance our range of Infinite-play
service offerings for residential customers. By bundling home insurance with
our home broadband, cybersecurity and smart home solutions, we’re offering comprehensive
home security protection solution for our 1 million Hong Kong household
customers. Our collaboration with AXA, who is also a HKBN Enterprise Solutions
customer, highlights our efforts in elevating our customer relationships into partnerships
to create more win-win-win opportunities.”

Kenneth Lai, P&C Distribution Director, AXA
Hong Kong and Macau
said, “As the largest general insurer in Hong Kong, AXA has always been a
strong advocate of customer centricity and innovation. We are very pleased to partner
with HKBN to launch the city’s first service combo of fibre broadband, home
insurance, network security and smart home kit, to provide customers with comprehensive
home protection that caters for their household needs. AXA will continue to
launch quality products and diversify our distribution channels, making protection
easily accessible to customers.”

*Terms and conditions apply.