AIA together with EY today launched a new report providing new insights into High Net Worth Individuals (HNWIs) in the context of their views and adoption of insurance solutions. The report identifies specific challenges faced by HNWI’s and explores how insurance solutions can help this segment with their overall wealth management.
Ms. Bonnie Tse, General Manager, Strategy and Wealth Management of AIA Hong Kong & Macau, said, “HNWIs in Asia are looking far beyond basic life insurance coverage towards healthcare support, estate planning, tax optimisation, business succession and debt risk mitigation. Early planning and holistic wealth management are critical to safeguard legacies well into the future and we hope that the research-driven insights this paper provides will be valuable to anyone interested in better understanding the role of life and health insurance in wealth protection and legacy planning.”
She added, “AIA Hong Kong understands the protection, wealth management and legacy planning needs of HNWIs, and we have translated these insights into practical solutions by launching the industry-leading referral services of ‘Standby Trust’ and ‘Tax & Legal Advisory’ that aim to help selected premium customers in legacy and tax planning. By offering a comprehensive range of quality protection solutions and services tailored to customer needs, we are committed to supporting customers throughout their wealth management journey, and enabling them as well as their future generations to live Healthier, Longer, Better Lives with peace of mind.”
Mr. Dustin Ball, APAC Insurance Strategy Leader at EY, said, "The findings show that HNWIs are a diverse segment and face specific challenges when managing their wealth. These challenges are well-suited to insurance solutions and there is an opportunity to increase the understanding and awareness of how insurance products can augment wealth planning."