QBE Hong Kong, in partnership with Oriental Watch Company Limited and YAS Hong Kong, introduces TimeCare, the first blockchain-powered luxury watch insurance service in Hong Kong. This innovative insurance offering leverages blockchain technology to provide robust protection to luxury watch enthusiasts, establishing new industry standards.
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TimeCare simplifies the insurance process with an easy-to-use application and payment system that comes embedded with watch purchases, offering a unique solution for watch protection. Through blockchain technology, it ensures secure ownership and authenticity records, streamlining the claim process.
Unlike traditional home insurance policies, TimeCare offers select members a maximum protection of HKD 50,000 per item against theft, burglary, and robbery worldwide. This comprehensive protection is provided in a fully digital format, ensuring a straightforward and confidential experience for customers.
Upon registration, TimeCare securely and permanently stores policy details, coverage information, watch records, and warranty card details for easy access.
The partnership between QBE Hong Kong, Oriental Watch, and YAS demonstrates their commitment to innovation and customer satisfaction, reshaping insurance in the luxury goods market.
Lei Yu, CEO of North Asia and Regional Head of Distribution at QBE Asia, states, "TimeCare reflects our commitment to product innovation and customer satisfaction. We are proud to collaborate with Oriental Watch and YAS in offering blockchain-based protection for luxury watches."
Dennis Yeung, Chairman and Managing Director of Oriental Watch Holdings Limited, notes, "TimeCare represents a significant milestone for Oriental Watch."
William Lee, Co-founder of YAS, emphasizes the role of technology in providing peace of mind for watch owners, stating, "We are shaping the future today."
TimeCare aims to expand its reach and impact in the luxury watch market, with the successful Hong Kong launch paving the way for further innovation in the insurance sector.
