We are creating some awesome events for you. Kindly bear with us.

Hong Kong: OpenAPI Platform Revolutionises Insurance Industry 

The Hong Kong Science and Technology Parks Corporation (HKSTP) announced a partnership with the Hong Kong Insurance Authority (IA) to spearhead the Open Insurance movement. This initiative is being realised through the launch of the OpenAPI Platform for the Insurance Sector, often referred to as the Central Register.

Open insurance revolves around the concept of facilitating the exchange of insurance-related information among insurance companies and third parties using Application Programming Interfaces (APIs), thus fostering innovation in insurance products and services.

The OpenAPI Platform for the Insurance Sector serves as a trusted repository that houses open insurance APIs. Its primary function is to connect authorised insurers, licensed insurance intermediaries, and their third-party service providers, allowing them to seamlessly display and manage their product and service information. By granting public access to this valuable data, this central hub serves as a catalyst for enhanced connectivity, further fuelling the development of groundbreaking insurance products and services.

The Head of the STP Platform at HKSTP expressed her enthusiasm for this initiative, stating that it is a significant step toward the realisation of Open Finance. By harnessing the potential of open APIs, businesses can unlock new avenues for growth through enhanced connectivity, collaboration, and innovation. The OpenAPI Platform for the Insurance Sector empowers both insurance companies and tech ventures to leverage open APIs, thereby delivering transformative financial experiences to the industry.

The Associate Director of the Policy and Development Division at the IA urged the insurance industry to embrace the OpenAPI Platform as a driver of innovation and collaboration. He emphasised that the establishment of this platform underscores IA’s unwavering commitment to fostering greater cooperation among market players, while also promoting the application of Insurtech both within and beyond the insurance sector. IA remains dedicated to working in tandem with HKSTP and other stakeholders to nurture a dynamic Insurtech and Open API ecosystem.

HKSTP has been at the forefront of catalysing Hong Kong’s thriving API ecosystem by enabling businesses to undergo transformative changes through data and technology. The recent introduction of the API Hub further solidifies its role as a dependable source of data and functional APIs for a wide range of industries.

Enterprises now have easy access to a vast array of market-ready data and digital solutions, while technology enablers can seamlessly connect with partners and customers. Additionally, HKSTP has established partnerships with 27 banks, providing access to over 1,200 Open Banking APIs, thereby enriching the API landscape and promoting further innovation in the financial sector.

The collaboration between HKSTP and the IA to launch the OpenAPI Platform for the Insurance Sector marks a significant milestone in the evolution of Open Insurance. This innovative platform is poised to reshape the insurance landscape by facilitating the seamless exchange of information and fostering collaboration among industry stakeholders.

As businesses and tech ventures embrace open APIs, the insurance sector is set to experience a wave of innovation and transformation, ultimately leading to more impactful financial experiences for all stakeholders involved. The dedication of both organisations to nurturing a vibrant Insurtech and Open API ecosystem further underscores their commitment to driving positive change within the industry. With the groundwork laid by this partnership, the future of insurance in Hong Kong looks brighter than ever.

The partnership between the Hong Kong Science and Technology Parks Corporation (HKSTP) and the Hong Kong Insurance Authority (IA) to launch the OpenAPI Platform for the Insurance Sector aligns with key goals of the HKSAR Government. It promotes innovation and technology development in the insurance industry, enhancing the efficiency and accessibility of financial services while fostering the growth of Insurtech.

The platform also contributes to financial connectivity and regulatory cooperation, supporting Hong Kong’s status as an international financial hub. Furthermore, it exemplifies the government’s commitment to digital transformation across industries, collectively positioning Hong Kong for sustained economic growth and global competitiveness.

OpenGov Asia earlier reported that Invest Hong Kong (InvestHK) soft-launched the FintechHK Community Platform, a centralised fintech platform to connect local and global fintech companies with Corporate, Investor, and Service Champions.

The platform is fully supported by the Financial Services and the Treasury Bureau (FSTB) and curated by InvestHK; the initiative comes as an extension of the Global Fast Track Programme, which garnered great industry participation in 2022.


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend