Entrepreneurship Leading Insurance Technology Innovation to Solve Industry Challenges

Full Article in Chinese

• Bachelor of Engineering (Honours) in Electronic and Communication Engineering
• Co-Founder & Chief Operation Officer, MediConCen

Kelvin, who studied Electronic and Communication Engineering at CityUHK, began his entrepreneurial journey during University. He believes that the key to sustaining passion in entrepreneurship is to identify personal interests and align them with recognised "pain points" in various industries. He now mentors the "HK Tech 300" innovation and entrepreneurship programme, sharing his experiences to inspire the next generation of entrepreneurs.

Kelvin founded Hong Kong's first insurance technology company using Hyperledger blockchain technology in 2018, aiming to tackle challenges in the insurance claims sector. This innovative approach is essential for both industry growth and customer protection. "To address the industry's common practice of investing significant manpower and time in claims processing, we developed a one-stop solution that integrates blockchain, artificial intelligence (AI), and optical character recognition. This automation reduces processing time by half and manpower by 20%, allowing customers to experience quicker claim resolutions and enhancing their confidence in insurance services."

He emphasises that entrepreneurship is about leveraging technology to drive innovation. His interest in IT, sparked by early exposure to electronic games, led him to choose the Electronic and Communication Engineering programme at CityUHK. "I believed that CityUHK's focus on integrating theory with practical application would enable me to apply my knowledge in a tech-related industry. The benefits from this learning experience exceeded my expectations."

Reflecting on his University years, Kelvin highlights how group projects fostered joint discussions and team research, sharpening his innovative thinking and problem-solving skills. He found joy in brainstorming with classmates, honing communication skills through intellectual exchanges, and building a collaborative spirit. These experiences fueled his passion for tackling challenges, a mindset that has served him well in his career. Even years after graduation, he maintains connections with professors, sharing updates on their professional fields and nurturing strong teacher-student relationships.

While innovation and technology are often linked to startups, Kelvin recalls his early attempts at entrepreneurship with classmates, focusing on smart cities and social innovation projects. However, these efforts lacked a clear goal. After graduation, he joined a large asset management firm in an IT role. When his supervisor took a leave of absence, Kelvin became the sole IT specialist in the department. This challenge allowed him to confront operational issues directly and gain the trust of his supervisor, enabling him to conceptualise innovative technological solutions.

Reflecting on past entrepreneurial endeavors that did not succeed, Kelvin believes the main issue was not treating them as full-time commitments. Until 2018, when blockchain technology gained traction, that he saw a viable opportunity. His brother, an actuary familiar with the insurance sector, suggested that innovative technology could enhance the claims process. Recognising the potential, Kelvin fully committed to entrepreneurship, successfully developing new technology that automated data verification and transfer. This significantly reduced claim waiting times and human errors, while also analysing suspicious cases to prevent fraud.

Today, Kelvin's company serves over 2 million insured clients and was recognised as one of Forbes Asia's 100 Companies to Watch in 2021. He is proud of the company's growth, having completed Series A funding last year, with total funding exceeding 100 million Hong Kong dollars.

Starting a venture is often the hardest part. Kelvin recalls the support he received from the Cyberport Incubation Programme and various entrepreneurial funds during his early days. The "HK Tech 300" programme, in particular, provided a vast network of entrepreneurs, facilitating experience sharing and partnerships. Now, as a mentor, he guides aspiring entrepreneurs through this programme, sharing his insights and offering timely advice.

To maintain enthusiasm over the years, Kelvin stresses the importance of continuous learning. "The market changes rapidly, and technology constantly evolves. Entrepreneurs must remain curious, explore the unknown, stay attuned to market trends, and engage in lifelong learning, applying their knowledge effectively." This mindset has been crucial for Kelvin as he navigates the ever-changing landscape of entrepreneurship.

（Published at 26 June 2025）