College of Business - City University of Hong Kong AACSB International EQUIS - European Quality Improvement System


With the rising demand for the design of personalized insurance products and the wide use of innovative technologies, the insurance industry will have to experience a digital transformation, and such revolution will be able to provide more tailored products, more interactive and personalized user experience to their customers for better services.

To invite for more innovative insurance ideas, College of Business at the City University of Hong Kong is partnering up with HSBC Life (International) Limited (“HSBC Life”) to initiate the first ever HSBC Life Insurance Innovation Competition. University students will be invited to form teams and come up with innovative life insurance products/services that could help insurers better serve people and meet the evolving needs of customers in the new age, and to propose innovative ideas on how HSBC Life can enhance their product innovation, improve on product/process development cycle and ultimately increasing revenue and enriching customer satisfaction.


10 internship at HSBC Life for the qualified winners

A total of HKD 110,000 prizes sponsored by HSBC Life

Outstanding concepts will have the opportunities to be implemented by HSBC Life in their insurance development

Networking with HSBC Life’s senior management and mentors by academia
Case sharing on the macro view of the insurance industry landscape, gaps and new frontiers
Information systems training on big data management and artificial intelligence
Emerging knowledge in smart life insurance and sharing of business cases


HSBC Life is an indirect wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited. HSBC Life is authorised and regulated by the Insurance Authority of the Hong Kong SAR to carry on long-term insurance business in the Hong Kong SAR. As one of the leading life insurers in Hong Kong, HSBC Life offers a wide range of life insurance products, including annuities, to retail and commercial customers in Hong Kong through HSBC banking channels and third party brokers. HSBC Life provides tailored solutions to meet the protection, education, retirement, managing growth and legacy planning needs of its customers.



The College of Business at City University of Hong Kong is a globally-oriented business school, producing innovative and impactful business knowledge, and nurturing leaders for a sustainable future, also a key business education hub in China for the world. 


The Department of Information Systems is a leading academic unit dedicated to student-centric learning and knowledge transfer, consistently ranked among the top five in IS around the globe. Their BBA programs (GBSM and IFMG) aim to nurture students to become global system managers and smart technology business professionals.

The Department of Economics and Finance provides solid training in both the theory and application of economics and finance. The Department aims to train graduates with cutting-edge knowledge in modern economics and finance and to provide Hong Kong with the young financial executives, economists, and business analysts it needs. The mission of the Department is to be a center of excellence in research and teaching, using economics and finance for business as well as public sector decision-making in Hong Kong, Mainland China, and other Asia-Pacific economies.


3 - 5 students per team, each student can only be registered to one team
A current full-time undergraduate student who is registered under an UGC funded university
Students can freely form teams from different universities, discipline and years of study
Assign a Team Leader for future communications


Training Workshop #1 - Macro view of the life insurance industry 3 Oct (Thu)
Training Workshop #2 - Big data management training 11 Oct (Fri)
Training Workshop #3 - Artificial intelligence training 16 Oct (Wed)
Training Workshop #4 - Smart life insurance and business cases 21 Oct (Mon)
InsurTank 23 Oct (Wed)
Team Registration and Proposal Submission 3 Nov (Sun)
Announcement of Shortlisting Results Early Dec
Presentation Submission 29 Dec (Sun)
Pitch and Award Ceremony Jan


Insurance Award - Innovation
Gold HKD 25,000 +
HSBC Life internship opportunities
Silver HKD 15,000 +
Fast track internship application
Bronze HKD 10,000 +
Fast track internship application
Insurance Award – InsurTech
Gold HKD 25,000 +
HSBC Life internship opportunities
Silver HKD 15,000 +
Fast track internship application
Bronze HKD 10,000 +
Fast track internship application
Merit Awards


Best Customer-centric Solutions Award HKD 5,000
Best Sustainable Solutions Award HKD 5,000

 Note: All prize values are calculated per winning team

HSBC Life Internship Opportunities

The Gold winning teams will be offered to join the six-month “2020 HSBC Life Internship Programme”; while Silver and Bronze winning teams will be eligible to apply for the Programme through fast track application.  HSBC Life will advise details of the test and interview schedule duly.

Offers will be subject to students’ online test and interview results.
Qualified winners will be required to sign an employment letter and redeem their 6-month internship in 2020.


Each team is required to develop an innovative plan on how HSBC Life could implement changes in their approach to the organization, process, products and services so that they could deliver stronger product innovation, reduce product development cycle time and ultimately increase revenue and improve customer satisfaction.

Phase 1: Choose a stream (1) Innovation or
(2) InsurTech
Phase 2: Concept Recommend an innovative plan based on your chosen stream from Phase 1.
Phase 3: Protocol Map out an implementation plan for your innovative plan proposed in Phase 2.
Proposal requirements
Executive Summary (max. 1 page)
Problem statement
Innovative insurance or technology solutions an protocols
Formatting requirements
Font size: 12
Number of words: 1,500 – 2,000  
Language: English
Format: PDF
Tables, charts, images and references can be inserted as part of the proposal, no need to separate out as appendix
File name should be named after your team name (i.e. whizkid_proposal)
The PDF file should be saved at a cloud storage and submitted via a shared link

Proposal Submission

3 Nov 2019 (Sunday)

Shortlisting results will be announced by email in early December. Only shortlisted teams will be invited to submit a presentation for pitching. Presentation requirements to be announced in November.

Enquiries | 3442 2137 or 3442 5428 


Workshop 1 - Macro view of the life insurance industry
Presented by:
Edward Moncreiffe | HK Chief Executive Officer | HSBC Life
K C Cheung | Head of Products | HSBC Life

3 Oct 2019 (Thu)
5:00 PM – 7:00 PM  
8/F Lau Ming Wai Academic Building, CityU

Workshop 2 - Big data management training
Presented by:
Dr. Joseph Kong | Graduate Teaching Assistant, Department of Information Systems | City University of Hong Kong

11 Oct 2019 (Fri)
7:00 PM – 9:00 PM
1507, Li Dak Sum Yip Yio Chin A Building, CityU

Workshop 3 - Artificial intelligence training
Presented by: 
Dr. Huaiqing WANG | Expert in Artificial Intelligence

16 Oct 2019 (Wed)
7:00 PM – 9:00 PM
1503, Li Dak Sum Yip Yio Chin A Building, CityU

Workshop 4 - Smart life insurance and business cases
Presented by:
Dr. Michael Wong | Associate Professor of Finance, College of Business | City University of Hong Kong

Overview of the latest technologies and business models for marketing insurance, pricing insurance contracts and processing insurance claims.

21 Oct 2019 (Mon)
7:00 PM – 9:00 PM
2505, Li Dak Sum Yip Yio Chin A Building, CityU


The InsurTank is an interactive mentorship think tank for students to consult for constructive feedback and brainstorming ideas for their proposal/concept from multiple perspectives prior to the first round of submission.   

Date 23 Oct 2019 (Wed)
Time 4:00 pm – 7:00 pm
Venue 8th Floor, Lau Ming Academic Building, City University of Hong Kong
Mentors Academia

How does the InsurTank works?

To maximize the InsurTank, each team will be assigned to a mentor for consultation at the mentorship event.  Mentors will then be rotating at every 20 - 30 minutes so that students can receive feedback from multiple angles.  At the end of the InsurTank, students are encouraged to take a proactive approach in asking mentors for contact details for follow-up questions. 

Mentors List

Details to be followed.


Innovation Stream:
Use of Strategy (20)
InsurTech Stream:
Use of Technology (20)

Strategic thinking and planning in life insurance development

Increment of customer interactions

Improvement in user experience

Creativity (40)
Ability to come up with original and innovative ideas, solutions, and protocols
Customer-centricity (20)
Fulfilling current and future customer needs and assuring the best customer experience before and after sales experience
Impact on Society (20)
Sustainability in risk management, customer protection, regulations and social influence
Commercialization Potential (20)
Compatibility, scale, value, feasibility of the idea and protocol


  1. The personal data collected from you will be used for the competition purposes; the data collected will be kept confidential for up to 3 years; and they may be transferred to relevant parties for the purposes of the HSBC Life Insurance Innovation Competition only. 
  2. By entering the competition, you agree that all the information submitted is true and accurate, and the submitted whitepaper and presentation do not infringe any third party intellectual property rights.
  3. By entering the competition, you agree to grant HSBC Life a non-exclusive, irrevocable, perpetual, royalty-free and worldwide license to use, edit, translate, copy, publish or display all or part of your submission without the prior consent of the entrants.
  4. Both HSBC Life and City University of Hong Kong will be taking photos and videos at the training workshops, pitch and award ceremony for publicity and reporting purposes. By attending these events, you agree to grant permission to HSBC Life, City University of Hong Kong and its authorized representatives to use your team details, photograph, voice, and/or other likeness for publicity and reporting purposes in all media without notice or approval.
  5. If any disputes occur, decision of HSBC Life shall be final.
  6. All the expenses incurred in this Competition will be responsible by the student teams.
  7. All the shortlisted teams will be required to attend the pitch presentation in person.  If any team member is unable to attend the pitch and/or the award ceremony due to extenuating circumstances, the team should report it to the event organizer immediately and seek approval from event organizer to continue the competition.   Approval will be subject to the supporting documents provided.  At least 90% of your team members need to be present in order to continue with the competition.  All participants must attend the presentations by other teams and the award ceremony.