Insurance terms are complex and misleading, with no independent comparison tool

Many Hong Kongers report that insurers present policy terms in complex, hard-to-grasp language and mix guaranteed with non-guaranteed returns, making it difficult for consumers to understand the actual returns and risks — and leaving older family members especially prone to being misled into unsuitable products. Respondents further note that claims often run into one obstacle after another, refused on grounds such as "ineligibility" or "procedural issues", resulting in lost premiums.

The market lacks independent, easy-to-understand tools for comparing and analysing insurance products, so respondents are left to use AI tools such as ChatGPT to interpret policy terms themselves — a sign of the urgent need for a trustworthy third-party assistance platform. This reveals huge demand among consumers for transparent, impartial insurance-information services, offering a market opening for fintech or consumer-protection platforms.