Hong Kong online pet insurer raises $25.5m in funding round
Hong Kong based insurtech OneDegree has secured $25.5m in a series A funding round to launch its digital pet insurance platform. The insurance will be offered purely online and will encompass general insurance products focusing on medical cover. OneDegree hopes to insure half a million cats and dogs; with only 3% of cats and dogs currently insured in Hong Kong there is potential for growth. The firm must wait for regulatory approval before offering digital pet insurance.

Just 3 per cent of Hong Kong’s dogs and cats are insured, compared to 20 per cent in the UK. Photo: Xiaomei Chen