March 2026
In Hong Kong, licensed insurance intermediaries serve as a vital conduit between the insurance buying public and the insurance sector. They are the insurance industry’s outward face. When a member of the public engages with the insurance sector, they invariably do so through a licensed insurance intermediary. This means that the image of the insurance sector in Hong Kong – whether positive or negative – is set by the public’s perception of the 120,000 licensed insurance intermediaries who currently work in the sector and the quality of services they provide.
What, then, is that public perception? Many working within the insurance sector, have their own views on this. But as the regulator, we thought it best to ask the people who hold the answer: the public.
In 2025, the IA conducted two focus group sessions, attended by members of the public, to ascertain the general public's view on “Services of Licensed Insurance Intermediaries.” This article reflects on the key insights gathered during those focus groups.
Essentially, open feedback was elicited on personal experiences of dealing with licensed insurance intermediaries. A range of views was put forward, from very positive experiences, to some experiences that engendered a need for improvement. We set the broad findings below.
Those participants who had a positive experience, focused on the personalized advice they were given by insurance intermediaries tailored to individual circumstances. The way in which insurance intermediaries took into account clients' financial situations, needs, and goals, as a basis for determining a suitable recommendation, was cited as the core skill and expertise of an insurance intermediary that the public should expect.
Participants expect insurance intermediaries to possess extensive knowledge regarding various insurance products, relevant laws, and market trends. They emphasized the value of personalized advisory services, which empower clients to make informed decisions tailored to their unique needs and circumstances. Those who felt they had received this, cited their image of insurance intermediaries and the insurance sector as a whole, as positive.
Participants also expect insurance intermediaries can offer product comparisons and cost-effective analysis, helping clients choose more suitable and advantageous options. This variety enables consumers to identify the best products without having to navigate overwhelming market information on their own. Again, participants who had dealt with insurance intermediaries that provided them with meaningful comparisons and analysis and were able to explain these, came away with a positive view.
Participants value insurance intermediaries who are responsive and available to answer questions in relation to insurance products or provide support throughout the claim process. They shared that good insurance intermediaries often stay in touch with clients to make sure their needs continue to be met. Participants noted that insurance intermediaries’ expertise in navigating complex claims processes significantly enhances the client’s experience. The claim stage is often where the strength of the relationship with an insurance intermediary produced visible value, and those who experienced this from their insurance intermediaries (even with explanation of why certain amounts were not reimbursed by insurers) came away with a positive experience.
Participants believed that insurance intermediaries who adhere to ethical standards would enhance the industry's reputation. If a participant felt that they had been provided with a quality service by an insurance intermediary who had demonstrated that they were acting in the participant’s interest, then the participant would have no hesitation (and often did) relay their positive experience to friends and family and recommend the intermediary in question. Organically, this was a way in which the good reputation of insurance sector could be enhanced and spread.
On the negative side, insurance intermediaries who did not fully comprehend the features of the product they were recommending, resulted in a negative experience for a client. Whether through providing misinformation or causing confusion to their client, this created a poor impression. Participants felt that a lack of expertise can result in making poor decisions, eroding trust in insurance intermediaries and insurance companies.
Insurance intermediaries who do not communicate effectively can leave clients feeling abandoned. Participants revealed that this usually happens when clients need assistance or have queries after the sale of insurance products. Poor communication can lead to a negative reputation for both the insurance intermediaries and insurance companies. Participants also emphasized that this is particularly detrimental during the claims process. Claims are often the most important stage of the insurance experience - when customers most need timely updates, clear explanations and practical support. When communication breaks down at this point, it can severely undermine trust and satisfaction.
The participants also expressed frustration when they later discovered some fees or conditions in the insurance contract that were not clearly explained at the outset, where the insurance intermediaries only provided limited information based on the leaflet/ brochure. This may exacerbate feelings of negative impression and widen the gap between ethical and unethical insurance intermediaries.
To be clear, the above information was obtained through the feedback from focus group participants and does not represent the IA’s view and/or standpoint.
With that said, the IA has already made its position on licensed insurance intermediaries very clear. In the Preface to the IA’s Codes of Conduct, we state that the Code “sets out fundamental principles of professional conduct which buyers of insurance are entitled to expect in their dealings with licensed insurance [intermediaries], reinforcing the bedrock of trust which serves as the foundation for a healthy, competitive and efficient insurance market.” In other words, in our view, there is a direct correlation between professional conduct being displayed by licensed insurance intermediaries and increasing public trust in the insurance market. Similarly, conduct which falls short of these professional standards can undermine public trust.
The takeaway then is simple. For the Hong Kong insurance industry to thrive, insurance intermediaries must display ethical and professional conduct in every action they take, prioritizing transparency and acting in the customer’s best interests. This is how trust is earned, built and reinforced. As financial awareness grows and clients become more discerning, insurance intermediaries will find their conduct increasingly scrutinized by those they serve. This is a challenge that every professional and ethical licensed insurance intermediary should welcome.