1. Supervision system and policy: The insurance industry in Hong Kong is supervised by the Hong Kong Office of the Commissioner of Insurance. The regulatory environment is relatively international and market-oriented, and insurance companies have greater freedom in product design and pricing. The insurance industry in Chinese mainland is strictly supervised by the Banking Insurance Regulatory Commission of China, which follows the unified industry norms and standards, and the product design, pricing and sales process of insurance companies are subject to more restrictions and guidance.
2. Product types and flexibility: Hong Kong's insurance market provides more diversified insurance products, including investment insurance such as savings plans and universal life insurance, and the terms are often more flexible. Although the mainland insurance market is also developing, in contrast, traditional life insurance products are mostly and investment insurance is relatively limited.
3. Health notification and underwriting: Hong Kong insurance usually requires more detailed health notification at the underwriting stage. Once the insurance is successful, the subsequent claims procedure may be relatively simple. The requirements for health information in mainland insurance may be loose, but disputes may arise due to insufficient health information in the early stage during the claim settlement process.