Insurance products are complicated, with complex product details and terms. The marketing materials of insurance companies are sales focussed and lack standardised disclosures of important product information, making it difficult for consumers to compare products. 10Life sets a unified scoring standard to compare insurance products. The scores and rankings enhance the transparency in insurance, making it easier for consumers to compare products and make decisions.

To cover as many products in the market as possible, 10Life collects product information from various sources, including but not limited to official websites of insurance companies, licensed insurance advisors (including agents and brokers) and directly from insurance companies.

10Life regularly collects product information from the Hong Kong market, while some insurance companies provide us with new product information and product updates. 10Life actuaries then analyse the insurance products and produce the scores based on the specific scoring methodologies by product category. 10Life Insurance Ratings are published on the 10Life website and updated regularly for free access to consumers.

10Life rates insurance products based on factors that matter the most to the consumers. However, when choosing insurance products consumers need to consider many aspects. 10Life Insurance Ratings do not take into account unquantifiable factors such as brand preference, market share, reputation, service levels, ease of claims, etc.. In addition, the scores are based on generic cases which are for reference only, and individual consumer needs have not been considered.

The 10Life scoring methodologies are publicly accessible on the 10Life website. 10Life actuaries review and update the methodologies regularly based on the relevant product features and overall market standards, to ensure the scores remain reasonable for the different product categories.

The 10Life product scoring process is professional and independent, without favouring any particular insurance companies. Insurance companies can understand the scoring methodologies and enhance their product standards accordingly to improve their product scores.

For the same product category, 10Life product scores can be compared directly. For different product categories, due to differences in the scoring factors and calculation models, the scores cannot be compared directly.