Asian Spectator

FWD celebrates unrivalled success as biggest insurance winner at Bloomberg Businessweek Financial Institution Awards 2018

  • Written by FWD

10 prestigious awards recognise insurer's comprehensive product proposition, digital strength and customer experience prowess

 

HONG KONG, CHINA - Media OutReach[1] - 31 May 2018 - FWD Hong Kong[2] ('FWD') was honoured with 10 prestigious awards at the Bloomberg Businessweek Financial Institution Awards 2018 ceremony, including five Excellence Awards and five Outstanding Awards, the most in the insurance category this year.

 FWD celebrates unrivalled success as biggest insurance winner at Bloomberg Businessweek Financial Institution Awards 2018
FWD's team celebrating unrivalled success as the most awarded insurer at the Bloomberg Businessweek Financial Institution Awards this year.

FWD celebrates unrivalled success as biggest insurance winner at Bloomberg Businessweek Financial Institution Awards 2018

The 10 awards won by FWD in the Bloomberg Businessweek Financial Institution Awards 2018.

In addition to 'InsurTech Company of the Year' Excellence Award, FWD also clinched the Excellence and Outstanding Awards for its ambitious InsurTech initiatives, innovative products and services, and leading customer service.

 

Ken Lau, FWD Managing Director of Greater China and Hong Kong Chief Executive Officer, said, "We are delighted by the outstanding results of the Bloomberg Businessweek Financial Institution Awards 2018. These multiple honours go a long way towards recognising the competitiveness, innovative nature and overwhelmingly positive market response to FWD's innovative products and services, attentive customer service, and trailblazing InsurTech initiatives. This significant achievement, which handsomely rewards our efforts across the company, would not have been achieved without our teams' passionate and constant dedication to our customers, and exceptional drive to consistently surprise and surpass market expectations."

 

FWD's 10 awards include:

  • FWD Drivamatics, the disruptive mobile app that rewards safe driving behaviour with competitive premiums, was once again widely praised for having challenged the status quo, claiming two Excellence Awards;
  • CANsurance cancer protection plan, providing future-proof and tangible benefits at affordable premiums, also earned two Excellence Awards for its competitiveness and the quality of its related marketing campaign, while the associated CANsurance series won an Outstanding Award in the health & protection category;
  • Digital commerce platform iFWD was recognised with an 'InsurTech Company of the Year' Excellence Award for its unrivalled success (iFWD had a 55% market share in Hong Kong's online direct life insurance market in 2017) in making customer experience of insurance products and services enjoyable, convenient and rewarding;
  • Crisis XDefender Supreme, which has generated impressive sales since its launch in July 2017, together with Life Impact Reliever, was awarded an Outstanding Award in the critical illness category; PREMIER THE ONECierge, the market's first pan-Asian, one-stop health management service for which FWD has partnered with numerous medical facilities across the region, also won an Outstanding Award;
  • Experiential platform FWD MAX, a customer engagement initiative where community members get access to content, rewards and experiences that are relevant to their passions, was rewarded with an Online platform Outstanding Award;
  • FWD's customer service was also acclaimed for its flexible and convenient multi-touch point approach, encompassing insurance solutions centres, 24-hour personalised Tele-claims Ambassadors, chatbots, 7-Eleven claims pay-outs, a one-stop eServices app and an online portal in addition to traditional channels.

 

Table: List of awards received by FWD at the Bloomberg Businessweek Financial Institution Awards 2018

Category

Winner

Award

Digital innovation

FWD Drivamatics app

Excellence

Integrated marketing (product/service)

CANsurance cancer protection plan

Excellence

InsurTech company of the year

iFWD

Excellence

Medical care

CANsurance cancer protection plan

Excellence

Mobile application usability

FWD Drivamatics app

Excellence

Critical illness

Crisis XDefender Supreme / Life Impact Reliever

Outstanding

Cross border insurance service

PREMIER THE ONECierge

Outstanding

Customer service

Customer service

Outstanding

Health & Protection

CANsurance series

Outstanding

Online platform

FWD MAX

Outstanding

About the Bloomberg Businessweek Financial Institution Awards 2018

The Financial Institution Awards are hosted annually by iconic finance magazine Bloomberg Businessweek/Chinese. In 2018, 10 judges from the industry and academia assessed submissions from the banking, insurance and investment banking sectors and ranked them according to four criteria, namely market performance, growth, development, and business strategy.

 

About FWD Hong Kong & Macau

FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam and Japan. In Hong Kong, FWD offers life and medical insurance, general insurance, employee benefits, and financial planning. The life insurance and general insurance operating entities have been assigned strong financial strength ratings by international rating agencies -- FWD Life Insurance Company (Bermuda) Limited is rated "A3" by Moody's and "A" by Fitch; and FWD General Insurance Company Limited is rated "A" by Fitch.

 

FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.

 

Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group.

 

For more information please visit WWW.FWD.COM.HK[3] and WWW.FWD.COM.MO[4].

References

  1. ^ Media OutReach (www.media-outreach.com)
  2. ^ FWD Hong Kong (WWW.FWD.COM.HK)
  3. ^ WWW.FWD.COM.HK (WWW.FWD.COM.HK)
  4. ^ WWW.FWD.COM.MO (WWW.FWD.COM.MO)

Authors: FWD

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