Peter Grimes, President and CEO of FWD Life Philippines, shares with AM Best TV his views on the growth of the insurance market in the Philippines, the challenges and opportunities of FWD being a new player in the country, and the company’s digital initiatives in the recently concluded 27th Philippine Insurance Conference in Manila.
In his interview, Peter discussed that the country’s growing insurance market is driven by the increasing middle-class population with the intention of saving for the future, which life insurance companies are capitalizing. He also shared that FWD Life Insurance Philippines’ main challenges as a new player are brand awareness and credibility. However, efforts are being exerted to overcome such challenges by being different as an insurance company, developing innovative products, having a good strategic partnership with Security Bank, and leveraging on digital channels.
Watch the full interview here: HTTP://BIT.LY/1OKRKBL