FWD Life Insurance Corporation (FWD Life), the newest life insurer in the Philippines, plans to expand its brand presence following its launch in the country late last year.
Driven by its vision and brand promise, FWD Life aims to change the way people feel about insurance by connecting with more customers nationwide and providing them innovative and affordable products that meet their lifestyle needs.
FWD Life is set to launch a number of hubs in key cities and provinces nationwide, especially those with flourishing trade and business activities and a sizeable rising middle class. These hubs will house FWD’s growing team of financial wealth planners who will offer personalized and relevant insurance solutions to their customers. They will also use technology and sales tools that will enable them to deliver an intuitive sales experience and potentially an entirely paperless sales process.
“We remain highly optimistic for the Philippines life insurance sector generally as well as meeting our initial business objectives as our first full year of operations in the Philippines gets fully underway. Since last year, we have established our main office and customer service hub, introduced the initial set of products, built our initial technology platforms and partnered with a leading universal bank for our Bancassurance business. This year, we now aim to reach more Filipinos by establishing a presence in key locations in support of our first phase of growth plans,” said FWD Life President and Chief Executive Officer Peter Grimes.
FWD Life also aims to significantly expand its agency network by the end of the year. It continues to look for more dynamic and seasoned financial wealth planners to reach this goal.
Another priority for FWD Life is to launch further new products and services throughout the year, which are tailored to meet consumers’ needs in the 21st century and to provide them with the right solutions that are relevant for them, at different stages of their life.
Arriving in the Philippines in early 2014, FWD is the insurance arm of Pacific Century Group, an investment group established in 1993 with interests in financial services, telecommunications, real estate, and other investments in Asia. FWD is the first in nearly a decade to be granted a life insurance license by the Insurance Commission of the Philippines. FWD launched its commercial operations in September 2014.
FWD’s business spans the Philippines, Hong Kong & Macau, and Thailand, with a brand presence in Indonesia, offering life insurance services. FWD’s focus is to leverage technology to enhance customer experience, deliver innovative products, and invest in talent to create a leading pan-Asian life insurer that changes the way people feel about insurance.