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Manila, Philippines, 2 July 2020 – FWD Life Insurance Corporation (“FWD Insurance”), part of pan-Asian FWD Group, continued its higher-than-industry growth momentum in 2019 as it reported total premium income of Php 9.55 billion for the year, a 25% increase from its total premium income of Php 7.65 billion in 2018.
The insurer’s agency sales channel continued to expand during the year, with 24% increase in number of advisors. Meanwhile, its Bancassurance Financial Solutions Consultants (FSC) sales force also increased, enabling the insurer to service more customers of Security Bank, FWD’s strategic bank distribution partner.
FWD Insurance increased its geographical footprint in 2019 with the addition of three new business hubs in key cities across the Philippines. The new business hubs are in Binondo, Angeles City (Pampanga), and Valencia City (Bukidnon). These bring the total number of FWD business hubs to 17 as of yearend.
Innovative product launches and partnerships
FWD Insurance also launched product innovations in 2019, such as the KanDüü product suite on FWD’s Online Shop. KanDüü plans—KanLive life coverage, KanMend critical illness coverage, and KanGuard accident & terrorism coverage—reinvent the experience of purchasing insurance digitally through FWD’s Online Shop (shop.fwd.com.ph), while allowing customers to be rewarded for being financially protected.
Towards the end of 2019, the insurer also launched its Expressway Sponsorship Program in partnership with AC Infrastructure Holdings Corporation (AC Infra), fully-owned subsidiary of the Ayala Corporation (AC), unveiling the FWD-Muntinlupa-Cavite Expressway (MCX). Under this agreement, the first of its kind for a Philippine insurer, FWD Insurance seeks to elevate the expressway as a symbol of the nation’s “road to progress”.
“Off the back of our strong business results in 2019, we remain committed to deliver best-in-class customer experience, supporting our growing client base amidst the COVID-19 pandemic,” Li Hao said. “Guided by our strong and bold vision, we will strengthen this with compassion and malasakit. FWD Insurance will continue to develop innovative customer propositions and increase service excellence to better serve the country’s evolving protection needs.”
FWD Life Insurance Corporation
Rochelle R. Vandenberghe
Vice President, Head of Marketing
FWD Life Philippines
(T) +63 2 8558 7306