HONG KONG SAR -
Media OutReach Newswire - 25 October 2024 -
FWD
Hong Kong ("FWD") is honoured to have won eight awards at the Hong Kong
Insurance Awards 2024, including four grand awards and four top-three
recognitions, making it the insurance company with the most corporate
category grand awards. These accolades recognise FWD's customer-led and
digitally enabled approach, focusing on the local market while seizing
opportunities in the Greater Bay Area.
FWD has experienced strong growth momentum in the first half of 2024.
Ken Lau, Managing Director of Greater China and Hong Kong Chief Executive Officer, FWD said,
"We are delighted to have won eight awards at the Hong Kong Insurance
Awards 2024, one of the most prestigious awards in the industry. The
results highlight the many ways in which FWD represents excellence in
the eyes of the distinguished judging panel. FWD constantly seeks
breakthroughs, innovates new products and services, and uses digital
technology to both nurture talent and enhance customer engagement to
meet market demand. These efforts have driven significant business
growth and placed us among the top five insurers in Hong Kong
1.
Going
forward, we remain fully committed to changing the way people feel
about insurance and maintaining our industry-leading position."
Understanding customers' needs for developing innovative products received multiple recognitions
FWD's "Crisis OneMaster" series won the grand award in the "Most
Innovative Product/Service Award – Health" category. This marks the
sixth consecutive year that FWD's health protection products have been
recognised in this category, demonstrating the strength and innovation
of FWD's products. The series
2 continues the concept of family protection
3,
providing coverage for three generations and helping the "Gen Sando"
cope with potential elderly critical illness protection. In addition,
"FWD Care" provides a wide range of services to support and ensure
customers are well taken care of throughout the journey from prevention,
treatment to recovery.
Furthermore, FWD ranked top-three in the "Most Innovative
Product/Service Award - General Insurance" category for its innovative
"MyTravel Insurance"
4. It also ranked "No.1 in the travel insurance" by the insurance comparison platform 10Life
5.
This travel insurance caters to the needs of travellers by providing
coverage towards transportation and accommodation when rescheduling or
cancelling trips for any reasons
6 before departure, demonstrating FWD's customer-led approach.
Leading the industry's digital transformation and became a driving force for innovation
FWD won all digital-related awards once again, including applying
artificial intelligence ("AI") and strengthening partner relationships
through digitalisation. In response to growing customer demand for AI
applications, FWD actively explores the use of AI in underwriting and
claims services to streamline processes. This resulted in FWD being
awarded for the "Excellence in Digital Transformation Award" for its
"Digital Empowered Partnership and AI Operation" project, marking the
second consecutive year FWD has received the grand award. This project
integrates internal and external data to enhance service efficiency and
customer satisfaction, and drive business growth.
FWD also prioritises digital marketing excellence. The "One for All"
digital marketing campaign leverages data-driven strategies to address
the diverse needs of various target audiences while revolutionising
communication models. This campaign has successfully enhanced brand
awareness and marketing efficiency, earning FWD the "Outstanding Digital
Marketing Campaign Award" grand award for the third consecutive year.
FWD fosters strong customer engagements by organising life experiences
and cultural activities, offering reward programmes, and providing
valuable health-related information. Through creative interactions on
the FWD MAX lifestyle experience platform and connecting the community
with the conservation and revitalisation of FWD HOUSE 1881, FWD won the
grand award in the new award category "Excellence in Customer
Acquisition and Engagement Award."
Committed to cultivating talent development, community care, and building foundations for business expansion
FWD is committed to nurturing talent. Through comprehensive and
systematic training, FWD grows alongside its tied agency force to
achieve outstanding results. FWD's "STAR-maker programme (TTPS)"
training programme was listed as top-three finalist in the "Outstanding
Training & Development Award", marking the third consecutive year
that FWD has been recognised in this category. The programme targets
promising talents in Mainland China, is highly beneficial to FWD's
Greater Bay Area strategy. FWD is also committed to building a
professional tied agency force and cultivating future leaders, an
achievement that has earned ample recognition from the judges.
FWD Regional Director, Charleson Ng, was among the top-three finalist in
his first time competing for "Outstanding Agent of the Year." With
extensive experience in the insurance industry, Ng upholds professional
standards in providing customers with insurance and financial services,
transforming teams, and embracing the latest technologies.
In addition, Dr. Lester Lee, FWD Executive Regional Director, was among
the top three finalist in the "Outstanding Community Intermediary of the
Year", demonstrating FWD's unwavering commitment to community care and
bringing positive changes.
The Hong Kong Insurance Awards, organised by the Hong Kong Federation of
Insurers, is a highly respected award which recognises outstanding
achievements and innovative performance among the insurance industry in
Hong Kong. This year's success continues FWD's winning streak at the
Hong Kong Insurance Awards last year, and follows FWD's record-breaking
performance at the Bloomberg Businessweek/Chinese Edition "Financial
Institutions 2024" earlier this year.
Appendix - List of FWD Hong Kong's wins:
Award categories
|
Awards
|
Awardees/ winning items
|
Project highlights
|
Excellence in Customer Acquisition and Engagement Award
|
Grand award
|
FWD MAX and FWD HOUSE 1881
|
FWD MAX life experience platform provides customers with
personalised experiences and enhances customer engagement through
convenient digital interaction and transaction functions. Since its
launch in 2017, its membership has recorded double-digit percentage
growth every year. FWD HOUSE 1881 is a cultural landmark converted from
the former Hong Kong Marine Police Headquarters. FWD conserve this
important cultural landmark and enhance its connection with the
community.
|
Excellence in Digital Transformation Award
(Awarded for four consecutive years)
|
Grand award
|
Digital Empowered Partnership and AI Operation
|
FWD has expanded its ecosystem through API technology to include
existing distribution channels and partners outside the insurance
industry. The ever-expanding ecosystem enables FWD to leverage AI and
data analytics to gain valuable insights and support decision-making.
Underwriting and claims are made more efficient through AI-driven and
highly effective hybrid models.
|
Most Innovative Product/Service Award - Health
(Awarded for six consecutive years)
|
Grand award
|
Crisis OneMaster Series
|
Continuing the innovative family protection concept3,
it provides critical illness protection and support services that truly
cover three generations of the family and can help the "Gen Sando" cope
with potential elderly illnesses in the future. In addition, FWD Care
provides a wide range of services to support and ensure customers are
well taken care of throughout the journey from prevention, treatment to
recovery.
|
Outstanding Digital Marketing Campaign Award
(Awarded for three consecutive years)
|
Grand award
|
"One for All"
|
The "One for All" campaign highlights the advantages of the
online insurance platform and caters to customers' all-round protection
needs, successfully increasing website traffic, search volume, and
business, which is crucial to improving overall business performance.
|
Most Innovative Product/Service Award - General Insurance
|
Top-three finalist
|
MyTravel Insurance
|
Unlike general travel insurance products in the market, MyTravel Insurance4 provides coverage for changing or cancelling travel plans for any reason6 before departure.
|
Outstanding Training & Development Award
(Awarded for three consecutive years)
|
Top-three finalist
|
STAR-maker program (TTPS)
|
FWD partners with top academies such as INSEAD and Fudan
University, offering specialised and professional trainings to tied
agents. This allows them to have a
global and Chinese market dynamics perspective.
|
Outstanding Agent of the Year
|
Top-three finalist
|
Charleson Ng, Regional Director at FWD
|
With extensive experience in the insurance industry, Ng upholds
the highest professional standards in providing customers with insurance
and financial services.
|
Outstanding Community Intermediary of the Year
(Awarded for two consecutive years)
|
Top-three finalist
|
Dr. Lester Lee, Executive Regional Director at FWD
|
Dr. Lee has been in the insurance industry for nearly 20 years
and was the first Executive Regional Director of FWD. He promotes a
positive culture and actively leads the team in community service and
volunteer work.
|
1. According to Provisional Statistics on Hong Kong Long Term Insurance
Business - January to December in 2023, Insurance Authority of Hong
Kong, 《Pi Financial Services Intelligence report》- December 2022 and
December 2023, as well as FWD's own assessment based on its
understanding on the statistics and market information, FWD ranks top
five in new business case count, net growth of life insurance
intermediaries' headcount, tied agency channel new business FYP,
brokerage channel new business FYP, bancassurance channel new business
FYP, as well as online and direct platform new business case count.
2. The Crisis OneMaster/Crisis OneMaster Pro is underwritten by FWD Life
Insurance Company (Bermuda) Limited (incorporated in Bermuda with
limited liability). The above information is for reference only and does
not contain the full terms and conditions, key product risks and full
list of exclusions of the policy. For the details of benefits and key
product risks, please refer to the
product brochure ; and for exact terms and conditions and the full list of exclusions, please refer to the policy provisions of the plan.
3. Upon choosing "Family Booster" optional benefit.
4. This product is underwritten by Bolttech Insurance (Hong Kong)
Company Limited ("bolttech Insurance"), which is authorized and
regulated by the Insurance Authority to carry on general insurance
business in Hong Kong. FWD Financial, is an appointed and licensed
insurance agency (License No. FA2568) of Bolttech Insurance, and is
registered under the Insurance Ordinance (Chapter 41 of the Laws of Hong
Kong) to act as an agent and distributor of general insurance products
in the Hong Kong Special Administrative Region. This product is only
available in Hong Kong and for sale to Hong Kong residents only. It is
only applicable to travel originating from Hong Kong.
5. "No. 1 in the travel insurance" is provided by 10Life. 10Life
calculates the estimated average coverage ratio and assigns the rating
based on the public information shared by insurance companies. For more
details regarding the rating, please refer to the 10Life website
(https://www.10life.com/zh-HK/blog/Comparing-Travel-Insurance). The
information provided is based on the data from the 10Life website which
has not been independently verified by FWD Financial. FWD Financial
makes no representations or warranties and accepts no responsibility or
liability as to the accuracy, completeness or fitness for any particular
purpose of the information. FWD Financial shall not be responsible or
liable for any loss or damages arising from the use of or reliance on
such information.
6. Applicable to MyTravel Insurance – Superior only. To claim under
cancellation of journey or change of travel dates for any reasons, your
policy must be purchased before or within 7 days from the date you make
your initial payment or deposit for your trip, and the
cancellation/change must be made prior to the original departure time.
Please refer to the policy terms, conditions, and exclusions for
details. Re-scheduled travel duration days must be equal to or less than
the original policy period. If it is less than the original policy
period, there will be no refund. The change of travel date must be made
prior to the original departure time.