The Future of Insurance Is Here: Inclusive, Easy, and Fun

To the young Filipino, the term “insurance” is enough to make them cower in pressure over the realities and responsibilities that this aspect of adulting brings. Traditionally, it’s complex and daunting, enough to push people away from availing of the contract. This is exactly what FWD Life Insurance aims to change and to remind individuals that insurance doesn’t have to be such a scary thing to get into (it really isn’t, we promise!). The company launched its very first Innovation Fest at Xylo at the Palace in Uptown, Taguig, last August 22, 2023, setting up its upcoming 10th anniversary in the industry since its inception in 2014.

FWD Philippines Chief Life Operations Officer Judith Baliton and Chief Marketing and Digital Business Officer Roche Vandenberghe

The event highlighted the trailblazer company’s two core principles: people-centered design thinking and technology that is relevant to the ever-changing needs of Filipinos. Various innovative products, tools, services, and initiatives were presented, with financial inclusivity at the heart of literally every proponent. Everything was pretty easy (and fun!) to understand, from the interactive product display and digital freedom wall to the speakers’ engaging speeches and the program itself, the FWD Innovation Fest was the perfect opportunity for young people to grasp just how important it is to have financial security.

FWD Philippines President & CEO Antonio Manuel “Jumbing” De Rosas

FWD Philippines Chief Information and Transformation Officer JC Principe

Guests got to hear from FWD’s top executives such as FWD Philippines President & CEO Antonio Manuel “Jumbing” De Rosas, and Chief Information and Transformation Officer JC Principe, to name a few. The speakers provided a rich and clear glimpse into FWD’s brand promise which is to #Celebrateliving by helping people feel confident in their financial decisions as they live their lives without hesitation.

The People-Centered Design

If you look at the numbers, less than 2% of Filipinos have insurance. That’s a glaring figure that goes to show that having insurance just isn’t a priority for most people when it should be! After all, accidents happen when we least expect them, and it’s not like we’re able to schedule when we get sick, right? The problem ever since is how people view insurance, which happens to be the traditional worldview—messy paperwork, technical jargon, and elaborate policies, resulting in an overwhelming jumble of even more problems that people just don’t want to tolerate.

FWD Philippines Head of Digital Commerce Johdel Ocampo

The cool thing about FWD is that they’ve managed to make the act of applying for insurance into a relatable practice worth tolerating thanks to their people-centered design thinking. It’s all easy peasy; FWD products are easy to understand (no nosebleed words, yay!), easy to buy (super simple processes!), and easy to claim (goodbye hassle!). Everything is digital, too!

Tech-Forward Innovation

Since everything is digital, policyholders no longer have to deal with physical documents and records. With innovative tech solutions at the forefront of FWD’s people-centered design thinking, a hassle-free insurance journey is now a reality. Traditionally, you’ll have to go to the insurance company’s office just to speak with an advisor and browse through policies and packages. Now, you get to shop for policies that fit your needs and lifestyle minus the pressure from the comfort of your home via an online platform, like FWD’s online shop. With its visually appealing and straightforward interface, it’s easier and more accessible now to digest each policy and see what inclusions they cover.

During the event, two tech-forward services powered by the FWD AI engine were unveiled: the FWD AI Protection Score which suggests relevant products to current policyholders to enhance their financial health coverage for added security, and the People Like You feature which is available for everyone through FWD’s AI Chatbot Fi, a first-in-the-market tool that allows customers to discover their protection gaps and benchmark their existing coverage against people with similar profiles for bigger-picture-context.

Another unique innovation by the company is its Omne by FWD App (Android, iOS), a supercharged two-in-one app that helps the user achieve real-life goals and monitor insurance plans. With features such as daily health checks, curated playlists, and mini-games, the software seamlessly blends lifestyle and policy management into one convenient and pleasurable experience.

Inclusive Insurance

Inclusive insurance may seem like such an alien concept, but FWD successfully demystifies the idea by unpacking strategies that help make insurance more accessible to people from all walks of life. There’s practically something for everyone, and this can be seen in their policies. The company even conceptualized a digital gameshow called Pinoy Money Master that promotes financial literacy with Filipino pop culture as the central theme, making it a great way to entice people to learn more about financial planning.

There’s also the SpringboardX Student Challenge, FWD’s annual innovation challenge that invites tertiary-level students across Asia to team up and generate fresh and inspiring ideas to help change the way people feel about insurance. It’s a wonderful initiative that opens up the world of insurance to the youth, transforming the seemingly intimidating concept into a friendlier one.

Another cool stab at inclusivity is FWD’s sponsorship of the upcoming 12th season of Mobile Legends: Bang Bang Professional League (MPL). The insurance policy will be available soon on the FWD Online Shop, which offers Life and Critical Illness coverage for gamers as well as in-game rewards.

FWD Philippines Head of Corporate Communications and Product Marketing Sonia Pascual

FWD’s Innovation Fest served as a fantastic opportunity for the company to prove to the world how they redefine insurance, champion financial inclusivity, and empower Filipinos to #Celebrateliving through their people-centered design thinking and technology.

Get started on your insurance journey by visiting FWD’s official website. For more information, log on to FWD Life Philippines' Facebook page.