FWD Life Insurance introduces an artificial intelligence (AI)-powered tool that suggests insurance coverage plans based on similar customer profiles. This new platform, FWD FitForMe, is free to use to help bridge the protection gap and increase financial inclusion.
The Philippines has one of the lowest insurance penetration rates in the region, at under 2% according to the Insurance Commission. This protection gap in essential coverage leaves many Filipinos exposed to additional economic risks, a challenge FWD is addressing proactively.
FWD started in the Philippines with digital in its DNA but using human insights to deliver the best customer experience and services. The latest innovation FWD FitForMe leverages AI partnered with people-centric approach. FWD FitForMe is free to use for everyone, developed to help close the protection gap by giving Filipinos access to information on how much and what kind of financial protection people of similar background have.
By completing a short questionnaire, FWD FitForMe analyzes answers against FWD’s first-party data to identify the appropriate financial profile. It then provides personalized insurance recommendations that better suit the customer’s needs, lifestyle, and what they want to achieve. Insurance plans can range from full plans to digital products that may be relevant to customers. To get a more holistic financial advice, customers may also set a consultation with a financial advisor.
Roche Vandenberghe, Chief Marketing and Digital Business Officer of FWD Philippines, emphasized how innovative solutions like FWD FitForMe contribute to nation-building and address common issues faced by Filipinos with insurance. “We want to help those seeking better protection to make financial decisions easily and more accurately while keeping their data safe and secure. As the insurer of the next generation, we remain committed in changing the way people feel about insurance by providing tools and solutions that are intuitive and relevant in addressing Filipinos’ evolving needs,” said Vandenberghe.
Discover insurance plans designed for people like you and try FWD FitForMe today at fwd.com.ph.
FWD Philippines is regulated by the Philippines Insurance Commission and is legally permitted to provide insurance products and services within the country.
About FWD Philippines
FWD Life Insurance Corporation (FWD Philippines) launched its commercial operations in September 2014. Currently, FWD Philippines is number one in customer experience among insurers in the country1. In just 10 years, FWD Philippines now ranks 3rd and 4th in terms of new business annual premium equivalent2 and premium income3, respectively.
FWD Philippines is part of FWD Group, a pan-Asian life insurance business with more than 13 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD Group was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.
FWD Philippines is regulated by the Insurance Commission of the Philippines and is legally permitted to provide insurance products and services within the country.
