FWD Hong Kong (“FWD”) has expanded its first-in-market instant claims service on its one-stop FWD Moments mobile app (formerly eServices app) to cover hospitalisation claims in addition to personal accident claims. Customers holding designated FWD’s individual medical insurance plans can simply submit their hospitalisation claims through FWD Moments to enjoy instant claim review, and select to be paid for approved claims via the Faster Payment System (“FPS”) instantly, at any 7-Eleven convenience stores at MTR stations, or through direct bank transfer.
The upgraded instant claims service allows customers holding designated individual medical insurance plans to make instant hospitalisation claims of up to HK$50,000 via the FWD Moments app on a wide array of medical treatment expenses such as Surgeon’s Fee, Anaesthetist’s Fees, Operating Theatre Charges, Daily Room & Board, Daily Attending Physician’s Hospital Visit, Specialist Consultation, and Miscellaneous Hospital Charges. All eligible claims applications submitted through FWD Moments are processed instantly by a cutting edge AI assessment engine, allowing customers of approved claims to receive payments via their selected means instantaneously.
Samuel Cheung, Chief Technology and Operations Officer, FWD Hong Kong & Macau, said, “At FWD we strive to continuously enhance our customer experience through technology and innovation. By simplifying the claims process and making it more transparent, we hope to create a refreshing, positive and convenient insurance journey for our customers.”
Hospitalisation and personal accident claims account for about 95% of FWD’s life insurance business’ claims cases, in which about 60% of hospitalisation claims have been within HK$50,000.
Since the instant claims service on FWD Moments was launched last December, overall usage has jumped more than 350%, with more than 90% of these instant claims paid via FPS or in cash at 7-Eleven MTR stores. Customers are also increasingly selecting to receive claims payments via FPS as Hong Kong continues to become more digitally enabled.
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1 Personal Accident claims: The instant claims service for personal accident remains applicable to claim amounts within HK$3,000. About 60% of personal accident claims applications received by FWD have been within HK$3,000..