15 July 2022 | Hong Kong
Most awarded insurer for the fifth consecutive year
FWD Insurance (“FWD”) broke its record again by winning 14 awards and becoming the most awarded insurer for the fifth consecutive year at the Bloomberg Businessweek Financial Institutions Awards 2022.
The 14 awards, including six Excellence Awards and eight Outstanding Awards (see Table 1), cover various areas including life and health protection, wealth growth, quality customer service and digital experience, demonstrating FWD's achievements in its customer-led strategies and the effective integration of innovative technology into its insurance products and services.
Ken Lau, FWD Managing Director of Greater China and Hong Kong Chief Executive Officer, said, “This is a huge recognition for our team’s hard work, commitment and dedication to consistently pursue the highest standards year after year. Receiving these many awards from Bloomberg, a respected media platform, inspires us to continue to innovate and improve our customers’ experiences. We’ll continue to design new products, value-added services and engagement means to create a simpler, faster and smoother insurance experience for everyone, following our brand vision of changing the way people feel about insurance.”
FWD has set new records again for its innovative health and wealth products and services, covering its industry-leading Voluntary Health Insurance Scheme (VHIS), “vPrime Medical Plan” (Certification number: F00045) which offers comprehensive health protection at affordable premiums and rehabilitation support for its customers; The “PREMIER THE ONEcierge”1 and “MINDcierge”1 provide one-stop professional health and consultation services across Asia; “MyCover” for critical illnesses, “MyTerm” for term life insurance and “MaxFocus Vision Insurance Plan” for wealth planning.
FWD's performance has been recognised by customers and praised by the industry. FWD was top 32 in Hong Kong for the first-year premium of new business; top 42 in Hong Kong in the number of new business policies; top 13 in best value of money of insurance products and services; the Hong Kong Federation of Insurers Voluntary Health Insurance Award Winner4; and 97% of customers felt satisfied with FWD's buying experience5. This showcases FWD’s accomplishments in both business development and the commitment to building a distinctive brand.
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The vPrime Medical Plan (Certification Number: F00045) is underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) (VHIS provider registration number 00036). The above information does not contain the full terms. For detailed terms and conditions, benefits of the policy, major exclusions and key product risks of vPrime Medical Plan, please refer to its product brochure and policy provisions downloadable at https://www.fwd.com.hk/en/protect/health-accident/vhis/vprime/.
1. “PREMIER THE ONEcierge” and “MINDcierge” are provided by external third-party providers. They do not form parts of the policy or benefit items under the policy provisions and are only applicable to the designated insurance plan. FWD reserves the right to suspend, terminate or vary the Services in its sole discretion without further notice.
2. Source: Insurance Authority provisional statistics on long-term insurance business in Hong Kong from January to December 2021, combining individual and group insurance business.
3. According to KPMG’s latest 2021 KPMG Hong Kong Customer Experience Excellence survey, FWD was ranked No. 1 in Hong Kong in terms of value for money insurance products and services.
4. FWD Voluntary Health Insurance product “vPrime Medical Plan” (“vPrime”) won the “Outstanding Creative Product/Service Award” at the “Hong Kong Insurance Awards 2021” — Voluntary Health Insurance Scheme” won the annual award, the highest honour of the year. FWD Voluntary Health Insurance Series receives two top honours at Bloomberg Businessweek Financial Institution Awards 2021 - Excellence in Voluntary Health Insurance Plans and Medicare Plans and Excellence in Healthcare and Protection.
5. According to the FWD Customer Opinion Survey conducted by FWD Hong Kong from January to March 2022, respondents gave a "Very Good/Good" rating in the overall customer buying experience.
About FWD Hong Kong & Macau
FWD Hong Kong & Macau are part of the FWD Group, a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world.
FWD Hong Kong has been assigned strong financial ratings by international agencies. It offers life and medical insurance, employee benefits, and financial planning. FWD Macau provides a suite of life and medical insurance.
FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.