Thailand Country Report 2016

Presented by

Discovery Reports

FWD customers celebrate life with fresh, positive insurance solutions

Thailand-based company offers savings, personal accident, retirement and investment-linked insurance plans to consumers

PUBLISHED : Wednesday, 07 December, 2016, 11:02am
UPDATED : Wednesday, 07 December, 2016, 11:02am

Country Business Reports interviews and articles by Discovery Reports

Thinking of climbing the world’s highest peaks? Dreaming of skydiving off Pattaya? Daring to fulfil a lifelong dream? Go ahead, FWD Life Insurance has you covered. Fun, active and optimistic, FWD encourages customers to celebrate life while it delivers quick, transparent and refreshing insurance solutions.

“We take away the worry from people so that they enjoy life,” says Mike Plaxton, CEO. “Unlike other institutions, we inject positive ideas into our messages, and instead of dwelling on negative incidents, we focus on supporting people’s passions.”

Thailand-based FWD offers savings, personal accident, retirement and investment-linked insurance plans to consumers with varying lifestyles. Drawing on the inspirational and aspirational stories of its clients and employees, FWD meticulously crafts policies that impart clear, simple and candid messages as it seeks to change the market’s impression of life insurance companies.

FWD understands that nothing in life is certain, and its protection plans such as life, accident, health and critical illness policies are designed to provide security that enables a worry-free, adventure-filled life. Its savings and investment-linked plans are carefully matched to a client’s lifestyle and goals paving the way for a smooth, confident and uncomplicated financial path.

“We create a fun atmosphere,” says Aman Kapoor, chief marketing officer. “We focus on themes that touch people’s lives and that are relevant to their lifestyle. People engage with us because we deliver content that appeals to their passions.”

Harnessing the power of digital media to directly engage with its audiences, FWD has launched various online touch points such as live web chat, Facebook, Instagram and Line through the character sticker Kooki to make its products more accessible. The company’s Real Passion, Real People annual campaign, which is anchored on FWD’s customer group Passion Club, also features actual stories of clients’ fulfilled dreams and showcases Thailand’s culture of resilience.

The insurance industry has been beset with challenges particularly in Europe, but FWD has kept its growth trajectory stable by quickly responding to market changes. Enjoying a 70 per cent growth rate last year, it has massively outpaced the Thai insurance market’s rate of 8 per cent. The fast-growing insurance company is in the midst of heavy expansion plans, thanks to its avant-garde marketing strategy and the enthusiasm of its specialists.

“We are successful because our execution is extraordinary and because at the centre of our strategic approach is our people,” Plaxton says. “We believe the best companies in the world hire the best people, and we have a team which wants success and knows how to get it.”

Supported by a dynamic team that operates within a nurturing environment, the insurance business arm of Pacific Century Group boasts excellent central governance that encourages innovation. Freedom and creativity within the larger FWD Group down to its local offices are never curtailed. As a result, FWD has sealed significant partnerships with leading agents, banks, retail firms and information technology companies.

Partnerships are at the core of FWD’s business. Its longstanding alliance with Thai bank TMB allows it to deliver a fresh customer experience and provide quality services to more than 700,000 customers in Thailand. Its goal is clear: to create a powerful synergy with partner-companies that share its value of satisfying customers at all times. Whether the aim is to acquire new clients or maintain existing ones, FWD continues to welcome cooperation that serves the ever-changing needs of customers at all stages of life.

“In our industry, the business is often judged by how many sales you make,” Plaxton says. “But in truth, it should be by how many clients you keep satisfied. We exist to keep our customers happy.”


FWD Life Insurance