FWD INSURANCE
Market newcomer FWD Insurance has already disrupted the Philippine insurance sector with its innovative IT developments as the company looks to change the industry ’ s image
The Philippine life insurance industry is poised to post one of the fastest growth rates in the next nine years among emerging markets , and is expected to register a compound annual growth rate ( CAGR ) of 9.1 % from 2017 to 2025 .
FWD Life Insurance is certainly looking to leverage on this predicted growth , as Rogelio ‘ Nooky ’ Umali , CTO , explains : “ There ’ s a distrust of insurance companies – only about 3 % of Philippines have life insurance . This is a market prime for FWD because we are changing that perception .”
Indeed , a 97 % market penetration opportunity is one that will appeal to any company . FWD Insurance ’ s advantage is how it utilises disruptive IT to offer unique products to its clients , as well as offering them first-class customer service .
CREATING RIPPLES Headquartered in Hong Kong and with a pan-Asian presence , FWD Insurance is a comparatively new player in the Philippines , having
198 September 2017