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Last updated: Monday, September 25, 2017

 

FWD Marks First Anniversary with Dramatic Growth

Posted: Tuesday, September 05, 2017


On September 5, FWD Vietnam Life Insurance Company Ltd. (“FWD”), part of pan-Asian FWD Group, have celebrated their first anniversary in Vietnam following the acquisition Great Eastern Life Insurance on September 1, 2016, and the subsequent launch of the FWD brand.

FWD has grown dramatically in its first year, jumping up several ranks in market share and achieving the full year sales target by August. The number of new customers who got protected from FWD in the last 8 months for 2017 is increasing multifold from previous years.

Mr. Anantharaman Sridharan, FWD’s General Director said: "We have had an impressive year in Vietnam, as did our Group across the region. Our success is down to our vision to change the way people feel about insurance as well as thanks to a comprehensive development strategy implemented by our team. On behalf of FWD, I would like to share our gratitude to all our customers, agents, partners and staff who supported us in our journey so far, and who have placed their trust in FWD. ”

The achievements result from the company’s strategy to reach its goal of top five in Vietnam’s life insurance industry within the next five years. In the first year FWD has seen a number of growth and development initiatives come to life, including:

- Differentiated products to meet customer need: FWD pioneered minimizing the number of exclusions in all products to give customers maximum protection at no extra cost; launched FWD – Smart Kid, a product offering maximum financial protection and peace of mind for children’s education plans; and recently launched a FWD Family Care product protecting the whole family against critical illnesses in a single product.

- Diversified distribution channels: FWD has grown its sales force to over 1,000 professional agents; signed two 15-year exclusive partnerships with ABBank and Nam A Bank; distributed products through LABO’s network, a strategic partner providing comprehensive finance services.

- Digital technology that supports agency and customer engagement: By leveraging technology, FWD has reduced paperwork and prepared for non-cash transactions; improved the customer experience with electronic claims - a breakthrough in Vietnam insurance industry.

In addition to its business activities, FWD has given back to the local community to celebrate first anniversary, organizing a number of activities including a launching a VIP customer gratitude program, visiting and celebrating 300 lonely elders in Hanoi and Ho Chi Minh City, and gifting 70 scholarships and two charitable houses to disadvantaged people.

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