FWD Life Encourages Young Generation to Change the Way People Feel about Insurance with Digital Innovation through FWD HACKATHON 2017
Jakarta, August 4, 2017 – PT FWD Life Indonesia (“FWD Life”) – digital-based life insurance pioneer in Indonesia which vision is to change the way people feel about insurance by utilizing digital technology, encourages the young generation to bring their best innovations in creating the digital ecosystem as well as to build digital life insurance era by conducting FWD Hackathon 2017. By changing the way people feel about insurance, FWD Life hopes can support Financial Services Authority (OJK)’s program for improving financial literacy and inclusion in Indonesia.
FWD Life Vice President Rudi Kamdani explained that as a pioneer of digital-based life insurance, FWD Life has a responsibility to take part in improving insurance penetration in Indonesia, especially by utilizing digital innovation. This is one of our focus, especially OJK data shows as of the first trimester of 2017 insurance penetration in Indonesia is only 2.70 percent which means it is still lower than some other countries in Asia, like Singapore, Malaysia and Thailand – currently at 5 percent.
“We believe digital technology innovation will be able to accelerate life insurance penetration in Indonesia, especially there is a shift in the lifestyle of digital savvy young generation. This marks an opportunity for FWD Life to embrace talented young generation to utilize digital technology to build digital life insurance era in Indonesia,” Rudi explained in Jakarta (4/8).
Observing this phenomenon, FWD Life collaborates with Founders Institute to conduct FWD HACKATHON 2017 for the first time in insurance industry, encouraging young generation to think and explore their creativity in creating an application that focused on providing ease in dealing with insurance.
“This strategic partnership is expected to create a new embryo in the insurance world, that can strengthen the life insurance industry in the future, making it more competitive and allowing it to contribute more to the nation. FWD Life has developed numerous digital insurance solutions for our customers. We hope various digital technology innovations will be born to support insurance business transformation, starting from the underwriting aspect, risk management as well as claims, allowing us to create an easier, faster and more convenient insurance experience,” Rudi said.
Prior to FWD Hackathon day on September 22-24, 2017, FWD Life and Founders Institute will do a roadshow to promote and provide understanding on the insurance industry to several regions like Jakarta, Surabaya and Bandung.
Director of Founder Institute Andy Zain said, “It is an amazing opportunity to be able to work together with FWD Life to encourage the Indonesian young generation to demonstrate their skills in creating digital masterpieces. We hope FWD Hackathon 2017 can provide benefits, to build a solid insurance industry with ideas and innovations from Indonesian young generation,”
FWD Life is confident that every day is a new adventure. And through innovations, FWD Life encourages Indonesians to achieve the best in everything they do by providing the right protection for a lifetime of possibilities. FWD HACKATHON 2017 provides an opportunity to the young generation to turn their passion into sustainable income, as well as to take part in establishing a new digital life insurance era in Indonesia.