FWD Life Encourages Indonesians to Enjoy Life without Hesitation through FWD MAX

FWD’s new customer engagement programme to make insurance more accessible


Jakarta, January 23, 2018 – PT FWD Life Indonesia (“FWD Life”) the pioneer of digital-based life insurance, introduced its latest innovation FWD MAX, a customer engagement and loyalty programme that will enable customers to enjoy life without hesitation by providing Support, Information and Protection (S-I-P). The programme is also designed to help support  and enhance insurance penetration in Indonesia.

FWD Life President Director, Choo Sin Fook explained that FWD MAX will strengthen FWD Life’s service innovation and customer experience offering..

“FWD Life understands the current needs of people who want an insurance service that can provide more than protection, but also one that can accompany them on every journey in line with their lifestyle and passion,” Sin Fook said at the FWD MAX launch in Jakarta (20/1).

According to Sin Fook, the launch of FWD MAX is also driven by positive performance growth in the context of current insurance penetration and utility levels which are still pretty low in the country. Data from the Financial Services Authority - Otoritas Jasa Keuangan (OJK) indicated that throughout the third quarter of 2017, life insurance premium revenues increased 20% (year-on-year) to Rp 139.27 trillion. However, insurance penetration remains at 2.99% of Gross Domestic Product (GDP) which is lower compared to other countries in Asia, such as Singapore, Malaysia and Thailand which booked more than 5%.

Furthermore, Otoritas Jasa Keuangan (OJK)’s research in  2016, showed that insurance utility levels in Indonesia only reached 11.81%. Meaning out of 100 Indonesian citizens, only 11-12 of them have insurance coverage.

“This condition persists as a collective challenge for the industry and we hope that FWD MAX is one of the solutions to overcome future issues in an effort to increase penetration and financial inclusion in Indonesia,” Sin Fook said.

FWD Life Vice President Director Rudi Kamdani explained that technology-based innovation can accelerate life insurance penetration in Indonesia, especially as there has been a shift in the lifestyles of the younger generation that is more technology-savvy.

Based on social media-based research conducted on the millennial generation for two months starting from December 1, 2015 to January 31, 2016 by independent agency Provetic, 41% of 7,809 conversations show the main reason they save money is to pursue their passions by purchasing concert tickets and making travel plans.

“FWD Life taps into this trend and actively supports their passions by providing the FWD MAX mobile application as a digital ecosystem that accommodates their need for protection, information,  and supports the passions of customers, agents and the general public,” Rudi said.

FWD MAX offers the following benefits:

  •  Support. Various attractive offers at 70 popular merchants spread throughout 500 outlets to support people’s lifestyle needs and passions.
  •  Information. Information that is relevant to people’s lifestyle and passions.
  •  Protection. Insurance protection to support any activity easily and quickly online.  

The FWD MAX mobile app can be downloaded via the App Store (iOS) and Play Store (Android).