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June 22, 2024

FWD launches new campaign urging Filipinos to prioritize insurance

FWD Life Insurance (FWD Philippines), in commemoration of its 10th anniversary, has unveiled a new campaign aimed at igniting a sense of urgency among Filipinos to secure insurance coverage without delay.

The campaign’s video showcases various individuals from the next generation and their aspirations. Each character encounters their future self, who expresses gratitude to their present counterpart for taking the necessary steps to realize their dreams.

FWD Philippines has positioned itself as the insurer of choice for the next generation, revolutionizing perceptions of insurance through innovative, inclusive, and customer-centric plans tailored to the evolving needs of Filipinos.

“Our primary objective with this campaign is to address the priority gap evident among many Filipinos, wherein they acknowledge the importance of insurance but fail to prioritize obtaining coverage,” said Roche Vandenberghe, chief marketing and digital business officer of FWD Philippines.

“As more Filipinos strive to secure a prosperous future for themselves and their families, we aim to support them by ensuring their hard-earned achievements are safeguarded,” Vandenberghe said.

Vandenberghe cited a 2023 consumer study revealing that 81% of Filipinos are allocating a larger portion of their budgets to essential expenses due to inflation.

About 78% of Filipinos are reportedly setting aside funds for future needs. Despite this practical approach to financial management, many still overlook the necessity of income protection, contributing to the Philippines’ alarmingly low insurance penetration rate of less than 2% in the region.

Left unaddressed, this priority gap exposes individuals to a protection gap, leaving them vulnerable to economic setbacks resulting from critical illness, accidents, or loss of life.

Given that out-of-pocket expenses for essentials are heavily reliant on income, prioritizing financial protection is essential for Filipinos striving to build a secure future.

Vandenberghe said FWD’s approach is centered on safeguarding individuals’ desired lifestyles.

“We want to do our part in ensuring that Filipinos can celebrate living and build their best future. What you do today makes a difference tomorrow, and by choosing FWD, you can thank yourself later—we got your back,” Vandenberghe said.