FWD Life allows employees to flex their benefits through STORM platform

September 27, 2017 | News

FWD Life allows employees to flex their benefits through STORM platform

MANILA, Philippines — FWD Life Insurance Corporation (FWD Life) recently signed up with STORM Technologies to implement an innovative flexible benefits platform for its employees.

The customized platform will allow FWD Life’s employees to convert their unused benefits into points, which they can use to purchase items of their choice in an exclusive online marketplace. Through this program, employees can better maximize and enjoy their benefits, and potentially increase engagement and satisfaction across the organization.

“Employee needs are changing; so should the way we provide benefits. While there are essential and basic items, like life and health insurance that we intend to continue to provide, we believe that there is room for employees to define and acquire benefits according to their preferences and passion,” said FWD Life Chief Human Resources Officer Rozanne Parungo.

FWD Life Insurance Corporation is the first life insurance company licensed by the Insurance Commission of the Philippines under the new Insurance Code. FWD launched its commercial operations in September 2014. After its second full year of operations in 2016, FWD ranked #12 in total premium income, up one notch from previous year, according to the Insurance Commission’s report. By March 2017, FWD Life is the highest-capitalized life insurer in the Philippines with PhP 2.3 billion in paid-up capitalization.

The company is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.

“We are a game changer organization.  Our vision is ‘To Change The Way People Feel About Insurance.’  By ‘People’ we mean our customers, our stakeholders, our partners, our sales representatives, our employees.  They are at the heart of most everything we do,” Parungo added. “Through the partnership with STORM, FWD is now able to offer our employees a whole new line up of flexible benefits while empowering them to pick and flex so that it’s – ‘Your Benefits, Your Way.”

“We are very happy with the addition of FWD to the network of companies using our platform. Similar to their customer-focused approach of providing relevant products and solutions, our technology-powered flexible benefits platform will allow them to meet the varied needs of their diverse workforce, regardless of what life stage their employees are in,” said STORM Technologies founder and CEO Peter Cauton.


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