Modular Series from FWD Life Insurance (FWD Insurance), which is the first-of-its-kind product concept in Thailand’s life insurance industry, allows customers to design coverage according to their lifestyle needs.
FWD Thailand is part of FWD Group, a pan-Asian life insurance business with over 11 million customers across 10 markets, including in some of the fastest-growing insurance markets in the world.
As the business completes its tenth year in 2023, FWD is focused on making the insurance journey simpler, faster, and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.
FWD was honoured with the International Finance Awards 2023 for ‘Best Marketing Campaign’. The venture’s innovative approach represents a significant change from a ready-made, pre-packaged coverage “of which the benefits may not be fully utilised, to a personalised plan where customers can customise their existing primary health policy without having to purchase a new one.”
On winning the International Finance Award, Ms. Alisa Areepong, Chief Proposition Officer of FWD Insurance, reacted, “Winning the International Finance Awards 2023 for Best Marketing Campaign is a real testament to our constant hard work and dedication to the customers. The Modular Series is the first-of-its-kind health insurance policy in Thailand that allows customers to extend, add to, customise, and arrange additional benefits and protections to their primary health insurance policy as they see fit, in response to the changing needs in different stages of life. It is the different and unique health insurance plan that comes with the flexibility to overcome any limitation and empowers you to design your life like someone who understands life.”
FWD Modular Series’ Key Plans
Let’s talk about FWD’s ‘Health Family Sharing,’ which is an innovative product that allows customers to share medical expense coverage for both OPD (Outpatient Department) and IPD (In-Patient Department) with family and loved ones such as spouses, relatives, or LGBTQ+ life partners, totalling up to five people.
Then arrives ‘Mind Strength’, which is a comprehensive mental health care plan, covering psychiatric medical treatment expenses for both OPD and IPD cases, with mental support services featuring a preventive mental health assessment and counselling without any additional charge.
Knowing The Campaign
The Modular Series campaign, termed a ‘first-of-its-kind,’ exhibited a set of strategic sequences that drove creativity in building awareness of the products and familiarise consumers with the new concept, such as tapping into a Tangram to embody a variety of coverage like forming different shapes with puzzle pieces.
“As FWD is taking active steps to broaden the definition of family beyond consanguinity relationships, we also utilised content marketing incorporating the thought leaders and influencers to boost personalised experiences for LGBTQIA+ audience and unlock the value of inclusive benefits and solutions,” the venture informed the International Finance.
To celebrate the launch of the Modular Series Insurance Policy, FWD hosted a grand opening event at a prime shopping centre in Bangkok, in order to raise public attention and attract both online and offline exposure by inviting media, prospective customers, and key celebrities.
Attendees had the opportunity to purchase Modular products at promotional pricing and receive giveaways during the event. To reach the target demographic, it also featured a range of activities.
“One of the highlights was the Tangram playground, which specifically appealed to the younger members of the family segment. The Tangram playground served as a means to engage all families, including children, by strengthening their connection to the product’s concept, allowing them to pick out the physical attributes of the campaign and building brand awareness as part of their growing up while forming relationships with FWD,” the venture commented further.
“Another highlight was the Mind Strength zone which focused on educating the audience on how to deal with the mental health challenges and raised awareness of the mental health care,” it concluded.