FWD Insurance Berhad awarded Top Partnership Distribution Award for Malaysia's First Digitally Enabled QR Code Microinsurance Product

KUALA LUMPUR, Malaysia, June 20, 2024 /PRNewswire/ -- FWD Insurance Berhad ("FWD Insurance") proudly announces its latest accolade, clinching the Top Partnership Distribution Award at the ITC Asia Insurer Awards 2024, held in conjunction with InsurTech Connect Asia 2024. The award represents the regional benchmark for excellence, celebrating success and recognising those pushing boundaries and driving Asia's insurance sector forward. 

The Top Partnership Distribution Award is in recognition of FWD Insurance's strategic partnership with Bank Simpanan Nasional (BSN) for its first digital microinsurance product – Qaseh Bakti, leveraging technology while demonstrating innovation, collaboration and a commitment to expanding reach and enhancing customer experiences.

First in the insurance market to leverage the ever-familiar QR code technology, Qaseh Bakti is digitally enabled to provide easy accessibility with a simple enrolment process. Developed with the aim of revolutionising the insurance landscape in Malaysia, Qaseh Bakti has already impacted over 65,000 lives since its introduction in 2023. This truly underscores FWD Insurance's commitment to providing inclusive, accessible, and affordable insurance solutions to every Malaysian.

"As a customer-led and digitally enabled company, we believe in harnessing the power of digital innovation to redefine the insurance experience, "said Aman Chowla, Chief Executive Officer of FWD Insurance Berhad.

"This award is testament to our ongoing commitment of changing the way people feel about insurance by making it easy to understand, accessible, and affordable to every Malaysian. Providing accessibility through the innovative use of technology, we are committed to expanding the reach of insurance to unserved and underserved segments of communities all over the nation."

Building on the success of Qaseh Bakti, FWD Insurance and BSN have introduced its successor, Qaseh Bakti Plus in 2024, to increase financial inclusions throughout Malaysia by providing more comprehensive coverage in terms of hospital cash benefits.

This enhanced product continues to uphold FWD Insurance's promise of empowering individuals and families with comprehensive protection tailored to their needs.

Visit FWD Insurance's website for more information, email us at ask@fwd.com or contact our dedicated customer careline at 1300 22 6262.

Alternatively, you may also chat with our Chatbot Fiby on WhatsApp at 03-22982477; on our official Facebook page or on our website at www.fwd.com.my. 

About FWD Insurance Berhad

FWD Insurance Berhad (FWD Insurance) is part of FWD Group, a pan-Asian life insurance business with more than 13 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD Group was established in 2013 and is focused on changing the way people feel about insurance. FWD's customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

About Bank Simpanan Nasional (BSN)

BSN is committed to deliver comprehensive financial services within the reach of all Malaysians. BSN strives to give Malaysians equal opportunities to pursue a better and more promising financial future. To achieve this, the bank leverages its expertise and experience on financial inclusiveness, supported by a comprehensive range of products and services which are delivered through multiple touch points in every corner of the country.

Incorporated in 1974, BSN currently has 7,569 employees, supported by 387 branches, 39 Micro Financing Centres, 575 Automated Teller Machines (ATM), 147 Cash Deposit Machines (CDM), 257 Cash Recycler Machine (CRM), 10 Cawangan Bank Bergerak (CBB) – 5 in Sabah, 4 in Sarawak and 1 in Pahang as well as more than 2,300 Ejen Bank BSN (EB BSN) across the country. BSN has over 9 million customers across Malaysia with retail deposits amounting to RM20.61 billion (as of February 2024).

BSN offers a wide range of Conventional and Islamic products including Savings, Financial Asset Management, Micro and Personal Financing and Credit Cards products.

For more information about BSN, visit www.bsn.com.my.