Bank of Communications (Hong Kong) and FWD Hong Kong Celebrate 20 Years of Bancassurance Partnership
Bank of Communications (Hong Kong) (“BOCOM (HK)”) and FWD Hong Kong (“FWD”) celebrate the 20th anniversary of their long-term partnership, marking a new milestone for this successful long-standing bancassurance collaborations. The partnership will be extended with a focus on enhancing fintech collaboration and capturing wider opportunities, to actively provide diversified financial planning and protection services to a wider Hong Kong and cross-border customer base and continue changing the way people feel about insurance.
Meng Yu, Chief Executive Officer of Bank of Communications (Hong Kong), said: “BOCOM (HK) and FWD have established a successful bancassurance business for years. Products such as our co-brand credit cards integrated with insurance concepts, have been well-received by the market. Technology has been reshaping customers’ expectations for bancassurance services. FWD’s unique advantages in insurtech expedite the processes and shorten the time involved in premium payments, offering a more convenient and efficient digital insurance service to our customers. Together, we look forward to expanding our bancassurance market share, meeting the market demands more extensively, and delivering greater values for our customers.”
Ken Lau, FWD’s Managing Director for Greater China and Hong Kong CEO, said: “We share the same vision as BOCOM (HK) and are committed to providing innovative and comprehensive financial planning and protection solutions. We’re truly thankful for their enduring trust in us, enabling us to introduce a wide range of quality protection and an innovative digital experience to their extensive customer network. BOCOM (HK) has a leading position in cross-border financial services and we believe this will allow us to capture the vast opportunities by providing comprehensive wealth management and protection services to more customers.”
The partnership between BOCOM (HK) and FWD commenced in 2002. Together, the two companies have launched an innovative and simple online insurance service, co-brand credit cards with insurance concepts, such as the “Bank of Communications FWD CUP Dual Currency Credit Card” and the “Bank of Communications FWD Credit Card”. The “Bank of Communications FWD CUP Dual Currency Credit Card” allows customers to earn bonus points and rebate upon premium payments, and to enjoy premium discounts and instalment plans for FWD’s insurance products. These multiple benefits make protection easier and cost-effective for customers.
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