FWD Life Insurance (FWD Philippines) has urged Filipinos to include insurance protection among their priorities and part of plans in building a better future.
Roche Vandenberghe, FWD Philippines Chief Marketing and Digital Business Officer, stressed this as the company launched a new video campaign that kindles the need for Filipinos to insure themselves today.
“Our main objective for this campaign is to address the priority gap most Filipinos are exhibiting, meaning they know about insurance, but they do not prioritize getting one,” said Vandenberghe.
“With more Filipinos are doing all they can to secure the best future for themselves and their loved ones, we want to support them by making sure their hard work will always be protected,” she added.
The campaign video portrays different Filipinos of the next generation and their aspirations. Each character meets the best future version of themselves, who thanks the present self for taking the steps towards achieving their dreams.
At 10 years young, FWD Philippines has been changing the way people feel about insurance through innovative, inclusive, and people-centric plans fit for Filipinos’ evolving needs.
Vandenberghe cited a 2023 consumer study which showed that 81 percent of Filipinos are allocating more of their budget for essentials due to inflation. Based on the same study, 78 percent of Filipinos are also reportedly saving money for the future.
While these numbers suggest Filipinos have become more practical with their finances, many still show a priority gap in other essentials such as income protection. This contributes to the Philippines having one of the lowest insurance penetration rates in the region at less than two percent.
Unaddressed, the priority gap leads to protection gap, where they are more susceptible to economic losses due to their vulnerability to critical illness, accidents, and loss of life.
As out-of-pocket expenses for essentials continuously rely on their income, more Filipinos can benefit by prioritizing financial protection as a necessity in building their best future.
Vandenberghe emphasized that FWD’s approach is anchored on protecting people’s desired way of life.
“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," she said.