FWD Insurance Berhad: 40% lower costs for e-policy delivery with WhatsApp Business Platform

Challenge

FWD Insurance Berhad was concerned that too many customers were not receiving important and sensitive documents sent through the post.

In addition, the process of delivering policies via post was slow and expensive. There is also the regulatory requirement that the insurer must take reasonable steps to ensure that the life policy is delivered to the policy owner.

FWD Insurance Berhad was also looking to optimize their contact center in a way that would allow them to engage customers using modern digital channels.

Solution

Enter WhatsApp Business Platform, the solution to one of FWD Insurance Berhad’s digital transformation challenges. The popular chat app made delivering e-policies fast and convenient. In addition, it facilitated the creation of their automated chatbot, FIBY, to provide clients with information, like e-forms, branch locations, panel hospitals etc.

WhatsApp gives FWD Insurance Berhad real-time delivery status tracking for delivering e-policies using the Infobip web interface. This allows the insurer to take action on any undelivered e-policy, which improves customer experience and addresses the receipt of policy contracts by the intended recipients.

Result

Using WhatsApp helped FWD Insurance Berhad reduce costs associated with delivering policy contracts by 40% – while also making the entire process faster and more secure.

FIBY, the automated chatbot, optimized contact center performance, resulting in fewer inbound contact center engagements. With FIBY handling simple customer service enquiries, first-contact resolution improved, resulting in higher customer satisfaction.

In January 2020, FWD Insurance Berhad won the award for Digital Insurer of the Year for Malaysia by the regional insurance publication InsuranceAsia news. This was in part thanks to innovating the delivery of e-policies using WhatsApp, as well as for introducing FIBY.