The Digital Insurer Award - FWD Takaful

1. The Digital Insurer
Award Submission:
Managing
Uncertainty Made
Possible with FWD
Affiliates
31 March 2021

2. 2
More than just lockdown blues: What a year! The
COVID-19 pandemic has resulted in prolonged
enforcement of lockdowns and restricted movement.
How has it affected the nation?
Acceleration of digital
economy + rise in social
commerce and social
connectedness
Regardless of the market
segment, the nation observed
mass migration online to break
isolation, stay up-to-date
through content, and obtain
necessities.
Pre-existing financial
vulnerabilities worsens
Millions of Malaysians have
lost jobs and suffered loss of
income. Financial illiteracy
and lack of urgency towards
early financial planning
persist.
Income protection
gap is more
significant than ever
The majority of Malaysians
do not have sufficient
financial protection
coverage. And the
uninsured are often those
who are less equipped
financially to weather bad
times.

3. 3
More than just lockdown blues: What a year! The
COVID-19 pandemic has resulted in prolonged
enforcement of lockdowns and restricted movement.
How has it affected the insurance / Takaful industry?
Continuously shrinking
customer ecosystem
forces relook at
channel strategy
Prolonged periods of
restricted movement and
social distancing measures
limit opportunities to reach
and connect with consumers.
New challenges that
come with changing
consumer behaviours
impede quick business
recovery
Traditional (agency)
workforce and their
complicated purchase
journeys struggle to meet
new consumer expectations
digitally and redefine
customer experience.
With the uninsured, a
continuous battle with
consumers’ lack of
need for protection
persist. With the
insured, a struggle to
maintain relevance and
continuity post-
purchase.
With both, insurance /
Takaful industries struggle to
attenuate financial anxiety.

4. 4
In a time where the nation requires it the most, FWD
Takaful ramps up on digitization efforts to address
demands.
Managing uncertainty made possible with FWD Affiliates
Our core purpose: To make protection accessible and improve
financial security
Open up an alternative
avenue to offset social
distancing measures, re-
cultivate our agent
network’s shrinking
customer base, and help
agents and affiliates build
relationships with
consumers digitally
Promote financial
literacy and protection
awareness, and to
provide accessibility to
Takaful protection
Provide equal
opportunity for everyone
to earn additional
income easily without
having to sacrifice time
required on other life
priorities

5. 5
Affiliates help agents to build
relationships with customers digitally
and at the point of intent, turns a
customer’s digital engagement to a
personal interaction with an agent
instantly.
Who are Affiliates?

6. 6
Overview of FWD Affiliates
Designed to spread
Takaful awareness
using social media and
generate additional
income while at it
Operates through a
user-friendly mobile
app for anyone to
register as an Affiliate
and for Agents to
recruit/track/be in the
loop of their Affiliates
business
Content on relatable
topics (i.e. financial
literacy, wellness,
health, product
benefits etc.) shall be
uploaded for Affiliates
& Agents to share to
No selling, no capital
required by the
Affiliates, only sharing
of content
When prospects are
identified, they can be
directed to subscribe to
FWD online plans or to
leave their contact details
– wherein our network of
qualified Agents shall

7. 7
How The Program Works
Instant sign-up
as Affiliate under
the Agent
Agent/Affiliate
share
article/post with
Agent iFrame
Customer views
post and leaves
contact details
Agent contacts
and meets
Customer and
closes sale
Agent sign-up by
logging apps
using Agent
Code
Affiliate provide own
invitation link to sign up
more affiliates
Agent gets
Commission,
Affiliate gets
Referral Fee
User request to
sign-up as
Affiliate
Email to Affiliate
Support or
Customer
Service
User will be
given agent code
2. By
request
1. By
invitation

8. 8
Ensuring a sustainable model: Track. Learn. Improve
Empowering affiliates to track activity
and monitor performance of their
efforts
App comes equipped with a personalised
dashboard providing performance quick view ie.
- Total number of shares to date
- Clicks and average postings
- Progress of earnings
Gamification and reward elements to
capture and retain attention, with
learning opportunities
Incentives offered to our affiliates are constantly
reviewed and refreshed to sustain the interest and
keep them challenged.
Aside from the basic features to share FWD-
developed content, affiliates also have the option
to generate and share their own content should
they have personalised content they wanted to
share. This not only gives them autonomy of the
content, but opportunity to learn as they go.
Close eye on data to ensure that we
continuously learn and improve the
quality of the platform
Reports are generated regularly to provide insights
to internal content development teams. They
provide a wealth of data to identify performing
content (what is shared), number of shares and
clicks (how much is shared), performing channels
(where they’re shared), time (when content is
shared) etc.
Affiliates (User) FWD (Brand)
Constant rotation of partnerships to
amplify reach, grow network, and
leverage on industry learnings
Our partnerships with universities such as UUM not
only helps us expand our reach. Our Affiliates
program equips students early with financial and
protection knowledge, provide the opportunity for
them to undergo training to become FWD Affiliates
and generate side income, and open up job
opportunities with FWD as they work towards their
graduations.

9. 9
And here’s how we’re doing so far.
9,779
Between the period January – March 2021:
total posts
shared 29,78
9
total post
views
2,627
leads
generated 1,71
3
sales
closed
6,000
FWD Affiliates since launch in February 2020.
Leads-to-Sales conversion rate stands at 65%, totaling RM4.1M in total Annual
Contribution Estimate (ACE).
In the month of February, our top Affiliate drew RM5K as a result of his efforts.

10. 10
What have our users saying?
Watch video
Wow,
hebatnye!
“I used to share
content without
looking, but now
even I’m
learning from
the content”
“My network
has
expanded
because of
FWD
Affiliates!”
“Best jadi
affiliate. Guna
social media
pun boleh buat
duit! xpayah
keluar rumah.”

11. Thank you.