FWD Insurance Indonesia’s multi-channel approach to enhance customer experience

Tech executive focused on digital leadership and customer-centric strategies to drive company’s success.

CHANGE management in the insurance sector is needed because the constant evolution of customer expectations requires continuous adaptation. FWD Insurance Indonesia is at the forefront of understanding the importance of being customer-led and digital-led.

“The core of the insurance business is the necessity of building trust and managing risks,” Cherdchai Virabhak, chief technology and operations officer at FWD Insurance Indonesia, told the Fireside Chat session at the recent Insurance Asia Forum in Jakarta.

Speaking to Tim Charlton, publisher of Insurance Asia and who moderated the discussion, Cherdchai said the role he plays at FWD encompasses transformation, digital commerce, and data. “Our goal is to optimise technology and processes to improve customer experience and operational efficiency,” he said.

This goal is painted amidst the backdrop of returning to pre-COVID-19 operations whilst meeting business expectations such as sales, revenue, and operational KPIs. “At FWD Insurance Indonesia, we utilise various channels, including unassisted interactions via our websites and mobile apps, and assisted interactions through agency and partner channels,” the FWD executive said.

Cherdchai explained that managing technology, digital innovation, operations, and data allows for better prioritisation and resource allocation in order to ensure that business priorities are clear and effectively addressed.

Flagship digital initiatives

Cherdchai detailed some flagship initiatives, particularly those accelerated due to the pandemic. Notable amongst these was the launch of the Smart 2.0 point-of-sale tool, designed to streamline processes for FWD’s 12,000 agents in Indonesia.

“This tool incorporates auto-underwriting features, which have significantly increased the number of electronic submissions to 60% of total submissions,” he said.

On the digital commerce side, FWD Insurance Indonesia is studying ways to engage with communities. They work with key opinion leaders to drive lead generation and raise awareness for company products.

“We also focus on Online-to-Offline (O2O) strategies. We generate leads online through our website or digital apps, which are then followed up by agents. Conversely, our Offline-to-Online strategy involves agency or advisor channels directing customers to our website, where they can purchase products,” he explained.

All of these initiatives aim to understand customer needs at different life stages.

However, these efforts are not without challenges. Cherdchai mentioned that obtaining accurate data and translating it into insights is difficult. Once insights are gained, they are used to design products and ultimately embed them into channels.

“Ultimately, when we distribute through a specific channel, we must also consider how the customer can engage with us after the sale, whether for making claims or accessing services,” Cherdchai said.

Future direction

Looking ahead, FWD Insurance Indonesia is exploring a new chance to find a new partner including cross-agent possibilities but it needs to find synergies first in terms of proposition and how to wrap it from the technology standpoint.

“We’ve been trying to set it up. We've looked at a number of models, a number of partners, but the door is always open for us in the company to consider whether there are opportunities there to send a chance,” Cherdchai said. “We are also considering partnerships with ecosystem players and telecom companies as key partners in Indonesia, along with the importance of engaging communities.”

He noted that a critical challenge remains in maintaining multi-distribution confidence, ensuring that different channels can coexist without creating friction. “There is a need for clear targets, resource alignment, and effective communication to manage a multi-channel strategy successfully,” he said.

In the future, FWD Insurance will navigate the digital transformation landscape by leveraging technology, optimising processes, and focusing on customer-centric strategies.