FWD Insurance partners with Bank Simpanan Nasional to drive financial inclusion and literacy among Malaysians

KUALA LUMPUR, Malaysia, May 14, 2024 /PRNewswire/ -- FWD Insurance Berhad ("FWD Insurance") partners with Bank Simpanan Nasional ("BSN") to introduce Qaseh Bakti Plus, a microinsurance product that provides affordable and accessible solutions to underserved communities.

Catering to the needs of over three million B40 households in Malaysia^[1], Qaseh Bakti Plus stands as an affordable insurance solution. Crafted through meticulous analysis of customer data and direct feedback, this plan offers income replacement in the event of unforeseen hospitalisation. Qaseh Bakti Plus is an offering under Bank Negara Malaysia's Perlindungan Tenang programme.

Speaking at the official launch ceremony today, Aman Chowla, Chief Executive Officer of FWD Insurance said, "Our vision of changing the way people feel about insurance is not limited to financial inclusion, but also to drive financial literacy in the nation. We recognise that financial literacy and inclusion are not just economic imperatives; they are pillars of empowerment and equality. By equipping individuals with the knowledge and tools to navigate the financial landscape, we're not only fostering resilience and prosperity but also breaking down barriers and building a more inclusive society. At FWD Insurance, we are committed to driving positive change in the nation."

"As a partner in this endeavour, BSN is excited to leverage our extensive nationwide network to provide a solution specifically designed to address the protection needs of the rakyat while also advancing financial literacy among future generations. Our collaboration with FWD Insurance is poised to strengthen our commitment to fostering long-term and meaningful relationships with each of our customers, while ensuring that our vision of "No Malaysian Left Behind" remains steadfast," said Jay Khairil, Chief Executive of BSN.

Aman also remarked that with a customer-centric approach, the goal was to ensure insurance affordability and accessibility, which is achieved through Qaseh Bakti Plus.

Qaseh Bakti Plus provides a choice of three plans for those aged between 18 to 55 years old. With premiums from as low as RM0.17 per day, it breaks new ground by providing more comprehensive coverage in terms of hospital cash benefits. It provides daily hospital cash and death benefits. Additionally, if these causes are accidental, customers will receive double the benefits.

This microinsurance product is easily accessible and can be obtained at BSN branches nationwide. Qaseh Bakti Plus also has a simple sign-up process and customers will receive their policy in their email almost immediately.

Customers who enrol for Qaseh Bakti Plus before 31 December 2024, will stand a chance to win a brand new Perodua Ativa at the year-end grand prize lucky draw. Additionally, iPhone 15 and other attractive prizes can be won during the quarterly lucky draws.

As part of continuous efforts to boost financial literacy and inclusivity, FWD and BSN signed a memorandum of understanding to implement financial literacy programmes for selected urban and rural schools nationwide. This initiative underscores both companies' unwavering dedication to a common mission and further bolsters ongoing endeavours to enhance financial literacy among Malaysians.  

Visit FWD Insurance's website for more information on Qaseh Bakti Plus or email [email protected]  or contact the dedicated customer careline at 1300 22 6262.

Alternatively, you may also chat with Chatbot Fiby on WhatsApp at 03-22982477; on FWD's official Facebook page or website at www.fwd.com.my. 

About FWD Insurance Berhad

FWD Insurance Berhad (FWD Insurance) is part of FWD Group, a pan-Asian life insurance business with more than 13 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD Group was established in 2013 and is focused on changing the way people feel about insurance. FWD's customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

About Bank Simpanan Nasional (BSN)

BSN is committed to deliver comprehensive financial services within the reach of all Malaysians. BSN strives to give Malaysians equal opportunities to pursue a better and more promising financial future. To achieve this, the bank leverages its expertise and experience on financial inclusiveness, supported by a comprehensive range of products and services which are delivered through multiple touch points in every corner of the country.

Incorporated in 1974, BSN currently has 7,569 employees, supported by 387 branches, 39 Micro Financing Centres, 575 Automated Teller Machines (ATM), 147 Cash Deposit Machines (CDM), 257 Cash Recycler Machine (CRM), 10 Cawangan Bank Bergerak (CBB) – 5 in Sabah, 4 in Sarawak and 1 in Pahang as well as more than 2,300 Ejen Bank BSN (EB BSN) across the country. BSN has over 9 million customers across Malaysia with retail deposits amounting to RM20.61 billion (as of February 2024).

BSN offers a wide range of Conventional and Islamic products including Savings, Financial Asset Management, Micro and Personal Financing and Credit Cards products.

For more information about BSN, visit www.bsn.com.my.

SOURCE FWD Insurance Berhad