FWD introduces its Cash-up Insurance Plan through Octopus O! ePay

By Apac CIO Outlook | Tuesday, August 04, 2020

Cash-up is a digital insurance option that combines saving and protection by also providing life protection.

FREMONT, CA: FWD Hong Kong ("FWD") introduced its Cash-up Insurance Plan ("Cash-up"), a fintech initiative that makes it easy for Hong Kong's mobile wallet users to establish a savings habit while gaining life insurance protection at the same time. FWD's Cash-up is a collaboration with Octopus O! ePay, Hong Kong's iconic network-based stored value facility operated by Octopus Cards Limited. It is available via a fully digital, intuitive interface where customers can conveniently apply for insurance plans, pay premiums, manage savings, gain returns and make withdrawals.

"Cash-up is an easy-to-use insurance product, developed to meet the changing needs of today's digital lifestyle and brings our vision to life as we strive to change the way people feel about insurance every single day," said Ken Lau, FWD Managing Director of Greater China and Hong Kong Chief Executive Officer. "In addition to added convenience, we also want to encourage people, especially the younger generation, to form strong saving habits. This partnership with O! ePay allows us to bring this message and our leading customer experience to even more people in Hong Kong."

FWD keeps everything simple for Cash-up from the very first step with Octopus' O! ePay. O! ePay Plus and O! ePay Pro account holders aged 19 to 70 years (age next birthday) who are Hong Kong permanent identity cardholders and with the support of a second identity document (Home Return Permit or passport) are eligible to apply for Cash-up.

"We are delighted to welcome FWD as one of our O! ePay online payment service merchants. The account value of Cash-up by FWD can also be used to top up O! ePay, essentially withdrawing the money back into O! ePay for everyday use. We believe this innovative cooperation will help make daily expense management even easier for our customers." said Mr. Sunny Cheung, Chief Executive Officer of OCL.