FWD launches Octopus’ O! ePay-tied Cash-up Insurance Plan

FWD Hong Kong (FWD) has launched 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, and 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, the firm said in a press release.

Ken Lau, Managing Director, CEO, Greater China and Hong Kong, FWD, said: “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. 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.”

Sunny Cheung, Chief Executive Officer, OCL, said: “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.”