(Source: Sun Star Cebu | 4 May 2016)
Security Bank Corp. (SBC), with FWD Life Philippines (FWD), was recognized with the “Highly Commended: Best Bancassurance” award at the 7th Annual Retail Banker International Asia Trailblazer Summit & Awards 2016 in Singapore.
The “Highly Commended: Best Bancassurance” award is under the products and services category, which recognizes the best retail, investment, and commercial product and service offerings of banks across the Asian region as proven by excellent service deliveries aligned to the organization’s vision, tremendous profitability of the business, and market leadership.
Security Bank and FWD signed their bancassurance partnership in September 2014 and officially launched the business in February 2015. The venture achieved its 2015 full-year target in June, just five months after its official launch.
At the end of the year, the Security Bank-FWD bancassurance finished with volumes more than three times its 2015 target, with the bank contributing 83% of FWD’s total premiums in its first year in the Philippines.
“Our venture with FWD is in line with our brand and service promise of BetterBanking,” says Security Bank President and CEO Alfonso Salcedo, Jr.
“Through the Security Bank-FWD bancassurance, we can provide a wide-range of financial solutions to a significant number of Filipinos who are still uninsured. There is definitely so much room for growth for bancassurance in the country.”
FWD’s life insurance products may be availed at over 260 Security Bank branches nationwide. Financial advisers are on hand to assist customers with their queries and concerns.