FWD Life Insurance, a Thai unit of the Hong Kong-based insurance group, is launching a new customised insurance model that offers Thais joint coverage with their family members that can also include treatment for mental health conditions.
The new FWD modular series allows customers to tailor their insurance plan to suit their needs.
The model also includes the FWD Care recovery plan, in which policyholders can claim services outside the scope of their stated policies. The additional health package offers rehabilitation support and care.
Chief executive David Korunic said a one-size-fits-all insurance product is no longer effective at responding to the needs of customers, who are more likely to look for versatile and flexible policies.
According to the firm's customers, the ideal insurance plan should provide physical and mental coverage, not only for the consumer but also their loved ones, said Mr Korunic.
FWD's Health Family Sharing plan allows customers to share protection and medical expense coverage with other family members or loved ones, which includes a spouse or LGBTQ+ partner.
This extended protection covers a combination of outpatient department (OPD) and inpatient department (IPD) medical expenses, as well as the ability to share health coverage benefits with up to five people per family, he said.
Alisa Areepong, FWD's chief pro- position officer, said the customised model is based on the idea of presenting policyholders with a different and unique health insurance plan that best fits their needs.
"Our strategy of constantly developing new products and services to meet the needs of all customer segments forms part of our vision of changing the way people feel about insurance," she said.
The company also offers the Mind Strength plan, which was launched late last year. The health insurance policy supports customers' mental health.
Under the Mind Strength and Health Family Sharing plans, policyholders can arrange their health coverage benefits from the primary FWD Precious Care policy, which covers a lump sum medical expense payment for IPD and OPD treatments.
"Particularly in this challenging economic environment, these additional plans and special services aim to help our customers to live the lives they want and celebrate living," said Ms Alisa.
Mr Korunic echoed that sentiment.
"We are dedicated to supporting everyone in living a happy, worry-free life. We believe the FWD Modular Series is the answer that everyone is looking for," he said.
"Happiness in life comes from a healthy body and mind, as well as the peace of mind that comes from the knowledge that our loved ones are well-protected and will be well taken care of, both mentally and physically."
