Moneymax and FWD Life Insurance Empower Filipinos to Make Better Financial Decisions

Manila, Philippines – April 2024. Moneymax, the Philippines’ largest personal finance marketplace for financial products and a subsidiary of MoneyHero Limited (NASDAQ: MNY), today announced its strategic partnership with FWD Life Insurance (FWD Philippines) to give Filipinos access to life insurance and help them make better decisions for their financial future. 

Through this partnership, Moneymax adds FWD Philippines' diverse portfolio of protection and life insurance products—including FWD’s The One, Set for Health, and Set for Life, which aim to protect Filipinos against critical illness and accidental death and provide lifetime protection—to its online financial comparison and digital insurance platform.

By leveraging Moneymax's leading personal finance and digital insurance ecosystem and FWD's expertise in life insurance, Filipinos now have the essential tools to make well-informed financial decisions. They can secure their financial well-being with more accessible life insurance products, empowering them to celebrate living. 

From left to right: Roche Vandenberghe, FWD Philippines’ Chief Marketing and Digital Business Officer; Irene Andas, FWD Philippines’ Chief Partnership Officer; Tom Kapeller, Group Head of Insurance at MoneyHero Group; Jessica Faye Tan, Head of Commercial at Moneymax 

"We are thrilled to partner with FWD, which underscores our commitment to enabling Filipinos in making better financial decisions for insurance products," said Tom Kapeller, Group Head of Insurance at MoneyHero Group. "We believe that access to a wide range of life insurance options, as well as independent and unbiased information, are crucial in helping our users secure their financial future. By joining forces with FWD, we are confident that we can provide our customers with fair and innovative insurance products, and help them understand life insurance for a simplified purchase experience."

“Our goal is to support nation-building by helping bridge the protection gap. By offering our products through Moneymax’s digital platform, we’re ensuring that more individuals have access to the protection they need to build their best future,” said FWD Philippines’ Chief Partnership Officer, Irene Andas. 

“FWD Philippines is celebrating 10 years of innovation, committed to delivering best-in-class customer experience. Partnering with Moneymax, we are not just streamlining insurance purchases but making it easier to buy—ensuring a seamless journey for Filipinos to take control of their financial future,” added FWD Philippines’ Chief Marketing and Digital Business Officer, Roche Vandenberghe.

For more information, please visit FWD on Moneymax. 

About Moneymax 

Moneymax, part of MoneyHero Group (NASDAQ: MNY), is the Philippines’ largest personal finance marketplace for products such as car insurance, credit cards, and loans. Over 40 million Filipinos have benefitted from Moneymax’s services since its establishment in 2014.

Moneymax empowers Filipinos to lead healthier financial lives through its free, impartial platform that enables customers to easily compare, choose, and apply for the right products online. Customers receive exclusive rewards and discounts for qualified transactions.

Moneymax also helps people make the best financial decisions through educational content on its blog, email, and social media channels.

About MoneyHero Group

MoneyHero Group (Nasdaq: MNY), formerly known as Hyphen Group or CompareAsia Group, is a market leader in the online personal finance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan, the Philippines, and Malaysia with respective brands for each local market. MoneyHero currently manages 279 commercial partner relationships and services 8.7 million Monthly Unique Users across its platform for the 12 months ended December 31, 2023. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.moneyherogroup.com.

About FWD Philippines 

FWD Life Insurance Corporation (FWD Philippines) launched its commercial operations in September 2014. Currently, FWD Philippines is number one in customer experience among insurers in the country.^[1] In just 10 years, FWD Philippines now ranks 3rd and 4th in terms of new business annual premium equivalent^[2] and premium income,^[3] respectively.

FWD Philippines 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.

For more information, please visit fwd.com.ph. 

Sources:

• ^[1] FWD Life Insurance ranks #1 among Insurers in the Philippines in KPMG’s Global Customer Experience Excellence Report 2023 (FWD, 2023)
  
• ^[2] Performance of Life Insurance Companies – New Business Annual Premium Equivalent (NBAPE) as of 31 December 2023 Based on Submitted Unaudited Enhanced Quarterly Report on Selected Financial Statistics (EQRSFS) (Insurance Commission)
• ^[3] Performance of Life Insurance Companies – Premium Income as of 31 December 2023 Based on Submitted Unaudited Enhanced Quarterly Report on Selected Financial Statistics (EQRSFS) (Insurance Commission)