Group Innovation
The team is continuously generating new ideas towards changing the way people feel about insurance, and building a culture of innovation across FWD. We partner with global start-ups, venture capitalists, universities, and research institutions to gain access to diverse perspectives and expertise, which allow us to create breakthrough technologies and ideas. Here are few of our projects.
The Innovation Flywheel allows our leaders to approach innovation in a structured manner in order to identify pain points and priority areas. We have identified 8 core components – or ‘triggers’ – of innovation ranging from areas such as awareness of innovation, having a strong culture of innovation and the necessary tools and skillsets to execute innovation. Each trigger describes a highly innovative environment and provides a guide to allow leaders to identify areas for improvement. The Flywheel also provides over 70 action items that can improve innovation and each can be customised to suit the needs of any team.
Our Conversational Artificial Intelligence ("AI"), leveraging the power of a cutting-edge large language model, revolutionises the chatbot experience for our customers across multiple touchpoints, including our website and popular instant messaging platforms. With its omni-channel capabilities, our AI seamlessly assists customers on their commerce and servicing journeys, ensuring a consistent and personalized experience. Additionally, our voicebot feature enables customers to interact with our bot via telephony services, reducing the need for extensive call center operations. Furthermore, we have developed a digital human—an incredibly lifelike digital avatar—that serves as a training tool for our agents and assists customers throughout their purchasing journey.
FWD Vision is an advanced electronic Know Your Customer (“eKYC”) and optical character recognition (“OCR”) platform designed to streamline operations and enhance our straight-through process capabilities. Harnessing the power of machine learning and computer vision technology, we have successfully shortened the process of onboarding new documents, enabling us to rapidly expand our document support across different markets. By leveraging FWD Vision, we validate claims documents and identification documents, significantly reducing operational overhead and increasing efficiency.
