FWD becomes country’s No 7 ranked life insurer

Mike Plaxton, chief executive officer, said in press release on Monday that FWD delivered an excellent set of results in 2016 with double-digit growth in all distribution channels.
“We are ranked No 7 in the industry, and our brand consideration grew significantly from 17 per cent to 27 per cent,” he said. “Our strong growth is down to the engagement of our people – our employees, agents and customers, and our ability as a company to utilise digital technology to allow our customers fast, convenient and accessible interaction with our products and services.”
Plaxton said the company’s strategic approach in 2017 focused on five pillars: strong growth of sales and value; brand and operational effectiveness; effective people management; solid financial and capital management and corporate governance; and an excellent customer experience strategy.
He said FWD’s strategy would be enabled by a commitment to improve the development and training of its distribution sales forces, and its focus on creating an outstanding customer experience delivered through innovative customer-led propositions, digitally-enabled relationships and technology-driven distribution. 
“Our customer satisfaction index score falls at 72 per cent, slightly higher than the industry average of 69 per cent,” he said. “We are confident that our customer-led focus, together with the simplicity and transparency of our ‘outside-in’ customer solutions, will make our customers’ lives better and change the way people feel about life insurance. The goal of being top five in 2018 is not far out of reach.” 
Plaxton added: “FWD’s growth in 2016 extends to more than just its financial results, with now more than 840,000 customers, more than 720 employees, and almost 5,000 agents around the country.”