FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay

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Mobile wallet users now have a new and convenient way to start savings and gain insurance protection via the familiar stored value facility

 

HONG KONG, CHINA – Media OutReach – 28 July 2020 – FWD Hong Kong (“FWD”) has introduced its Cash-up Insurance Plan
(“Cash-up”), a fintech initiative that makes it easy for Hong Kong’s mobile
wallet users to establish a savings habit while gaining life insurance
protection at the same time. FWD’s Cash-up is a collaboration with Octopus O!
ePay, Hong Kong’s iconic network based stored value facility operated by
Octopus Cards Limited, and is available via a fully digital, intuitive
interface where customers can conveniently apply for insurance plans, pay
premiums, manage savings, gain returns and make withdrawals.

FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay

FWD partners with Octopus O! ePay to
provide Cash-up Insurance Plan, a digital
insurance solution with guaranteed crediting interest rates to encourage Hong
Kong’s mobile wallet users to establish a savings habit.
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 FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay 

Cash-up
offers
policyholders with guaranteed crediting interest rates of 4-2-2 over the first
three policy years. The crediting interest will be calculated daily, credited
to the account and can be withdrawn at policy anniversaries.

“Cash-up is an easy-to-use insurance product, developed to meet the
changing needs of today’s digital lifestyle and brings our vision to life as we
strive to change the way people feel about insurance every single day,” said Ken
Lau, FWD Managing Director of Greater China and Hong Kong Chief Executive
Officer
. “In addition to added convenience, we also want to encourage
people, especially the younger generation, to form strong saving habits. This partnership
with O! ePay allows us to bring this message and our leading customer
experience to even more people in Hong Kong.”  

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“We are
delighted to welcome FWD as one of our O! ePay online payment service
merchants.  The account value of Cash-up
by FWD can also be used to top up O! ePay, essentially withdrawing the money
back into O! ePay for everyday use. We believe this innovative cooperation will
help make daily expense management even easier for our customers.” said Mr.
Sunny Cheung, Chief Executive Officer of OCL
.

 

Cash-up application is a click away for mobile wallet users

FWD keeps everything simple for Cash-up from the very first step with
Octopus’ O! ePay. O! ePay Plus and O! ePay Pro account holders aged 19 to 70
years (age next birthday) who are Hong Kong permanent identity card holders and
with the support of a second identity document (Home Return Permit or passport)
are eligible to apply for Cash-up.  

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Guaranteed returns for the first three years

Forming strong savings habits is important for young adults taking on
financial responsibilities for the first time, and FWD’s Cash-up offers policyholders a fast start with guaranteed crediting
interest rates of “4-2-2” over the first three policy years, i.e. 4% crediting
interest rate for contributions in the first year of the policy, followed by a
guaranteed crediting interest rate of 2% for the second and third policy year. The crediting interest of Cash-up will be calculated daily,
credited to the policyholder’s account and can be withdrawn at each policy
anniversary.

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Easy to start with no fee for withdrawals plus death benefits

Cash-up can be activated simply with an initial premium payment of as little
as HK$300 through a credit card. There is no limit on the number of contributions
and account value withdrawals through O! ePay, as long as the contribution amount
is within HK$300 to HK$5,000 each time and the withdrawal does not exceed
HK$5,000 a day. Total contributions can be up to HK$20,000 per policy year and
are capped at HK$100,000 per policy term (see also table 1). Unlike traditional
insurance plans, Cash-up does not charge any fees for account value withdrawal,
allowing for extra flexibility to manage savings and wealth.

 

Cash-up is a digital insurance option that combines saving and
protection by also providing life protection. On death, Cash up will pay a benefit
of 105% of the account value and if the death is accidental, Cash up will pay a
further 100% or HK$20,000, whichever is lower.

Note: Cash-up Insurance Plan is underwritten by FWD
Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited
liability). The above information does not contain the full terms and benefits
of the policy, key product risks, and major exclusions. For details, please
refer to its product brochure and policy provisions downloadable at https://www.fwd.com.hk/en/save/cash-up/. This promotion material is
intended to be distributed in Hong Kong only and shall not be construed as an
offer to sell, a solicitation to buy or the provision of any insurance products
of FWD outside Hong Kong. All selling and application procedures of the
promotion must be conducted and completed in Hong Kong.

 

Table 1:
Premium contribution limit and withdrawal limit

Contribution limit

Number of contributions

Unlimited

Per each contribution

at least HK$300 but not more than
HK$5,000

Within a policy year

Total contribution of not more than
HK$20,000

Within the policy term

Total contribution of not more than
HK$100,000

Withdrawal limit

Number of withdrawals

Unlimited

Per each withdrawal

Not less than HK$300

Within a day

Not more than HK$5,000

Account value immediately after each
withdrawal

Not less than HK$300

About FWD Hong Kong & Macau

FWD
Hong Kong offers life and medical insurance, general insurance, employee
benefits, and financial planning. Its life insurance and general insurance
operating entities have been assigned strong financial strength ratings by
international rating agencies — FWD Life Insurance Company (Bermuda) Limited (incorporated
in Bermuda with limited liability) is rated “A3” by Moody’s and “A” by Fitch;
and FWD General Insurance Company Limited is rated “A” by Fitch. FWD Macau
provides a suite of life and medical insurance.

FWD
Hong Kong & Macau is a part of the FWD Group, the insurance business of
investment group, Pacific Century Group. FWD Group spans Hong Kong & Macau,
Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia.

By creating fresh customer experiences with
easy-to-understand products supported by digital technology, FWD aims to become
a leading pan-Asian insurer that changes the way people feel about insurance.

Read Also:  Hong Kong Baptist University-led research unlocks the genomic secrets of organisms that thrive in extreme deep-sea environments

For more information about FWD Hong Kong & Macau please visit WWW.FWD.COM.HK and WWW.FWD.COM.MO.

FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay

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Latest News

ECOVACS ROBOTICS Introduces 9-in-1 DEEBOT T9 In Indonesia – Our Best DEEBOT Just Got Better!

“The Best Just Got Better" with the first robotic vacuum cleaners in the market to combine upgraded vacuuming and mopping capabilities in one go

 

JAKARTA, INDONESIA - Media OutReach - 13 April 2021 - ECOVACS ROBOTICS, the world's leading home service robotics maker, today launched the DEEBOT T9, the first models with intelligent 9-in-1 obstacle avoidance robotic vacuum cleaner that combines powerful vacuuming and mopping functions with a built-in mobile air freshener. The upgraded DEEBOT T9 with these cutting-edge features is more powerful and smarter than ever before.


FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand Spur


FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand Spur


FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand Spur


DEEBOT T9 raises the bar for home cleaning with 9 stunning features, including the ECOVACS' leading TrueDetect 3D 2.0, a real-time strategic obstacle detection and avoidance technology; TrueMapping 2.0 for precise navigation; ECOVACS HOME App upgraded with 3D Map, and OZMO™ Pro 2.0 Electric Oscillating Mopping System that ensures stubborn stains are removed more efficiently and quietly, compared to previous generation.


"We keep a close eye on market demand and there was a clear indication that consumers want smart products that make homecare even simpler, doing as much and as thorough as they can, in one go. ECOVACS is committed to giving consumers the latest in smart and unique cleaning experience," said David Qian, Chief Executive Officer of ECOVACS ROBOTICS. "We've introduced our new-generation technologies, combined with multiple features while adding even more to our DEEBOT T9 to make sure every inch and floor surface is covered. Our Best DEEBOT Just Got Better."


Upgraded ECOVACS HOME App with Improved Obstacle Avoidance and Navigation Technology


TrueDetect 3D 2.0 technology comes with an upgraded algorithm to quickly detect different types of obstacles and strategically avoid them. The DEEBOT T9 can detect object sizes right down to mere millimeters, which is ten times more accurate than products using traditional infra-red technology, with a detection range of 70-350 millimeters. Moreover, DEEBOT T9 can navigate smoothly in different indoor environments and lighting conditions without any interruptions, even in total darkness. TrueDetect 3D 2.0 technology allows the robotic vacuum cleaner to avoid collisions, entanglements, or disruptions, so users do not have to monitor the robot and clean it continuously.

Combining TrueDetect 3D 2.0 and TrueMapping 2.0 with 3D Maps brings a whole new level of automated cleaning efficiency and flexibility for users. They can quickly locate the robotic vacuum cleaner's exact position via the 2D and 3D Maps. They can also manage their entire cleaning task on-the-fly, by toggling between the 2D and 3D Maps with the upgraded ECOVACS HOME App.

The new ECOVACS HOME App is designed for intuitive use, enhancing the user experience and reinforces the ECOVACS branding. The App is easy to navigate, offering users an optimal cleaning route. The interface integrates all the common features so that users can access critical functions easily. They can customize the amount of water used, suction power, cleaning times, and routes for different rooms.


A Luxurious Cleaning Experience with Built-in Air Freshener


The DEEBOT T9 is the first in the industry to clean floors and freshen the air at the same time. Connected to the DEEBOT's mobile system, the air freshener gives users a vacuuming and fragrance experience that goes beyond traditional cleaning.

The air freshener's unique design releases the fragrance onto the floor directly to remove musty and pet odors, while the fan at the bottom of the air freshener unit spreads the fragrance evenly.

The air freshener uses replaceable capsules, that can last up to 60 days, featuring three kinds of fragrances. Users can choose to switch the air freshener on or off using the ECOVACS HOME App, and extend its lifespan.


Powerful In-depth Cleaning Performance with OZMO Pro 2.0 and Auto-Empty Station Compatibility


The DEEBOT T9 comes with latest OZMO™ Pro 2.0 Electric Oscillating Mopping System with a newly designed motor and movement structure that minimizes noise.

The enhanced suction power of 3000 Pa also raises the bar in cleaning performance. The high-strength fiberglass structure keeps the suction power consistent when vacuuming both hard floors and carpets. The high-frequency vibration of up to 480 times per minute increases the mopping performance, making it comparable to an electric mop.

The DEEBOT T9 uses a disposable mopping pad that can be safely discarded immediately after cleaning. The specially-designed microfibers absorb water evenly, efficiently capture dust, and reduce residual water stains. The composite structure increases friction between the mopping pad and the floor and helps the OZMO™ Pro 2.0 Electric Oscillating Mopping System effectively remove stubborn stains on the floor.

A power-up kit is available for the DEEBOT T9 that further enhances the cleaning performance and user experience. The Auto-Empty Station, which clears the robot's dustbin automatically after cleaning with minimal human intervention, is also compatible with DEEBOT T9.


Pricing and Availability


DEEBOT T9's suggested retail price is IDR 8.29 Million. It will be officially available at Shopee with special price of IDR 8.09 Million and comes with a IDR 200K discounted voucher and a free giftpack on April 17 to 18 ECOVACS X Shopee Brand Day.


It is also available at Lazada, Tokopedia, and Blibli from April 19 onwards with an IDR 200K discounted voucher and free giftpack as launch promotion until April 22.

For more information, please visit ecovacs.com or connect with us on FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand SpurFacebook and FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand SpurInstagram.


About ECOVACS ROBOTICS

Innovating Since Day One – Creating the Intelligent Home.


At ECOVACS ROBOTICS, we care about innovating solutions to enhance your lifestyle. Based on a deep understanding of use cases and consumer experiences, we design robots that help you "live smart, enjoy life."


With over 20 years of design and industry-leading research, we have led the market as homes become more intelligent and responsive. We are building a world where your home asks less of your attention, becomes more seamless and powerful, and frees you to spend more time doing what you love.


FWD’s revolutionary Cash-up Insurance Plan makes saving easy through Octopus’ O! ePay - Brand Spur
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