FWD Hong Kong (FWD) has launched its One&All Medical Insurance Plan (One&All), offering flexible and affordable medical protection and integrating Environmental, Social, and Governance (ESG) principles into its design.
The One&All seeks to bridge the significant protection gap in Hong Kong where according to a recent survey by the Census and Statistics Department, over half of Hong Kong's citizens do not have personal medical insurance.
The plan specifically targets Hong Kong public hospitals' self-financed items and imaging tests referred to private medical institutions, enabling more people to access the medical support they need.
FWD also announced its partnership with the Hong Kong Pharmaceutical Care Foundation to offer a first-in-the-market drug consultation and medication management service for customers of One&All and other designated medical insurance products, further enhancing their health management experience.
Mr Kelvin Yu, Chief Product Officer, FWD Hong Kong & Macau, said, "Government statistics show that approximately 3% of patients incur over HKD10,000 in public hospital expenses, while the annual out-of-pocket medication costs for cancer patients can reach up to HKD400,000.
“The self-financed costs for drugs and medical items in the public healthcare system create a significant financial burden for many families. FWD has always been committed to a customer-first approach, striving to bridge the public's health protection gap with innovative products.
“The newly launched One&All Medical Insurance Plan incorporates ESG principles to offer more accessible and affordable protection for our customers and the community.
“One&All offers coverage segmented by hospital type, addressing the pain points of those who lack adequate medical protection, such as the inability to afford high-cost self-financed items in public hospitals, or the risk of missing the crucial treatment window due to long waiting times for imaging tests in the public system. Optional benefit can also be applied for parents without any health underwriting."
The innovative "One&All Medical Insurance Plan" is flexibly designed with three benefit levels, allowing customers to choose their protection based on geographical region, as well as public and private hospital categories, catering to diverse budgets and cross-border medical needs.