Mr Stuart Fraser, CEO of Fortis Insurance Company (Asia) Limited

Fortis Insurance Company (Asia) Limited (FICA) sees enhancing its products, the professionalism of its people, and its ability to satisfy its clients’ aspirations as the keys to its continued growth

FICA’s long-term goal is to become one of the top five players in Hong Kong’s insurance industry. To do this, it aims to build on its reputation for professionalism and quality client services, and stand out from the competition by building a strong brand in the retail market. 

Since it was rebranded as FICA in August 2007, the company has significantly increased its presence and put in place a structured marketing communications programme that is designed to build awareness of its brand. One example of this is the Fortis billboard on the Victoria Harbour waterfront. Another was the opening of the Fortis Centre in Quarry Bay in June 2008. Located in an increasingly important commercial and residential area with a high-income demographic profile, it has greatly heightened the brand’s visibility.

World-class infrastructure
To pursue its goal of boosting the quality, productivity and efficiency of its services, FICA has invested substantially in its IT infrastructure. Some recent developments have included the launches of the Business Oriented Support System (B.O.S.S.), a new service platform, and the Financial Needs Analysis tool. In addition, it has launched an e-portal that allows its clients to access information about their policies at any time and any place, and perform housekeeping tasks, such as changes of address and fund switches.

The first phase of FICA’s sophisticated new financial planning system has also been inaugurated. It enables consultants to analyse clients’ financial needs and create plans to help them achieve their goals. Its second phase will allow them to submit new proposals online and generate e-documentation with minimal reliance on clerical support.

Top-quality training
FICA attaches great importance to developing the professionalism of its consultants. The Fortis Financial Services Academy provides them with high-calibre training that covers a full range of subjects at various levels, up to Master’s degree programmes offered in partnership with Warnborough College, Ireland. So far, more than 50 of its consultants have successfully completed their studies with flying colours.

FICA’s training courses are evaluated and accredited by professional and academic bodies, such as the Registered Financial Planners Institute and the School of Finance at Guangdong University of Business Studies. Its Professional Trainers Workshop, which is also accredited by Warnborough College, has been particularly successful.

FICA understands that its clients rely on it for expert service, and its consultants are committed to fulfilling its pledge of “Getting you there” by delivering outstanding services and maintaining close partnerships with its clients.

Innovative products
The financial focus of individuals changes at different stages of their lives, and in line with market conditions. Drawing on its diversified range of wealth-protection and management products, FICA’s professional financial planners are committed to developing optimal solutions to suit their clients’ specific needs every step of the way, thus providing them with peace of mind and opportunities to build their wealth.

One example of this approach is FICA’s new “Forever Health”. This new critical illness insurance product has been designed to provide clients with extra financial resources if they experience a major illness. Its revolutionary features include: 

• Comprehensive coverage against 50 major illnesses up to the age of 100;
• Coverage for two types of less-invasive heart surgery and treatment for pituitary adenoma (the first product in the market to offer this); and
• The “Premium Health Protector” option, which will pay benefits up to 300 percent of the basic sum insured if the policyholder contracts any of Hong Kong’s most common major illnesses: cancer, stroke and heart attack.

“It is extremely difficult to differentiate ourselves in Hong Kong’s competitive marketplace,” explains FICA’s CEO, Mr. Stuart Fraser. “Our key strengths are the value for money of our products and the quality of our services. What’s more, our reputation as a socially responsible corporate citizen reassures clients when they do business with us.”

FICA’s commitments to outstanding products and services, a high-quality agency sales force and advanced IT make its management confident that it will be able to build its market share further and realise its vision of becoming one of Hong Kong’s top five insurers.
- Remo Notarianni

PHILOSOPHY
To build a world-class agency sales force; to deliver the best services to clients; to nurture the company’s talent with expert guidance, and encourage its creativity in meeting the constantly changing needs of an evolving financial landscape; and to stay at the industry’s cutting edge by developing “strategic platforms” that allow it to increase its impact in the market by expanding into new areas and creating innovative products

FAST FACTS

• As a responsible corporate citizen, FICA encourages its employees and consultants to participate in community activities
• Since 2003, the FICA Volunteer Team has helped various underprivileged groups in society, including children, the elderly, and the mentally challenged
• Between them, FICA, its consultants and staff raised a total of HK$1 million for the Sichuan earthquake victims
• The company’s teams regularly participate in the Matilda Sedan Chair Race, where they have won several awards for “Best Team Effort” and “Best Decorated Sedan Chair”, as well as the Oxfam Trailwalker, which honoured FICA as the top insurance company fundraiser in 2007
• In addition, FICA’s consultants support the LifeCare Movement, an initiative by the Life Underwriters Association of Hong Kong that encourages policyholders to donate a percentage of their policy premiums to a charity of their choice, thus ensuring it receives a steady income to fund its activities
• FICA has been awarded “Caring Company” logo for the past six consecutive years by The Hong Kong Council of Social Service