Innovative Bancassurance Experience
CCB (Asia) & FWD
Bring you an innovative insurance experience with cutting-edge fintech - Insure now and policies may take effect as soon as same day*
CCB (Asia) and FWD launch a strategic partnership. Through Open Application Programming Interface (Open API) technologies, CCB (Asia) can offer customers an instant, secure and seamless insurance experience, allowing customers to have faster access to the protection they need.
Remark: The related FWD policy may take effect within 1 working day at the soonest. Subject to terms and conditions of the relevant insurance product.
What is “Open API”?
“Open API” refers to “Open Application Programming Interface”, a computer programming approach that facilitates the exchange of information and execution of instructions between different computer systems. Open API allows financial institutions to open up their internal IT systems and data for relevant data access by authorized third-party service providers.
What are the benefits of this Open API collaboration?
Shorten the turnaround time on premium settlement, providing customers with better experience
Automate the premium payment and settlement process for FWD
Lay a foundation for the upcoming InsurTech development
Minimize potential risk of manual work errors and lower the operating costs
This Open API project revitalizes the development of insurance distribution.
The project also enhances data accuracy and strengthens customer privacy protection,
enabling the parties to jointly provide innovative and efficient bancassurance services.
The project also enhances data accuracy and strengthens customer privacy protection,
enabling the parties to jointly provide innovative and efficient bancassurance services.
Learn More about “Open API”
Through Open API technologies, FWD can directly connect to the Bank’s system for programmatic access on the relevant data (e.g. premium payment). This helps minimize manual workload and human errors for both parties and also shortens the turnaround time on premium settlement, which allows swifter insurance protection for customers, achieving a triple-win situation.
Process Overview
The Bank’s system will instantly save transaction data upon receipt of the premium payment^ from customers
FWD insurance policies may take effect within 1 working day provided that the transaction data is successfully identified and verified*
Customers
CCB(Asia)
FWD will access the Bank’s system to
enquire for the premium payment
transaction data via Open API technologies
from time to time
enquire for the premium payment
transaction data via Open API technologies
from time to time
CCB (Asia) will return related premium payment amount and policy number to FWD upon request
Remarks: ^Include initial premium and renewal premium payment *Subject to terms and conditions of the relevant insurance product
Contact our professional advisors to learn more about the all-round wealth & health solutions tailored to your needs!
The above services and offers are bound by related terms and conditions, please contact our staff for details.
Notes
“CCB (Asia)” or “The Bank” refers to China Construction Bank (Asia) Corporation Limited. “FWD” refers to FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability).
“CCB (Asia)” or “The Bank” refers to China Construction Bank (Asia) Corporation Limited. “FWD” refers to FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability).
Disclaimers
China Construction Bank (Asia) Corporation Limited (Insurance Intermediary License No: FA3132) (“the Bank”) is the appointed insurance agency of FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) ("FWD Life"), to distribute life insurance products in the Hong Kong Special Administrative Region. Relevant life insurance products are the products of the insurance companies but not the Bank. The above life insurance products are issued and underwritten by FWD Life. FWD Life is authorized and regulated by the Insurance Authority (“IA”) to carry on long-term insurance business in the Hong Kong Special Administrative Region. Please refer to the sales documents, including product brochure, benefit illustration and policy documents and provisions issued by FWD Life for details (including but not limited to insured items and coverage, detailed terms, key risks, conditions, exclusions, important notes, policy costs and fees) of the life insurance products. FWD Life reserve the right to decide at each of their sole discretion to accept or decline any application for life insurance product according to the information provided by the proposed Insured and the customer at the time of application. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the life insurance product should be resolved between FWD Life and the customer directly. Information on this website is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) for reference only, and shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any insurance product in or outside Hong Kong.
Pursuant to the Insurance (Levy) Regulation (Cap. 41I) and the Insurance (Levy) Order (Cap. 41J) under the Insurance Ordinance (Cap. 41), the IA collects levies for insurance premiums from policyholders with effect from 1 January 2018. For further details, please visit the website of IA. For the latest information about the IA, please visit https://www.ia.org.hk. For the latest information about The Insurance Complaints Bureau, please visit https://www.icb.org.hk.
China Construction Bank (Asia) Corporation Limited (Insurance Intermediary License No: FA3132) (“the Bank”) is the appointed insurance agency of FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) ("FWD Life"), to distribute life insurance products in the Hong Kong Special Administrative Region. Relevant life insurance products are the products of the insurance companies but not the Bank. The above life insurance products are issued and underwritten by FWD Life. FWD Life is authorized and regulated by the Insurance Authority (“IA”) to carry on long-term insurance business in the Hong Kong Special Administrative Region. Please refer to the sales documents, including product brochure, benefit illustration and policy documents and provisions issued by FWD Life for details (including but not limited to insured items and coverage, detailed terms, key risks, conditions, exclusions, important notes, policy costs and fees) of the life insurance products. FWD Life reserve the right to decide at each of their sole discretion to accept or decline any application for life insurance product according to the information provided by the proposed Insured and the customer at the time of application. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the life insurance product should be resolved between FWD Life and the customer directly. Information on this website is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) for reference only, and shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any insurance product in or outside Hong Kong.
Pursuant to the Insurance (Levy) Regulation (Cap. 41I) and the Insurance (Levy) Order (Cap. 41J) under the Insurance Ordinance (Cap. 41), the IA collects levies for insurance premiums from policyholders with effect from 1 January 2018. For further details, please visit the website of IA. For the latest information about the IA, please visit https://www.ia.org.hk. For the latest information about The Insurance Complaints Bureau, please visit https://www.icb.org.hk.
Risk Disclosure
Customers should read the sales documents, including product brochure, benefit illustration (if applicable) and policy documents and provisions issued by relevant insurance company to understand the details of the insurance plan (including but not limited to detailed terms, conditions, coverage, exclusions, fees and product risks) and consider whether the insurance product meets their personal needs before application. Policyholders are subject to the credit risk of relevant insurance company.
For life insurance product, an insurance plan may comprise a savings element. Part of the premium will be paid for the insurance and related costs. If a customer is not completely satisfied with his/her life insurance policy, the customer has a right to cancel it within the cooling off period and obtain a refund of relevant premium and levy paid. To exercise such right, a notice of cancellation signed by the customer must be received by relevant insurance company’s Hong Kong Main Office within the cooling off period (i.e. within 21 calendar days immediately following either the day of the delivery of the policy or delivery of a Cooling-off Notice (stating the availability of the policy and expiry date of the cooling off period) to the customer or the customer’s nominated representative, whichever is the earlier). After the cooling off period is expired, if a customer cancels the policy before maturity, the surrender value may be less than the total premium the customer has paid.
Customers should read the sales documents, including product brochure, benefit illustration (if applicable) and policy documents and provisions issued by relevant insurance company to understand the details of the insurance plan (including but not limited to detailed terms, conditions, coverage, exclusions, fees and product risks) and consider whether the insurance product meets their personal needs before application. Policyholders are subject to the credit risk of relevant insurance company.
For life insurance product, an insurance plan may comprise a savings element. Part of the premium will be paid for the insurance and related costs. If a customer is not completely satisfied with his/her life insurance policy, the customer has a right to cancel it within the cooling off period and obtain a refund of relevant premium and levy paid. To exercise such right, a notice of cancellation signed by the customer must be received by relevant insurance company’s Hong Kong Main Office within the cooling off period (i.e. within 21 calendar days immediately following either the day of the delivery of the policy or delivery of a Cooling-off Notice (stating the availability of the policy and expiry date of the cooling off period) to the customer or the customer’s nominated representative, whichever is the earlier). After the cooling off period is expired, if a customer cancels the policy before maturity, the surrender value may be less than the total premium the customer has paid.