Hong Kong – Multinational insurance company FWD Group has announced a five-year agreement for technology services with Amazon Web Services (AWS) as part of FWD’s cloud-first strategy.
As FWD Group’s strategic cloud provider, AWS will continue to host core business applications, ranging from finance to customer and insurance agent interfaces.
The extended partnership with AWS will also provide FWD with greater agility, scalability, and resilience as FWD continues to progressively move away from operating its own onsite data centres.
Examples of previous collaborations with AWS include Omne by FWD, which offers a customer-focused digital self-service and claims process that earned strong net promoter score ratings since its introduction in 2022.
FWD was also supported by AWS in its development of a cloud-based centralised finance hub for collecting, validating, and processing financial, investment, and actuarial data in FWD.
Between 2021 and 2023, FWD saw significant growth in certificates awarded by cloud providers, which included AWS Skills Guild, a programme that builds cloud fluency across an organisation, which trained more than 600 FWD employees and contractors.
Talking about this extended collaboration, Sandeep Pandey, group chief technology & operations officer of FWD Group, said, “At FWD, cloud computing is a holistic business strategy, not just a priority for the technology function. This digital-first mindset has delivered operational infrastructure and capabilities that are not only secure and cloud-based, but also fully integrated across business functions and with valued partners like AWS.”
”With these foundations in place, we can now further scale our generative artificial intelligence (“AI”) deployment in an efficient, effective and responsible way, in line with our vision of changing the way people feel about insurance,” he added.
Meanwhile, Francessca Vasquez, vice president of professional services and generative artificial intelligence innovation centre at AWS, commented, “AWS has been supporting companies in the financial and insurance industry around the world to better serve their customers with its cloud and AI technologies for more than a decade.”
“FWD Group’s ambition of harnessing the power of cloud and generative AI demonstrates their commitment to digital transformation and customer-centricity. We are excited to continue supporting FWD Group with AWS’s proven reliability and capabilities, helping them accelerate innovation, save cost, drive efficiency and expand their business,” she concluded.
