In ensuring fair customer treatment and financial inclusion, Fubon Life is advancing on various fronts. Adopting a customer-centric approach, we design diverse financial products and services, including offerings, marketing campaigns and sales protection mechanisms tailored to the needs of vulnerable groups and the elderly, as well as younger generations.
In response to the rapidly changing environment, the Company continues to integrate various digital technologies to promote a diverse range of online services. We strive to provide comprehensive insurance services tailored to customer needs, improving service quality and efficiency, and optimizing digital service processes in a consistent effort to advance comprehensive insurance services and pioneering innovative digital service experiences.
Full disclosure of product information and ensuring suitability for insurance
For the review process before the launch of a product, the Company has designed relevant checklists, such as the self-checklist for the preparation of insurance product brochures, the checklist for product review considerations, and the relevant legal self-checklist. These internal self-checks ensure that the terms and insurance product brochures comply with legal requirements, which enable customers to fully understand important details and risks associated with the contract, thereby enabling them to confirm the suitability of their insurance purchase. Additionally, periodic sampling calls are conducted to ensure the implementation of the Know Your Customer (KYC) process.
Whether it is external product marketing materials, the product section on the official website, or presentation files for internal marketing training, all materials are reviewed using the Fubon Life Checklist for Product Promotional Materials and Treating Customers Friendly Principles before product launch to ensure compliance with the TCF principles and relevant regulations. Through a step-by-step product launch process, as well as compliance checks of the multiple regulations as follows, we ensure that customers are provided with complete and accurate product information.
Robust Complaint Handling Mechanism
- In 2024, we officially obtained the ISO10002:2018 Complaint Management System Certification from the British Standards Institution (BSI). This certification aligns Fubon Life with international standards, provides a framework for continuously optimizing operational procedures, and strengthens complaint handling processes, management systems, and service quality.
- In 2024, decreased by 11.05% compared to 2023, while the overall complaint rate dropped by 14.38%. Moreover, Fubon Life's complaint rate ranks among the lowest across 21 life insurance companies.
- The company analyzes the sources, types, and outcomes of complaint cases. Significant complaints and consumer disputes are categorized and reported to the board of directors, enabling the board to review the implementation and effectiveness of the company's consumer protection mechanisms.
- In 2024, a comprehensive customer satisfaction survey (survey period: April 19 to May 10, 2024) was conducted, based on survey analysis results, the overall life insurance satisfaction score for 2024 was 92, and the net promoter score (NPS) was 52. The scope of the survey covers service channels including solicitors, service counters, and the 080 customer service hotline. Moving forward, we will continue to conduct regular customer satisfaction surveys and track the satisfaction data for each service category to improve customer service consistently.
The Company has an information security unit dedicated to continuously enhancing information security resilience, strengthening employee awareness of information security, and building a comprehensive risk management mechanism. The Information Security Policy, management regulations, and relevant operating procedures are in place to mitigate potential impacts of any information security incidents. In addition to obtaining the ISO 27001 certification for information security management systems, the Company has adopted the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF) to establish an overall information security management framework that serves as a cybersecurity maturity assessment mechanism, with certification obtained in November 2024. The NIST CSF covers five core functions in information security: Identify, Protect, Detect, Respond, and Recover. Under this framework, the Company practices information security risk management, along with risk assessments conducted to mitigate impacts on critical services. This approach ensures effective identification, defense, response, and resolution of cybersecurity risks when incidents occur, thereby safeguarding customers’ information assets and data while continuously enhancing information security resilience and corporate sustainability.
To further strengthen information security risk governance, the Company reports its information security status to the President through the Operational Risk Management Committee on a monthly basis (12 times annually), presents a quarterly information security overview to the President, and provides an annual internal control system statement jointly signed by the Chief Information Security Officer, summarizing the Company’s overall implementation of information security in the prior year, for submission to the Board of Directors. The Company also continues to engage the General Manager of EY Advisory Services Inc. As a professional information security consultant to provide advisory services to the Board of Directors, thereby enhancing information security within corporate governance.
In addition, the Company is committed to protecting policyholders’ personal data. The Operational Risk Management Committee oversees and directs matters related to personal data protection from the top down. A dedicated unit is also in place, tasked with oversight duties on personal data protection management. It assists in the establishment of a personal data protection framework and system, oversees relevant training programs, formulates annual management plans, and ensures the continuous implementation of a sustainable personal data management structure. In 2024, in addition to renewing certifications previously obtained, the Company expanded its Personal Information Management System (PIMS) certification to include trial services, as well as certain operations in distribution and finance & accounting. The Company successfully passed the review and certification expansion with “no major or minor nonconformities,” demonstrating its firm commitment to personal data protection. Furthermore, to effectively respond to significant data incidents, the Company has established notification and contingency procedures for personal data incidents. Upon occurrence, internal and regulatory reporting is initiated immediately, and the Personal Data Emergency Response Task Force is activated, chaired by the President. The task force convenes emergency meetings to respond, investigate the cause, control damage, and, once the incident is resolved, formulate corrective and preventive measures.
Enhanced efforts to reduce the digital divide for the elderly and persons with disabilities, and strengthen friendly services for other groups
- Friendly financial services to improve the digital divide for the elderly and persons with disabilities.
- Friendly financial services for indigenous peoples, new immigrants, and diverse groups.
Diverse spillover policies available to promote policyholder’s health management
Echoing government policies and attending to national health, Fubon Life actively implements risk management in the damage prevention phase early on and has initiated a new business model of Health-Promoting insurance. Throughout 2024, we have introduced health-promoting products with differentiated rates, transforming the role of health insurance from passive damage coverage to proactive prevention. As of the end of 2024, the number of effective contracts for these products reached 233,877, with total premium income of NT$7,928,253 thousand, receiving strong customer support.
Strengthening basic insurance protection for the elderly
In response to the arrival of an aging society and to meet the insurance needs of the elderly, we have developed small-sum end-of-life insurance. These products are designed with simplicity and clarity as core principles, featuring lower premiums compared to other similar life insurance products. Some products accept applicants up to the age of 84. Under strong promotional efforts in 2024, Fubon Life has seen a growth in the number of micro whole life insurance policies by 33,000 cases compared to 2023. Our efforts were recognized by the Senior Friendly Award for Micro Whole Life Insurance.
Supporting the economically disadvantaged and specific demographic groups
In response to government policies such as the Guidelines for Insurance Companies Conducting Microinsurance Business, Fubon Life actively promotes microinsurance products with a sense of social responsibility towards vulnerable groups. Over the years, Fubon Life has collaborated with the Fubon Charity Foundation to reach more microinsurance beneficiaries in Taichung City, New Taipei City, Kaohsiung City, Nantou County, Taitung County, and Hualien County. We have also maintained ongoing partnerships with charitable and disability organizations such as the World Vision, Catholic Good Shepherd Social Welfare Foundation, Chinese Christian Relief Association, and various branches of the ROC Foundation for Autistic Children and Adults in Taiwan. From 2016 through the end of 2024, the Company has contributed a cumulative total of NT$73.1 million in donations. In 2024, we provided protection to 55,938 underprivileged individuals across Taiwan, with total insured coverage amounting to NT$16.42 billion.