FWD study uncovers insurance gap among Filipino gamers
FWD study uncovers insurance gap among Filipino gamers | Insurance Business Asia
Life & Health
FWD study uncovers insurance gap among Filipino gamers
Insurer launches coverage for gamers
Life & Health
By
Roxanne Libatique
FWD Life Insurance (FWD Philippines) has released a new study titled “Decoding the Pinoy Gamer,” which delves into the financial habits, health, and behaviours of the Filipino gaming community.
This study marks FWD Philippines’ 10th anniversary and highlights a significant insight: although 85% of gamers understand the importance of insurance, only 30% have taken action to protect their financial future.
Supporting the gaming community
FWD Philippines said it aims to support young Filipinos’ interests, including gaming. With over 43 million gamers in the Philippines, the industry has grown substantially, yet comprehensive research on its impact has been limited.
This study by FWD Philippines seeks to fill that gap, offering crucial insights and encouraging gamers to adopt healthier gaming habits and informed financial decisions.
“Supporting the gaming community – from developers, players, and fans – is part of our efforts in contributing to nation-building,” said FWD Philippines chief marketing and digital business officer Roche Vandenberghe. “In line with the Philippine Creative Industries Development Act, we are expanding financial inclusion for more Filipinos, including gamers, through innovative insurance products that prioritize affordability and accessibility. This is why our policies are also conveniently available for purchase through our online shop, since we understand that gamers are primarily present in the online space.”
Filipino gamers’ financial behaviours
The study classified Filipino gamers, primarily from Gen Z and millennial demographics, based on their gaming time, spending patterns, and motivations. Fans (34%) and casuals (30%) are the largest groups, with enthusiasts (20%), influencers (13%), and pros (4%) following.
Many gamers report good overall health, but issues such as eye strain (41%), insomnia (17%), and migraines (15%) are prevalent. Additionally, gamers face mental health challenges, strained relationships, and financial difficulties.
When it comes to financial goals, fans prioritise homeownership (73%), while enthusiasts are focused on starting their own businesses (70%). Gamers generally prefer to save money, with life insurance being a common investment.
FWD Philippines launches gamer insurance
Despite the high awareness of life insurance, only 30% of gamers have policies, largely due to a lack of product knowledge. To address this, FWD Philippines introduced “The One,” an insurance product specifically designed for gamers.
The company also partnered with the 12th season of the Mobile Legends: Bang Bang Professional League (MPL-PH) to become the official insurer, resulting in increased policy uptake among gamers.
In 2023, FWD Philippines conducted an online survey involving 943 gamers to further understand their needs and promote insurance within the community. The full “Decoding the Pinoy Gamer” study can be accessed at fwd.com.ph/gamer-insurance.
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