Finance Products/Services
Sustainable/Green Loans
Top among Taiwan banks in wind power lending from Taipei Fubon Bank
- Leads all Taiwan-invested banks in outstanding loans for offshore wind projects, has market share of 25% in 2021.
- Continue to finance green energy or alternative energy industries.
The first green finance certified by a third-party agency in Taiwan
Taipei Fubon Bank and Yuen Foong Yu, a leading paper industry group, launched the first third-party-certified green finance program in Taiwan in July, 2021. This was certified by a third-party organization. The proceeds will be used for renewable energy generation, zero coal-fired steam and electricity co-generation, and energy saving in recycled paper production. It is Taiwan’s first green finance project certified by a third-party accounting firm in accordance with the international standard of Green Loan Principles 2021
ESG Products for Asset Managers
In its role as an asset manager, Fubon Asset Management abides by the Principles of Responsible Investment (PRI) and continually monitors the sustainability commitment of the companies invested in, including their environmental, social and governance practices. Fubon uses sustainability research and surveys on the companies invested in, engagement efforts, and shareholder activism to exert its influence in encouraging those companies to operate sustainably. Fubon Asset Management has established related internal standards, covering the management of different types of assets, the use of positive and negative investment screening, and integrated investment analyses to incorporate ESG factors into investment decisions.
| Sustainable Investment Products Category | Products Covered | 2022 AUM (NT$100 million) |
|---|---|---|
| ESG Integration |
|
825.03 |
| Best in Class |
|
406.35 |
| Thematic |
|
158.63 |
| Other |
|
2,819.01 |
| Total AUM | 4,445.88 | |
| Total sustainable AUM | 4,209.02 | |
| Percentage of sustainable AUM over Total AUM | 94.67% |
ESG-related Insurance Products and Services
Natural Disaster Services and Agriculture Insurance
Fubon Insurance provides business continuity planning and post-disaster loss control services that help customers quickly rebuild their operations and reduce capital expenditures when a disaster occurs, limiting the potential risks from accidents. With the backing of the global reinsurance market, the company offers complete protection against natural disasters to companies and the public through earthquake, typhoon and flood insurance and business interruption insurance. Fubon Insurance has also actively participated in the Council of Agriculture’s pilot program for crop insurance, developing insurance products best suited to Taiwan. It launched Taiwan’s first agriculture insurance policy (for top grafted pear crops) in 2015, and has since introduced policies covering pears, rice, bananas, grouper, milkfish, striped bass, tilapia, watermelons and, in 2022, red beans, as well as typhoon and flood insurance for agricultural facilities. These products give Taiwan’s farmers and aquaculture operators insurance options that help them divert risks from natural disasters. Fubon Insurance has also worked closely with experts in other fields to develop innovative products tailored to the special characteristics of different crops.
- Loss Control Services and Agriculture Insurance Products
- Insurance for Green Energy Products
- Sustainbility-related Insurance Products
- Liability and Innovative Insurance
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- Natural Disasters
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- Natural Disaster Insurance
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- Crops
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- Pear Crop Insurance
- Rice Crop Insurance
- Banana Crop Insurance
- Watermelon Crop Insurance
- Red Bean Insurance (launched in 2022)
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- Aquaculture
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- Temperature-indexed Parametric Aquaculture Insurance
- Parametric Rain Aquaculture Insurance
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- Agricultural Facilities
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- Typhoon and Flood Agricultural Facility Insurance
Fubon Insurance has made harnessing its core
competencies to create environmentally friendly products and services a
top priority. Beyond using its influence to push green concepts, it also
hopes to achieve its vision of a low-carbon lifestyle and environmental
sustainability by giving customers incentives to get involved.
Fubon Insurance rolled out “Environmental Pollution
Liability Insurance” to raise environmental awareness among
ESG-sensitive gas station owners and storage tank operators and help
them manage pollution risks to the soil and groundwater. This coverage
offers protection against liability for losses, compensation, or cleanup
or remediation costs generated by accidental or gradual pollution. But
if a potential client for this insurance has been put on a government
watch list, indicating that the location where the client operates could
have soil or groundwater pollution issues, the applicant will only be
able to get insurance once it completes a remediation plan and is
removed from the watch list.
To address global emerging risk, Fubon Insurance relies on liability
insurance and new types of
insurance products to help companies operate sustainably and strengthen
their corporate governance, make it easy for enterprises and individuals
to divert risk, and beef up social resilience.
Fubon Insurance Loss Control
Services
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Fire / Explosion Risk
Assessment System -
Civil Engineering
Projects Risk
Assessment -
Earthquake Risk
Assessment Services
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Infrared Thermographly
Testing Services -
Instrumentation and
Control Security /
Layers of Protection
Analysis -
Business Continulty
Planning
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Business Continulty
Planning -
Loss Control Education
and Training -
Typhoon and Flood Risk
Potential Analysis
SERVICES AND PRODUCTS FOR THE ELDERLY
Fubon actively takes steps to protect the rights and interests of older customers and assess their risk profiles to foster comfortable and secure lives for the elderly. Fubon Life, for example, has worked with social welfare groups to promote dementia prevention concepts and ensure the health care rights of seniors living in remote parts of Taiwan. Through these and other actions, the company has sought to raise social awareness of aging and elderly health care issues.
Provide Services for the Elderly
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1Fubon Life
Using Technology to Track People＋ －Results- Worked with New Taipei City to make use of smart dementia watches and the websites of local social groups to better prevent people with dementia from getting lost and make it easier to find them; continued to monitor nearly 100 people with dementia or senior citizens living in rural or remote areas; presented in 2022 the results of this public welfare initiative.
- Has joined with the Federation for the Welfare of the Elderly to get hospitals to provide dementia bracelets to patients diagnosed with memory issues; 1,600 bracelets were distributed in 2022, bringing the total of more than 15,000 since the campaign was launched.
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2Fubon Life
Dementia Education Seed Project＋ －Results- Teamed up with Business Weekly to hold a forum on dementia care trends in Japan and other aging societies; invited renowned Japanese dementia expert Yoshiya Hasegawa to appear online to share dementia prevention and clinical care ideas. More than 45,000 family members caring for relatives with dementia and members of the public saw the livestream or viewed the video when it was reposted.
- More than 45,000 family members caring for relatives with dementia and members of the public participated either in person or online.
- Joined with the Federation for the Welfare of the Elderly on an activity promoting dementia bracelets and responded to the Taiwan Alzheimer’s Disease Association’s 2022 World Alzheimer’s Month campaign by supporting two animated videos on dementia called “Signs of Dementia” and Prevent People from Getting Lost.”
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3Fubon Life
Medical Service Accessibility Project for Senior Citizens in Remote Areas＋ －Results- Partnered with the Formosa Cancer Foundation to offer transportation subsidies to elderly cancer patients in remote parts of townships in southern and eastern Taiwan. Unprecedented in the industry, the project has helped 1,768 elderly cancer patients get care by offering transportation subsidies of up to NT$8,000 per patient since 2017. The total subsidized distance traveled to medical facilities has reached 1.09 million kilometers.
- The “Survey on the Predicament of Cancer Patients in Taiwan to Travel for Medical Treatment” and the documentary on “Elderly Cancer Patients' Journey to Treatment” successfully raised public awareness of medical accessibility in remote areas (with over 230,000 views) and led to donations totaling more than NT$6.03 million to the Formosa Cancer Foundation.
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4Taipei Fubon Bank
Elder care trusts＋ －Results- Elder care trusts had assets of NT$3.997 billion at the end of the year, up more than 65.9% from a year earlier, because of branch training and seminars for customers held during the year introducing the concept behind elder care trusts.
- In 2022, Taipei Fubon Bank handled 310 new asset trusts to care for the elderly and people with disabilities, benefiting 655 people.
- Opened “Early Start Trusts” aimed at providing care for the trusts’ beneficiary(ies) when they get older; added 975 new beneficiaries
- Won honorable mention for “Best Elder Care Trust Innovation Award” at the Trust Awards sponsored by the Commercial Times; was the only private bank to earn a “Trust 2.0 Evaluation Best Trust Award”
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5Taipei Fubon Bank
Elderly Care and Protections＋ －Results- Taipei Fubon Bank set up a page on its website exclusively for the elderly and posted videos of fraud prevention in both Mandarin and Taiwanese that had been browsed 98,000 times as of the end of 2022
- For customers aged 65 and above who are subject to the highest level of control based on a risk profile assessment, a “risk warning” is issued for every transaction. If customers in this category use Fubon’s internet or mobile banking platforms to make an investment transaction, smart status checks are in place that require the customer to answer all of the questions correctly before the investment transaction can be made.
- The first time they apply for professional investor/professional client status, a two-week “cooling-off period” is imposed from the time their application is approved.
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6Fubon Securities
Prevention – Elderly Clients＋ －Results- Appropriate risk profile assessments conducted for elderly customers, with controls imposed based on each customer’s risk level, including issuing a risk notification before every transaction
- Customers who qualify as professional investors are required to have their qualifications reviewed annually to check whether they still meet the necessary requirements and conditions
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7Fubon Securities
Super-easy Service Initiatives for Seniors＋ －Results- Fubon Securities has adopted several measures to help older customers, including voice-assisted functions when they use the e-trading app to buy or sell stocks. Customers can use voice commands for everything from checking a stock to placing a trade order.
- Was the first domestic securities firm to provide a toll-free hotline for older customers; when customers aged 65 or over use the hotline to call the customer service center, they are put through directly to a customer service associate rather than having to navigate a phone menu; service is provided in both Mandarin and Taiwanese
- Credit card-sized magnifiers available at all branches for elderly customers to use
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8Fubon Securities
Fraud Prevention – Elderly Clients＋ －Results- Appropriate risk profile assessments conducted for elderly customers, with controls imposed based on each customer’s risk level, including issuing a risk notification before every transaction
- Customers who qualify as professional investors are required to have their qualifications reviewed annually to check whether they still meet the necessary requirements and conditions
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9Fubon Securities
Super-easy Service Initiatives for Seniors＋ －Results- Fubon Securities has adopted several measures to help older customers, including voice-assisted functions when they use the e-trading app to buy or sell stocks. Customers can use voice commands for everything from checking a stock to placing a trade order.
- Was the first domestic securities firm to provide a toll-free hotline for older customers; when customers aged 65 or over use the hotline to call the customer service center, they are put through directly to a customer service associate rather than having to navigate a phone menu; service is provided in both Mandarin and Taiwanese
- Credit card-sized magnifiers available at all branches for elderly customers to use
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10Fubon Asset Management
CIER Retirement Fund Management and ETF Investment Study＋ －Results- Fubon Asset Management has commissioned the Chung-Hua Institution for Economic Research every year since 2017 to do a survey-based study on Taiwanese citizens’ financial needs for retirement and ETF investments, and to also analyze the retirement planning practices of different age groups. Based on the study’s findings, the company has continued to issue ETFs that reflect future long-term trends and hold forums on retirement finance to help local residents plan their retirements.
- The company has held five forums from 2019 to the present on ways to deal with Taiwan’s aging society and the development of local wealth management products for retirement. A total of more than 2,000 people have shown up to the forums in person and nearly 300,000 have followed them online.
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11Taipei Fubon Bank Charity Foundation
Senior Care Active Aging Program＋ －Results- Organized several activities for seniors to promote healthy aging, including the “Fubon Jiazi Singing Competition,” “Happy Train Program” outings, the “Autumn Sun Love” disease prevention program, a music therapy initiative, a program to maintain the health of seniors in remote areas, an energetic aging program, a “Homecoming Dream Project,” and a “Give Family Caregivers a Breather” initiative for caregivers. A total of 210 events were held, benefiting 7,125 people.
Products for the Elderly
Fubon Life makes it its business to care about people’s health and meet the growing needs of Taiwan’s rapidly aging society and continues to offer elder care trusts and health-oriented insurance products. In 2022, there were 52,339 Fubon Life insurance policies providing medical coverage for the elderly in circulation, generating premium income of around NT$1.1 billion.
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1Hospitalization Insurance for Seniors＋ －FeaturesMost pay-as-you-go medical insurance policies only protect people to the age of 75. Given that life expectancy is rising in Taiwan and out-of-pocket medical costs continue to increase, Fubon introduced pay-as-you-go hospitalization insurance that extends to the end of the policyholder’s life.Product Name
- Fubon Life Hospitalization Whole-life Insurance Rider
2022 Policies/Income- Number of valid policies: 910
- Premium income(NT$ million): 25.71
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2Products for Seniors - Long-term Care Insurance＋ －FeaturesOffers policyholders a variety of options by diversifying long-term care products including long-term care insurance that covers physiological disabilities, cognitive disabilities, specific diseases that require long-term care, etc.Product Name
- Fubon Life (New) Long-term Care Whole-life Insurance
- Fubon Life Full-Care Whole-life Health Insurance
- Fubon Life (New) Long-term Care Term Health Insurance
- Fubon Life (New) Long-term Care Whole Life Insurance
- Fubon Life Long-term Care Whole Life Health Insurance Rider
2022 Policies/Income- Number of valid policies: 23,969
- Premium income(NT$ million): 734.92
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3Coverage for Special Medical Devices and Whole-life Medical Insurance＋ －FeaturesProvides coverage for devices such as coronary stents, artificial hips, artificial knees, and artificial intraocular lenses often needed by older people; introduced a medical savings account insurance plan that includes coverage of outpatient expenses not covered by the national health insurance system.Product Name
- Fubon Life Senior Wellness Whole-life Health Insurance
- Fubon Life Whole-life Medical Insurance
- Fubon Life LOHAS Whole-life Health Insurance
2022 Policies/Income- Number of valid policies: 3,453
- Premium income(NT$ million): 91.73
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4Deductible Pay-As-You-Go Hospitalization Insurance＋ －FeaturesGiven the rise in self-paid medical expenses, Fubon introduced a deductible pay-as-you-go medical insurance addendum. Policyholders can choose to top up the amount of coverage to include the daily cost of a hospital room, the costs of hospitalization, and hospital and outpatient surgeries. Fubon also offers policyholders a variety of plans from which to choose.Product Name
- Fubon Life Hospitalization Term Insurance Rider
- Fubon Life Hospitalization One-year Term Insurance Rider
- Fubon Life Practical Hospitalization Term Insurance Rider
2022 Policies/Income- Number of valid policies: 23,350
- Premium income(NT$ million): 133.12
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5Retirement Return-of-Premium Whole Life Insurance＋ －FeaturesTo maintain the national income replacement ratio among retirees, Fubon introduced lifetime insurances with a variety of premium plans. Policyholders can start claiming money back at the age of 55, 60, or 65. It helps policyholders meet retirement needs by offering whole-life protection.Product Name
- Fubon Life (New) Enjoy Wealth Return of Premium Whole-life Insurance
2022 Policies/Income- Number of valid policies: 657
- Premium income(NT$ million): 111.44
Health Management Products
Fubon introduced impaired-risk insurance for diabetes sufferers that offered them comprehensive coverage. The concept behind traditional insurance policies is to provide a benefit after something happens. In contrast, "spillover" policies are proactive, providing discounts on premiums to policyholders who effectively manage their own health. We also used an app from Health2Sync to encourage policyholders to manage their health. The policy was the first to offer discounts on premiums based on blood sugar data. The lower a user’s glycated hemoglobin (HbA1c), the steeper the discount, up to a maximum of 40% off, an incentive that stresses prevention to keep people healthy. In 2022, Fubon Life had 50,601 active "spillover" policies in circulation, which generated NT$3.4 billion in premiums
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1Impaired-risk Insurance for People with Diabetes＋ －Offers medical coverage to people with diabetes while giving them an incentive to manage their health; through this approach, health promotion concepts spill over into the policy.Product Name
- Fubon Life Smart Term Health Insurance
2022 Policies- Number of active policies：642
- Premium income：NT$13.83 million
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2Walking Spillover Policies＋ －Aside from providing basic insurance coverage, the policy also incorporates health management concepts through the use of a wearable fitness device. Customers who walk a certain number of steps can get a discount on their premiums or health management rebates.Product Name
- Fubon Life Walker Term Health Insurance
- Fubon Life e-Term Life Insurance
- Fubon Life GO Term Health Insurance for Critical Illness
2022 Policies- Number of active policies：1,810
- Premium income：NT$13.02 million
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3Cancer Checkup Spillover Policies＋ －Aside from providing basic insurance coverage, the policy also provides policyholders with next-generation circulating tumor cell testing and tumor marker testing. Policyholders can use this insurance product to better manage their health and get a discount on their premiums.Product Name
- Fuyi Heritage Variable Interest Rate Whole Life Insurance
- Increased Value Health and Critical Illness Life Insurance
- Foreign Currency Variable Interest Rate Type Whole Life Insurance
- Fuyi Foreign Currency Variable Interest Rate Type Whole Life Insurance
- Hsinmei Foreign Currency Variable Interest Rate Type Whole Life Insurance
- Yihsin Hsiangfu Variable Interest Rate Whole Life Insurance
- Fukang Variable Interest Rate Whole Life Insurance for Seniors
- Cancer Prevention Term Health Insurance (spillover policy)
- Huafu Manyi Variable Interest Rate Whole Life Insurance
- Huafu Meiyi Foreign Currency Variable Interest Rate Whole Life Insurance
2022 Policies- Number of valid policies：18,421
- Premium income：nearly NT$3.08 billion
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4Standard Physical Checkup Spillover Policy＋ －Aside from providing basic insurance coverage, the policy also provides physical checkup services. The physicals provided include: standard health checks, long-term care disease checks, cardiovascular disease checks, and cancer checks. The product’s main goal is to encourage policyholders to manage their own health and detect diseases at early stages.Product Name
- Fubon Life Health (In-kind benefits type) Insurance
- (New) Major Injury/Illness Whole Life Health Insurance
2022 Policies- Number of active policies：12,067
- Premium income：NT$167.24 million
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5Designated vaccination and checkup spillover policy＋ －Regular physical checkups can help detect potential diseases or risk factors at an early stage, leading to early treatment. Getting vaccinated can reduce the risk of getting sick, getting seriously ill, or dying.Product Name
- Medical Treasure Major Injury/Illness Term Health Insurance (V1)
- Yiyanghe Major Injury/Illness Term Health Insurance
- (New) Gold Protection Whole Life Health Insurance
- Medical Reassurance Major Injury/Illness Insurance
2022 Policies- Number of active policies：17,661
- Premium income：NT$129.06 million