From gaming tactics to life planning: FWD Insurance deep dives into Filipino gamers’ financial strategies
While gaming often instills the concept of planning ahead, only a third apply this in real life.
14 June 2024, Manila, Philippines – In celebration of its 10th anniversary, FWD Life Insurance (FWD Philippines) released its pioneering study, “Decoding the Pinoy Gamer,” that deep dives into the unique behaviors, well-being, and financial practices of the Filipino gaming and esports communities. The study reveals a compelling insight: despite 85% of gamers recognizing the importance of insurance, only 30% have taken steps to safeguard their financial well-being against life’s challenges.
As the insurer of the next generation, FWD is committed to supporting the passions of young Filipinos, such as the gaming community. Despite its increasing relevance in the Philippines, evidently having over 43 million gamers, there is still a noticeable lack of comprehensive research on gaming and its impact on health. Recognizing this gap, FWD Philippines conducted a landmark study to provide valuable insights and empower gamers with health and financial protection, promoting responsible 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.”
Getting to know the growing and diverse Filipino gaming community
Dominated by Gen Zs and millennials, the country has over 43 million gamers, which grew by 14.3% between 2020 and 2023.
Spanning diverse habits and behaviors, gamers were categorized according to their gaming duration, money spent in-game, and reason for playing games. Fans (34%) and Casuals (30%) comprise the larger segments but spend less time playing, followed by Enthusiasts (20%), Influencers (13%), and Pros (4%) who lead online conversations and in-game purchases.
With the Philippines producing notable esports athletes, more Filipinos are trying their luck to become pros. However, this shift has also given rise to the negative impacts of gaming in various aspects of life.
Navigating gaming challenges and health status
Although majority of gamers rate their overall health status as at least good, many grapple with gaming-related concerns, such as eye/vision problems (41%), insomnia (17%), and migraine (15%). Some have also mentioned experiencing mental issues during a losing streak, strained relationships, or even financial mishaps.
The study also identified the top priorities of each gamer segment, with Fans showing a strong interest in building their own houses (73%), while Enthusiasts aiming to establish their own business (70%) the most.
To achieve these goals, most gamers allocate their money into their savings accounts, followed by life insurance.
Aligning gamers’ priorities with reliable protection
Despite acknowledging the importance of life insurance, only 3 in 10 gamers own an actual policy. Among those who don’t own insurance, 2 in 5 gamers lack adequate knowledge about the products, hindering their ability to make informed financial decisions.
To bridge this gap, FWD Philippines launched its customizable insurance called The One for gamers and became the official insurer of the participating pro esports athletes of the 12th season Mobile Legends: Bang Bang Professional Leage (MPL-PH). As a result of this initiative, FWD Philippines saw a significant increase in its gamer policyholders, solidifying its commitment to empower more Filipinos to celebrate living.
This year, FWD Philippines continues to make significant strides to insure the gaming community by conducting an online study engaging 943 gamers. Read Decoding the Pinoy Gamer study in full here: fwd.com.ph/gamer-insurance.
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About FWD Philippines
FWD Life Insurance Corporation (FWD Philippines) launched its commercial operations in September 2014. Currently, FWD Philippines is number one in customer experience among insurers in the country1. In just 10 years, FWD Philippines now ranks 3rd and 4th in terms of new business annual premium equivalent2 and premium income3, respectively.
FWD Philippines is part of FWD Group, a pan-Asian life insurance business with more than 13 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD Group was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.
For more information, please visit fwd.com.ph.
1 Based on KPMG's Global Customer Experience Excellence Report 2023
2 www.insurance.gov.ph > Data > Statistics > Life Insurance Companies > 2023 > Based on New Business Annual Premium Equivalent
3 www.insurance.gov.ph > Data > Statistics > Life Insurance Companies > 2023 > Based on Premium Income
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