In fufilling a people-oriented ethos, Cathay FHC aims to bring happiness to society by providing the elderly, women, and the underserved with products and services that respond to high social risks and expand access to universal finance in innovative ways.

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Diverse products protect elderly health and ensure a life of security and happiness

The Asia Pacific Risk Center pointed out that Asia's population is aging at the fastest rate in the world. On this aging trend, Taiwan will transition from an aged society to a hyper-aged society in eight years. Taiwan will become the world's “oldest” country by 2050. The economic pressure and healthcare demands from the rapid increase of the elderly population will become a potential social issue in the future.
In accordance with its people-oriented business philosophy, Cathay Life actively addresses the social risks of the elderly by providing diversified insurance products to resolve possible problems in later years. In responding to the aging issue, Cathay Life launched 9 new insurance products in 2017 and served as the best supporter of social stability.
Cathay Life offered the first whole life micro insurance "Cathay Life Wei Shin Ai Small Amount Whole Life Insurance" in 2017 to help citizens alleviate economic risks brought by aging society. Cathay Life hopes to raise people's awareness of mortality risk so that they make plans accordingly. This insurance product assists the economically disadvantaged or elderly who can not be approved for life insurance products obtain basic protection at an affordable premium. Up to the end of 2017, Cathay Life wrote nearly 160,000 policies with total insured amount exceeding NT$45.8 billion, gaining a double achievement of selling the highest number of insurance policies and collecting the largest amount of premiums from new contracts among all industry peers.

According to the latest listing of the ten leading causes of death announced by the Ministry of Health and Welfare in 2015, cancer continued to be the leading cause of death for the 34th consecutive year. In light of this national health risk, Cathay Century utilized its insight into the urgent need of cancer patients for targeted therapy in the development of an innovative product - "Cathay Century Targeted Cancer Therapy Insurance for First Time Cancer Patients." The insurance product provides a lump-sum payout for targeted cancer therapy policy holders diagnosed with cancer for the first time, giving cancer patients the option of choosing to undergo the most effective form of treatment.

 

CUB protects the economic independence of the elderly through the Disability & Retirement Trust

The Trust Department of CUB has always performed professionally in responding to social risks in an innovative way. CUB launched the Disability & Retirement Trust in 2016 to protect the elderly and people with disabilities. The trust allows people to entrust different types of property, and ensures that trust properties are used exclusively for designated purposes. This allows the elderly and people with disabilities to live a happy life with dignity. Up to the end of 2017, CUB undertook 314 Disability & Retirement Trust cases, among which, 34 cases were undertook in 2017, for which a total of NT$1.4 billion has been entrusted. CUB was recognized by the FSC in 2017 for its excellent performance in establishing trusts for the elderly and people with disabilities in the year 2016.

 

 

 

Pre-Calculation Service Area of Cathay SITE’s Official Website

Cathay SITE set up a “Retirement Pre-Assessment” Area to help the retired analyze potential risks after their retirement on its website. Based on a customer’s aptitude for investment, Cathay SITE then provides the most suitable products for them. Through pre-assessment, Cathay SITE helps customers understand the keys to a carefree life after retirement.

 

Integrating group resources, extending care through the Insurance Benefits Trust

Insurance creates a basic safety net for policy holders, and the Insurance Benefit Trust reinforces this safety net. CUB Insurance Benefit Trust fulfill people's wishes to take care of beloved family members by planning the actual use of insurance benefits and entrusting the bank make payments for such items as living and education expenses according to contract. This ensures that insurance benefits are used for designated purposes and the care for the needs of family members. CUB has a market share exceeding 40% in the insurance benefit trust market. CUB further integrated group resources by launching a mechanism that automatically entrusts death benefits from Cathay's travel insurance into the Insurance Benefit Trust. Policy holders of Cathay Life or Cathay Century's travel insurance can choose to automatically entrust death benefits to the Insurance Benefit Trust by simply checking the option. This completes Cathay's comprehensive insurance and trust integration mechanism.
CUB has accumulated a wealth of experience over the years by closely attending to what customers need, whether it be children's protection trusts, equity planning trusts, inheritance trusts, orinsurance benefits trust. CUB provides professional consulting on demand and has helped multitudes of customers make plans in advance, distribute their resources, and carry on their fatherly or motherly love and care.

 

Actively helping enterprises engaging in long-term and elderly care raise funds in the capital

Cathay Securities endeavors to satisfy funding requirements that support the elderly care industry. Cathay Securities successfully assisted MedFirst Healthcare Services Inc. to become listed on the Taipei Exchange in 2014, injecting new energy into the long-term care industry through accessing the capital markets. As the company continued to expand its business and improve its service quality, Cathay Securities again in 2017 assisted the company to raise funds in the capital markets amounting to approximately NT$320 million. In the future, Cathay Securities will continue contributing to the aging society and elderly care industry by actively supporting enterprises engaging in long-term and elderly care.

 

Industry-university cooperative project with Smart-Age Alliance

Cathay FHC has been concerned about the aging society for many years. It has become the only financial institution to work with Smart Aging Design Courses in 2017 in the three years since the courses were first offered. The Smart Aging Design Courses bring together elderly health management, engineering and design students from five universities in Taiwan, including National Taiwan University. Course lecturers come from both industry and academia and aim to cultivate interdisciplinary talent, while providing solutions for aging society issues. Over 160 students have taken the courses since they were first offered in 2015. Cathay FHC hopes to create the friendliest financial service experience for the elderly through long-term industry-academia collaboration.


Cathay Life and Cathay Century take care of the economically disadvantaged through Micro Insurance

Cathay Life currently offers five Micro Insurance products that apply to both individual and group insurance. The insurance products cover accident death, accident disability, accident hospitalization, and life insurance. As of the end of 2017, Cathay Life has provided cumulative insured amount of NT$46.02 billion, enabling 148,000 disadvantaged citizens to gain basic protection and services with a limited budget. Cathay Life has offered instant economic support for 322 disadvantaged families.

Cathay Century offers Micro Group Insurance to enhance the basic protection of the economically disadvantaged or those with special needs in the event of death, disability and injury, thereby fulfilling its corporate social responsibility as an insurance provider. As of the end of 2017, the cumulative number of policy holders reached 41,375, providing 257 families with basic protection.

 

CUB ensures donations are used for those in need through Charity Trust

The scale of CUB's Charity Trust, at a total of NT$37.92 billion, was the largest in the industry as of the end of 2017. The bank has helped several founders and owners of companies listed on TWSE/TPEx and successful individuals in society to establish trusts for the purposes of charity, education, and children's welfare in hopes of enhancing the transparency of charitable donations and ensuring that the donated funds are truly used for those in need.

 

 

CUB Cambodia (CUBC) providing finance to local MFIs

The Cambodian people are generally suspicious of financial institutions. Locals are highly dependent on the MFIs in their area for loans. Statistics of the National Bank of Cambodia show that Cambodia had 64 MFIs at the end of 2016, an increase of 60% from 2014. Cambodia Microfinance Association (CMA) had an outstanding balance of US$228.5 billion at the end of 2016; these funds are distributed among as many as 1.78 million different accounts and circulated in the MFI system. CUBC provides finance to Cambodia's MFIs to promote the development of inclusive finance, and has approved loans to two MFIs by the end of 2017 with an outstanding balance of US$12.9 million.


CUB instills new energy into the development of social enterprises in Taiwan through preferential loans

CUB has supported the development of small and medium enterprises (SMEs) through preferential loans, as SMEs are the best force driving economic growth in Taiwan. As of the end of 2017, the balance of CUB's outstanding loans reached NT$151.9 billion. CUB will continue to work with the Small and Medium Enterprise Credit Guarantee Fund of Taiwan in 2018, and will focus on steadily increasing the number and amount of credit guarantees for SME financing projects.

 

Social enterprises are flourishing in Taiwan but they still frequently struggle when it comes to the raising of operating capital. CUB and Taipei City Government jointly implemented the industry's first Social Enterprise Preferential Loan Project to aid the development of social enterprises by providing small, low-interest loans to qualified enterprises, and hopes to furthermore bring together the public and private sectors in building a preferential loan platform for social enterprises. CUB approved loans to 4 social enterprises between April 2017, when the project was implemented, and the end of 2017. CUB has a profound understanding of what society needs and the directions in which it is developing, and will endeavor to instill new energy into the development of social enterprises in Taiwan. CUB hopes to create a better business and social environment by creating conditions favorable to the development of Taiwan's social enterprise ecosystem, thereby achieving mutual prosperity in society.

CUB led the industry by providing preferential loans to social enterprises, and has approved loans to 4 social enterprises up to the end of 2017.

 

Cathay Century provides farmers with basic protection from disaster losses through Mango Crop Insurance

Cathay Century formally began offering Mango Crop Insurance (linked to government disaster relief funds) in November 2016 in light of disasters caused by cold fronts, high temperatures, drought, and torrential rain in recent years due to global climate change. Cathay Century is the only insurance company to provide mango farmers with basic protection. Cathay Century began offering Mango Crop Insurance (regional harvest) in 2017 in hopes of providing farmers with even more protection options. Farmers can select suitable products based on their individual insurance requirements. Total insurance coverage reached NT$11.95 million at the end of 2017. 




Cathay Life provides protection for students around Taiwan through Student Group Insurance

Cathay Life began providing Student Group Insurance in academic year 2017 to offer proper care for students when emergencies occur and to relieve the economic burden on their families. The insurance provides basic death and medical benefits to nearly 3.08 million students around Taiwan. Cathay Life constructed an easy-tounderstand website to provide higher quality services for Student Group Insurance, allowing parents and the public to access and understand the contents of coverage and to enhance the quality of student group insurance service. Cathay Life also promotes anti-drug and environmental protection issues through the network of student group insurance to fulfill corporate social responsibility.

 

CUB has become the strongest supporter of professional baseball players through the CPBL Gambling Prevention Trust

CUB began working with the Taiwan Professional Baseball Development Association, Chinese Professional Baseball League (CPBL) and individual professional baseball teams in 2009 in offering a trust for professional baseball players. CUB was the first bank to set up such a trust, and currently has the largest trust with the most players. As of the end of 2017, 234 active players have joined CUB's CPBL Gambling Prevention Trust, and trust funds have exceeded NT$150 million, allowing both players and fans to truly enjoy the game.


We must respond to environmental and social issues in the most creative ways under the threat of extreme global risks, such as extreme weather events and cyberattacks. Technology has changed the face of finance, and the digital era has revolutionized our lifestyles. Financial institutions need to find ways to help customers during important times in their daily life, and also use data to create an enjoyable customer experience.

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Cathay FHC makes data-driven decisions and fully grasps FinTech development trends

 

Cathay FHC has innovated its business model through the strategy of "simultaneously developing multiple channels, moving steadily forward, integrating group resources, and continuing to improve the big data ecosystem," and continues to explore the unlimited possibilities of financial services. Besides providing customers with a convenient financial experience through comprehensive mobile services, Cathay FHC's Digital, Data & Technology Center (DDT) has extended its reach into all parts of Southeast Asia in the two years since it was established, and is actively increasing the accessibility of financial services. DDT horizontally integrates the group's digital developments. Cathay FHC aims to build meaningful connections with customers utilizing its information integration abilities and data analysis and development, thus becoming the best financial navigator for customers.
Cathay FHC is moreover committed to providing friendlier financial scenarios and services, and will continue to offer personalized financial services by engaging in customer digital activity analysis, digital procedure optimization, and digital channel development. It is our mission to actively learn what customers need and use data to drive our decisions.  

 

Cathay Robo improves the customer experience

Cathay FHC endeavors to provide customers with a variety of low cost financial solutions through the use of FinTech and has for this reason launched the smart investment platform, which encourages long-term investment and aims to help customers achieve their investment goals. The platform helps investors make disciplined, rational, and fixed investments rather than reacting to market fluctuations.
Cathay FHC integrated the group's resources worldwide, including the wealth of professional investment experience possessed by CUB's investment research team, product team, Cathay SITE and Conning Holdings Corporation and the artificial intelligence algorithms developed by Hong Kong startup Quantifeed, in creating a world class research team. Cathay FHC aims to use the most rigorous algorithms and its world class investment services to help all customers progress steadily toward achieving their financial management goals at each stage of life.

Cathay Robo brings to you a smarter way to manage your life.

Cathay Robo developed by Cathay FHC's professional team helps customers achieve sound financial management.

 

The most heartwarming digital financial service--CUBC Payroll 1.0 salary transfer

A study by the Asian Development Bank (ADB) pointed out that the demand for payments and transfers in 2017 in Cambodia was estimated at US$8.3 billion, but transactions through formal financial channels was only US$3.3 billion, a significant gap of US$5.4 billion. Payment service, the basic function related to all transactions, is the most important service linked to Cambodian’s daily lives. CUBC decided to work with major local payment providers and became the first bank in Cambodia to work with payment service providers in providing salary transfer services. CUBC is connected to the payrolls of factories, and helps factory workers collect their salaries from the offline payment agents CUBC works with as part of its cash flow services. Local workers can collect their salaries from any offline agent that provides the service, which is not only convenient, but also prevents the risk of being robbed when carrying large amounts of cash on payday. Factories can save the trouble of issuing large amounts of cash each month, and also avoid the risk of miscalculating salaries.
The number of CUBC's locations expanded from 16 branches and 80 ATMs to about 3,500 offline agents through the collaboration with major local payment providers. This collaboration has created an affordable connection between local people and financial institutions and achieved inclusive finance. In the future, CUBC will continue to work with payment service providers in providing local residents with the opportunity to access an even greater variety of financial services.

 

Cathay Life builds the industry’s leading brand in mobile services

Cathay Life actively predicts the needs of customers in different life stages. In 2017, Cathay Life won both the Best Insurer: Technology Award and the Asia Insurance Industry Awards (AIIA) - Best Digital Insurance Company, again bringing honor to our nation by being the only Taiwanese insurance company to win these awards. Cathay Life formed a financial insurance patent team and became the first insurance company in Taiwan to obtain a mobile insurance invention patent in 2014. Cathay Life obtained 43 insurance technology patents by the end of 2017, and led the industry by offering numerous new intelligent services, which allows our customers to have a comprehensive experience and best represents the value of innovation.
Cathay Life's 25,000 salespeople use their iPads to provide one-stop insurance services to policy holders on a mobile insurance platform. Wherever customers are, mobile service personnel are right there with them. This approach also contributes to energy conservation and carbon reduction while providing policy holders with quick, safe, and convenient services, reducing paper consumption by nearly 53.3 million sheets in 2017, roughly the height of 11 Taipei 101 buildings.

 

 

CUB makes digital finance an integral part of daily life

The updated MyBank and My MobiBank APP of CUB feature consistent experience, consistent content, and a mobile first approach, providing customers with a simple, streamlined interface and visual experience designed from a user’s perspective. MyBank had 3.17 million users as of the end of 2017. My MobiBank was upgraded and revamped in 2017. Credit card holders no longer need to receive an e-mail to change their password when they apply for a mobile banking account, making the application process even faster. As a result, the number of credit card holders that registered for mobile banking grew 133% YOY. The application process for nonpredesignated transfer accounts was also optimized, and can now be completed online with a mobile phone without needing to go to a service counter; the number of transfers grew 23% MOM as result. As of the end of 2017, My MobiBank had 1.1 million users.
CUB has truly transformed mobile payment into an integral part of people's daily lives, and is actively creating additional areas of application to establish a cashless society. CUB was among the first grove of banks to support Apple Pay in 2017, and led the industry by allowing credit card holders to use Apple Pay on My MobiBank, offering customers access to a brand new payment process. We led the industry in overall (mobile payment) performance, in which young online shoppers and air travelers are especially fond of using mobile payment. Over 30% of these users joined the top three international mobile payment providers. CUB integrated mobile payment technology with wearable devices in 2018 by supporting Garmin Pay and Fitbit Pay, thereby offering cardholders a new mobile payment experience on devices other than their mobile phones. Furthermore, CUB is working exclusively with 7-ELEVEN and also supports FamilyMart's Fami Pay not only for payment services butalso through the provision of credit card invoice carrier services. When a CUB credit card holder uses the credit card to make a purchase, the invoice will automatically be stored in the credit card invoice carrier, and a hard copy will not be printed, providing greater convenience and contributing to environmental protection at the same time.

CUB was among the first grove of banks to support Apple Pay.

 

Cathay APP services allow you to complete all your errands using your mobile phone

My Rewards

My Rewards APP integrates offline and mobile applications with innovative technologies, and offers a variety of application scenarios and service functions in response to the demand for newer, faster developments in digitization. Cathay FHC utilizes agile development to accelerate its development speed and fulfill requirements for customer experience. Product releases are completed in the most efficient manner from prototype design and development, usability testing, and new version adjustments and retesting. As of the end of 2017, the number of members had exceeded one million. Cathay FHC also set a precedent in the finance industry by using agile development to accelerate the APP's transformation into a charity platform. The new reward point donation function under My Rewards allows users to redeem products and supplies offered by excellent social enterprises with their reward points at a minimum threshold of 20 points, and then donate the products to social welfare organizations in need. This way users' reward points can benefit social enterprises and social welfare organizations at the same time. In less than a week after the service was launched, users had ccumulated over 400,000 reward points and donated 40% of the 1-million-donated-point target. Cathay FHC's My Rewards APP achieves mutual prosperity in society through innovative digital technology, enabling customers to show their care and concern by using reward points to answer the purposes of social enterprises and reflect the thoughtfulness of participating enterprises. My Rewards is therefore truly a mobile platform on which love and care know no boundaries.

The reward point donation function of My Rewards connects the boundless love of people who care.

 

KOKO

CUB created a new brand KOKO to meet the needs of the younger generations, and to provide customers with the most convenient financial services. The KOKO APP frees customers from the constraints of time and place through simple application procedures. As of the end of 2017, over 29,000 users had opened accounts on the KOKO APP. CUB furthermore launched the KOKO COMBO icash co-branded card in 2017, integrating the KOKO account debit card, credit card, and icash into one single card. Application for the card is completely carried out online through the innovative one-stop financial service, allowing the younger generation to take the first step in financial management with ease and convenience.

 

Smart Go App

Cathay Century launched the car insurance Smart Go APP, a mobile marketing management tool, to identify trends in mobile services. The APP allows salespeople to manage car insurance affairs anytime and anywhere using an iPad. The APP received a utility model patent from the Intellectual Property Office, and can be used for calculations and purchasing insurance online. It can also provide policy holders with quotations and payment information in real-time using Line. The Smart Go APP was used for nearly 90% of car insurance quotations in 2017, significantly reducing the time previously needed to generate quotations.

 

Open Account APP

Cathay Securities' Dunnan Branch revolutionized the model of traditional securities brokerage through adoption of a new digital business model that removes the constraints of personnel, time, and place. Cathay Securities obtained 4 utility model patents in less than a year, the fastest in the industry, and applied the patents in the latest version of the Open Account APP and the newly upgraded stock selection APP. The Open Account APP is the first one in the industry to not require a digital citizen certificate or video authentication process, and uses Authentication and Identification Service Center technology to establish an integrated and secure online identification mechanism. The process of opening a securities account and bank account can be completed through 3 simple steps using the APP. Over 9,000 new accounts were opened within 5 months since the launch of the APP. In other words, the number of accounts opened by one digital salesperson is 144 times that of traditional salespeople.

Cathay Securities' Dunnan Branch uses an all new digital business model to remove constraints of personnel, time, and place and to maximize performance.

 

My MobiFund APP

Cathay SITE's My MobiFund APP is the first mobile APP provided by a securities investment trust to feature fingerprint recognition and online password unlocking functions. Cathay SITE introduced and continued to optimize push notifications of fund performance in 2016, and added KYC and additional unit payment mechanisms to provide customers with even more convenient service functions. The number of customers that used mobile devices for trading accounted for 25% of all customers in 2017.


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