Cathay is committed to providing our customers with an easy-to-navigate and personalized digital finance experience. By offering practical and convenient financial services tools, Cathay FHC helps customers stay in control of their finances and wealth management.

Cathay as a Service (CaaS) Ecosystem Service Platform

Using "Cathay as a Service" (CaaS) as the core concept, we established the "CaaS Ecosystem Service Platform" as a portal for cross-industry collaboration that provides integrated one-stop resources. The platform provides digital services for all corporate partners that seek collaboration with Cathay. In 2022, the platform launched a new "exclusive offer for Cathay customers" partnership model, extending the partnership invitation to corporate partners with a combined Cathay customer base of more than 14 million. With the expanded ecosystem, the CaaS platform has gathered over 200 digital financial services, connected with nearly 100 corporate partners, and facilitated more than 120 collaborations.

CUBE App - One-Stop On-Demand Digital Finance Platform

CUB transformed its customer experience offering and brand image in 2022 by launching the brand-new CUBE App. Everyday financial services such as money transfers, cardless withdrawals, credit card services, loan applications, investments and insurance can all be performed through the app, making it a true one-stop, on-demand digital financial platform. Furthermore, Cathay's resources and business were integrated into the app. In addition to Cathay Securities, which launched online securities investment account registration through the app, allowing customers to invest in Taiwanese and U.S. stocks through dollar-cost averaging, Cathay Life also launched several cross-industry financial products. The CUBE App provides digital empowerment to Cathay's customers and gracefully balances security, experience and innovation, making the customer experience more autonomous, flexible, convenient and personalized. For example, customers can switch between different types of rewards from the Cathay CUBE card via the CUBE App. This innovative approach gives customers control by allowing them to make the choice that best suits their needs, making it mutually beneficial for CUB, corporate partners and our customers. Furthermore, the app was the first in the industry to integrate the FIDO to provide "biometrics authentication" for customer login to provide a convenient and secure financial services environment. Furthermore, the CUBE App provides a "flex loan" option that facilitates speedy online loan applications with just a single click, and with automatic financing available in as little as five minutes. This offering allows for pay-as-you-go functionality, with interest accruing solely based on the on-demand usage. Such attributes enable the tailoring of loan usage, representing a departure from traditional lending practices. Notably, CUB launched an "equal principal payment" feature by the end of 2022, aimed at providing highly personalized loan products to assist customers at different stages of life, whether it be a first-time small loan or the pursuit of family endeavors. These loan options are accessible via the CUBE app. As of the close of 2022, the CUBE APP has attracted more than 6.3 million digital users, generating an average of nearly 30 million visits per month. Our users benefit from the financial services and online banking capabilities offered through the CUBE APP, with transaction frequency increasing sixfold over the past five years.

Cathay Vision Experience (CVX)

During the Level 3 epidemic alert in 2021, Cathay Life was the first insurance company in Taiwan approved by the supervisory bureau to launch a remote insurance enrollment platform - Cathay Vision Experience (CVX). This platform offers an all-in-one online insurance service that encompasses enrollment, policy alterations, premium services, and claims. The platform aims to provide uninterrupted services with an enhanced digital experience for our valued customers. The platform processed 87,000 policies as of the close of 2022.

Self-Assembled Insurance

Targeting the insurance needs of the digital natives, Cathay Life broke away from the traditional framework to launch " Self-Assembled Insurance," a digital platform for personal insurance. Cathay Life is the first to introduce a "component-based insurance product" that can be mixed and matched under a single policy. The product is designed to be easy to understand and with a relatively lower premium cost, enabling policyholders to tailor their insurance coverage to suit their individual needs and budgets. The website attracted approximately 490,000 visitors in 2022, processing nearly 33,000 policies, with younger customers between 20-39 accounting for 63%. This performance marks a substantial increase of 44% when compared to traditional sales channels.

groupins+

In response to businesses' group health insurance needs, Cathay Life has leveraged insurance technology to optimize its services. The introduction of the digital group insurance platform "groupins+" offers all-in-one group insurance digital services. By utilizing this platform, businesses can efficiently select and customize the appropriate policy coverage to suit their specific needs and receive a prompt premium estimate, facilitating the creation of a tailored insurance coverage solution with ease. The approach substantially increases group insurance enrollment efficiency by providing businesses with comprehensive digital services. As of the close of 2022, groupins+ attracted 330,000 views, becoming the best group insurance enrollment channel among businesses seeking a transparent and zero-contact remote experience.

iSmart Variable Life Insurance

With a scientific approach, Cathay's robo investment services leverage big data analysis to create a diversified portfolio. Cathay assesses the portfolio using a 24/7 smart monitoring system, reducing the client's need to monitor the market while offering them a long-term and sustainable asset allocation. In addition to a diversified portfolio containing stocks and bond funds created by Cathay robo investment services, CUB and Cathay Life also jointly launched a new portfolio - "Cathay Life iSmart Variable Life Insurance" at the end of 2022. By combining robo investment services and life insurance, our customers can reap the benefits of smart investments and life insurance coverage, offering additional security to our customers and their families, making it an excellent product for the sandwich generation and pre-retirees. Additionally, Cathay employs a recalibration mechanism that generates portfolio rebalance recommendations to prevent emotional and irrational investment decisions during volatile market conditions. Our investment recommendations are transparent, and we give our clients the final say on investment decisions. As a result, Cathay's robo investment services witnessed a 20% increase in assets under management (AUM) compared to 2021.

Sure n’ Safe

Cathay Life and CUB have jointly introduced an innovative business model, wherein customers can seamlessly open a savings account and enroll in a "Sure n’ Safe" injury insurance in a single transaction. This innovative approach allows all or parts of the interest generated from the savings account to be allocated as the premium for an accident or injury policy, thus revolutionizing digital insurance services. This model eliminates the limitations posed by customers' insurance awareness or abilities to make policy decisions, aligning instead with the savings preferences of digital natives to establish a protection net for them. Furthermore, the industry-first model was patented in Taiwan in 2022. Since its inception, the "Interest=Insurance" service has accumulated 3.7 million views as of the end of 2022.

Cathay Securities App - All-in-One Digital Investment Service

Cathay Securities has been proactively consolidating Cathay's resources. Following the integration of functions and services in 2022, Cathay Securities has commenced offering all-in-one digital investment services. By leveraging cutting-edge digital technology, we are able to streamline the investment process, thereby enhancing investment efficiency for investors. Cathay Securities led industry peers to become the first to attract more than 1 million digital customers. The service is widely recognized in the contactless era by our customers, as evidenced by the regular investment contribution amount exceeding 10 billion, with 90% of investment purchases being made digitally.


Smart Claim and SmartBiz

Empowered by digital technology, Cathay Century created a digital technology tool - "Smart Claim" to manage risks associated with car insurance fraud. Cathay Century also created "SmartBiz" to optimize the business insurance sales process to provide a faster and more precise enrollment experience. The two patented innovative digital technology services use digital data to promote the expansion of property insurance sales. "Smart Claim" is a digital tool used to manage car insurance fraud risks. Its "digital management" function helps specialists efficiently handle the claim process, while the "high-risk notification" function acts as the first layer of security against abnormal claims to prevent potential fraud by insurance scammers. Smart Claim uses an "automation algorithm" model to conduct early system detection and proactively warn against high-risk claims, making car insurance claims management more intelligent and stringent. At the same time, "SmartBiz" uses web crawling to integrate external public information and underwriting rules to build Cathay's proprietary database. By leveraging the power of address latitude/longitude transformation and distance calculation, SmartBiz can provide accurate recommendations and ratings. With this system, agents can quickly generate customized policies and quotes by simply entering a company's basic information and operational status. SmartBiz's approach streamlines the commercial insurance sales process by making the enrollment process more accurate and efficient.


Cloud Electronic Health Record Platform - iFHIR Center

Cathay FHC became the industry leader to integrate cross-industry resources to break the barrier between the medical and fintech industries. Cathay's Digital, Data & Technology Center (DDT) created a new generation cloud electronic health record platform - iFHIR Center. The platform passed the third annual MI-TW FHIR test conducted by the Medical Image Standards Association of Taiwan (MISAT). The platform uses Fast Healthcare Interoperability Resources (FHIR) as the standard for electronic health record exchange and adopts microservice architecture. It is equipped with high flexibility and scalability, allowing medical institutions to easily convert unstructured electronic medical records into international standard formats through APIs (Application Programming Interface) without manipulating the core system or writing a lot of programs. The platform facilitates the exchange of healthcare data. Cathay also hopes to expand to a wider range of applications, including future collaborations with insurance companies and health management centers to create a more comprehensive financial medical ecosystem.

Cathay FHC Annual Conference on Technology

To actively promote digital transformation and create a financial services ecosystem, Cathay FHC has held the Cathay FHC Annual Conference on Technology for three consecutive years. It is the first technology conference held by a financial industry player, attracting more than a thousand participants every year to jointly explore the new trends and technology applications of fintech. The 2022 Cathay FHC Annual Conference on Technology based its theme on decentralized finance (DeFi). The conference brought together 26 technology experts from 18 leading companies, including AWS, Google Cloud, IBM and Visa. The conference attracted 2,300 attendees both onsite and online, with experts offering insights on how to transform the financial market structure and redefine user interactions. The conference defined the next wave of industry transformation, covering topics ranging from business models to technology and application implementation. The 2022 conference also included a dedicated "Women in Fintech" conference designed for women in the technology workforce. The all-day online conference focused on four themes: women in technology, digital, data, and technology. The conference brought together 25 leading female experts from technology, finance, start-ups, industry, government, and academia to share the latest trends in technological development and innovation. The conference attracted more than one thousand attendees.

"Alpha" Chatbot

"Alpha" chatbot, Cathay's group-wide intelligent customer service, is the first customer service of its kind in the financial industry. Through the incorporation of cutting-edge NLU (natural language understanding) technology, the chatbot accurately understands the intent behind customers' queries. In addition, Alpha was integrated with voice recognition technology and subsequently upgraded to a three-dimensional intent framework. When the customer's intent is unclear, the framework guides customers with rhetorical questions, making it easier and more efficient to process the customers' queries. Alpha serves over 1.5 million monthly online customer service entries across all Cathay channels, maintaining a high average satisfaction rating of 4.8 out of 5. In the future, Alpha will be integrated into various business areas and serve as a gateway to digital services. Cathay plans to expand its services to digital customers and transform Alpha's digital services into digital sales results. The goal is to provide customers with a wider range of services that address all aspects of their digital needs. This approach will enable Alpha to become a stronger force in digital financial services, moving from intelligent customer service to intelligent assistance. The following services were launched in 2022:

Cross-channel integration CUB and Cathay Securities created a securities default notification and settlement protocol; Cathay Securities and Cathay SITE launched the innovative online ETF IPO purchase service.
CUB  Application to merge credit cards into CUBE cards, assistance to unblock card when a lost credit card is picked up by a merchant, verification of credit card authorization details, conversion of Costco/Cathay co-branded credit cards into CUBE cards.
Cathay Life Policy coverage inquiry, policy change, travel insurance application, insurance policy loan, etc.
 Cathay Century First to introduce roadside assistance request through intelligent customer service. The service also allows customers to check the assistance status in real-time.


Innovation as Cathay's Corporate DNA

Cathay FHC celebrated its 60th anniversary in 2022, marking a time of acceleration in the pace of digital transformation at Cathay. Crucial to this success is the organization's workforce of over 1,100 digital data-related talents spread across Cathay Life, CUB, and Cathay Century. Serving as the driving force behind Cathay's digital transformation momentum, these talents have played a pivotal role in fostering an innovation-focused culture integral to Cathay's corporate DNA. Furthermore, Cathay's subsidiaries continue to leverage the "situation room" as a digital transformation command center. Meanwhile, Cathay's job rotation system helps vitalize the organization, facilitating smart, diverse, and agile decision-making embedded into our everyday work. This emphasis on innovation not only elevates the quality of customer experience but also enhances Cathay's internal operational efficiency.

Kaohsiung AWS Cathay Financial Holdings International Financial Innovation Center (KACIFIC)

In 2022, Cathay launched a project to establish the first financial information development center in Kaohsiung's Asia New Bay Area. The goal is to leverage Amazon Web Services (AWS) to cultivate 100 cloud services professionals over the next three years. By promoting innovation in fintech, Cathay is broadening its pool of digital talents. Previously, a background in finance or certification in related fields was a prerequisite for joining the financial industry. However, in recent years, Cathay has diversified its recruitment efforts to include professionals in technology, such as cloud, data, visual design, and UI/UX. This approach has enabled Cathay to strengthen its fintech development capabilities with a more diverse team.

 

Vietnam Digital Insurance Business Competition - Eyeing the New Southbound Market

Cathay FHC has focused its transformative innovation efforts on the priority countries outlined in the New Southbound Policy in recent years. To facilitate business development in Southeast Asia, Cathay FHC and Cathay Life partnered with National Chengchi University to launch the "2022 Creative Bizplan Competition: The Vietnam Showdown." This competition offered more than NT$500,000 in combined prizes to attract young talent and invite them to propose digital insurance business models tailored to the Vietnamese market. Additionally, to further strengthen Cathay's talent pool in accordance with the New Southbound Policy, all participants were invited to interview for international finance-related roles within the company.


Public Welfare Strategy 4 | Environmental Considerations

Plant Saplings of Hope and Create Shades for Future Generations

Countries have taken climate change and ecological conservation issues seriously in recent years. Cathay Charity Foundation upholds the Group's spirit in practices for corporate and social sustainability, and has dedicated long-term efforts into environmental care activities for greening communities. The foundation also responded to the government policy of energy conservation and carbon reduction, promoting the Group’s mobile insurance service process during activities. Four tree planting events held in Shulin, Zhushan, Jinshan, and Keelung planted approximately 9,300 trees in 2019. The Cathay volunteers cleared 620 kg of Minute-a-Mile weed in Toucheng Township, Yilan County, giving Taiwan’s native plants a suitable environment to grow in. These green actions protect our beautiful homeland.

Carbon Reduction Summit Raises Students' Environmental Protection Awareness

Environmental education is an important part of the Ministry of Education's 12-year basic education. It is also a key issue in Cathay Life's Sustainable Campus Project, which worked with social enterprises in the promotion of carbon reduction in life on campus. Students learn how to put themselves in the shoes of others and take responsibility for their decisions by playing the role of leader in game scenarios, which give them a new perspective of carbon reduction issues to better understand the importance of environmental protection. The event was promoted in 19 schools and participants included 725 teachers and students and 93 salespeople.

Promote Green and Carbon Reduction Businesses in Response to World Earth Day

CUB has sponsored National Geographic's World Earth Day Road Run for two consecutive years, and over 20,000 people participated in the event this year to contribute to environmental protection. CUB is the exclusive sponsor of the program "Hostile Planet" in hopes that citizens will take climate change more seriously. The program shows how wild animals face severe challenges and dilemmas for survival, and reached 139,912 people through Facebook. The 2020 project continued to sponsor the event, and integrated the promotion of CUB's green and carbon reduction businesses, inviting the public to exert influence through action.

CUB Chairman leads colleagues in the World Earth Day Road Run.


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