FWD Life Insurance’s (FWD Philippines) latest study, “Decoding the Pinoy Gamer,” revealed a striking disparity showing that while 85% of Filipino gamers recognize the importance of insurance, only 30% have secured financial protection.
According to FWD Philippines, the country, with its vibrant gaming culture with over 43 million gamers, has seen a 14.3% growth in this sector between 2020 and 2023. Despite this boom, research into the effects of gaming on health and finances remains sparse.
The study aims to provide a comprehensive analysis of the behaviors and financial habits within the gaming and esports communities.
“Supporting the gaming community, from developers, players, and fans, is part of our efforts in contributing to nation-building,” said Roche Vandenberghe, chief marketing and digital business officer, FWD Philippines. “This initiative aligns with the Philippine Creative Industries Development Act and reflects FWD’s push for financial inclusion through accessible and affordable insurance products, readily available online.”
The One for gamers
Gamers, mostly from Gen Z and millennial demographics, are categorized into Fans, Casuals, Enthusiasts, Influencers, and Pros. The majority, comprising Fans (34%) and Casuals (30%), engage in less frequent gameplay but express strong financial aspirations, such as owning a home (73%) or starting a business (70%).
Health issues among gamers, such as eye strain (41%) and insomnia (17%), are significant concerns, alongside mental health challenges linked to gaming pressures.
While many gamers save money, the uptake of life insurance is notably low. About 40% of those without insurance cite a lack of understanding of the products as a barrier. To address this, FWD Philippines introduced a tailored insurance plan, “The One for gamers,” and partnered with the Mobile Legends: Bang Bang Professional League to cover esports athletes, resulting in increased gamer policyholders.