Disrupting the insurance market in Singapore
SingLife, a new Life Insurer in Singapore, are disrupting the insurance industry in Southeast Asia with their focus on digital innovation. Their mission is to unlock the potential of money for end investors and do so by leveraging smart technologies to make insurance fully digital, affordable and convenient.
Foundations for the future
First New Life Insurance Licence for 40+ Years
Singlife launched their digital first InsureTech business on FNZ technology back in 2018, the first life insurance license granted by the Monetary Authority of Singapore in 40+ years.
One of the core reasons for being granted a license was the ability, via FNZ’s solutions, to offer a fully digitised life insurance process for Singaporeans. This would become a market first in the region.
FNZ initially delivered a fully digitised wealth and protection platform, supporting Term Life products. The proposition was later enhanced by adding both Endowment and Investment-Linked Protection products.
A Digital Roadmap for the Future
Singlife are now expanding their digital products and services across Asia and will be launching several InsureTech innovations on FNZ technology as part of this.
A new range of products and services will be made available via their mobile app under the Manage, Protect, and Grow propositions.
Manage is an E-Wallet proposition where customers receive high interest on cash savings while also having access to spending via a Singlife Visa debit card. Protect is their range of digitally issued term life and other products. And Grow is a unique Investment-Linked product enabling customers to invest for the long term while having additional insurance benefits attached.
- AU$3bn in FUM
- 36000 members across 6 funds
- Regional market first