Manulife champions longevity in Asia

Source: Manulife. From left: Harshal Shah, Chief Marketing & Experience Design Officer, Manulife Asia; Koh Hui-Jian, CEO, Manulife Investments; Steve Finch, President and CEO, Manulife Asia; Benoit Meslet, President and CEO, Manulife Singapore; and Mark Czajkowski, CMO, Manulife Singapore.

Manulife has enhanced ManulifeMOVE, Manulife’s flagship lifestyle programme, launching it at the inaugural Longevity Symposium in Asia. Originally introduced to promote physical activity, the platform now supports holistic wellbeing across six key pillars: healthcare, home and nursing care, fitness and wellness, lifestyle privileges, legacy planning services and community engagement.

“Insurance is no longer just about protecting people financially after something happens. It’s about helping them stay prepared for life’s changes. With ManulifeMOVE, we’re giving customers the power to take charge of their health and financial choices, so they can make confident decisions every day,” said Harshal Shah, Chief Marketing & Experience Design Officer, Manulife Asia.

Key programme enhancements include: 

• A tiered membership structure (Essential, Ascend, Prestige, Signature) offering access to differentiated benefits and partner privileges. 

• An expanded suite of services covering preventive health services, medical and assistive care, cancer care support, health and wellbeing coaching, fitness and wellness experiences. 

• Community engagement, such as a dedicated platform to foster a vibrant community with exclusive experiences, access to new offerings, and health content. 

ManulifeMOVE Partners*, including AMILI, ClassPass Singapore, Chi Longevity, Doctor Anywhere, Fullerton Health, Guardant Health AMEA, Hin Tat Augustine & Partners, Homage, Kin Teck Tong, Padang Trust, Parkway Cancer Centre, Parkway Shenton, Naluri, Q & M Dental Group, SportsMed, Ten Lifestyle Group and others, offer solutions that help people navigate everyday health and life management, supporting them through milestones from entering the workforce to becoming parents, managing chronic illness, or planning their legacy. 

“As a purpose-driven bank, we’re committed to using our business as a force for good – creating long-term value for our customers, community, and the nation. With Singapore transitioning into a super- aged society, our focus is on closing the gap between lifespans and ‘living spans’ by supporting financial, physical, mental, and social wellbeing at every stage of life," said Karen Ngui, Head, DBS Foundation and DBS Group Strategic Marketing and Communications.

"Ageing presents challenges, but also opportunities – the onus is on us to act early, and act together. At the DBS Foundation, we’re glad to join hands with likeminded partners like Manulife to build a future where everyone, regardless of age or circumstance, can live and age with dignity, purpose, and joy.”

“Cancer is one of the leading causes of death in Singapore, underscoring the urgent need for continuous innovation in how we detect, monitor, and treat it. At Guardant Health, we believe molecular data is essential for precision oncology to guide each patient’s journey with insights that matter," said Simranjit Singh, CEO, Guardant Health AMEA.

"Through our partnership with Manulife Singapore and the ManulifeMOVE programme, we are expanding access to cutting- edge liquid biopsy technology. With just a simple blood draw, we can unlock vital information to help personalise treatment decisions for patients with advanced solid tumours.”

“Good gut, good health. At AMILI, we believe gut health is foundational to long-term well-being. The microbiome in our gut plays a vital role in how we age, affecting immunity, metabolism, and chronic disease risk. By harnessing microbiome insights, we can deliver truly personalised preventive health strategies that go far beyond generic advice," said Jeremy Lim, CEO & Co- founder, AMILI.

"Our collaboration with Manulife Singapore is an important step in making science-backed, localised solutions for longevity more accessible across Asia. Through the ManulifeMOVE programme, we’re empowering individuals to take charge of their health in ways that are tailored and culturally relevant.”

The Longevity Symposium in Asia was convened to tackle one of the region’s most pressing challenges: how to live not just longer, but better.

“As an insurer, our role goes far beyond paying claims or managing risks. We have a responsibility to improve lives – not just by protecting our customers, but by empowering them to make better decisions for their health and financial future,” said Benoit Meslet, President and CEO, Manulife Singapore.

“Our latest Asia Care survey shows that only 6% of respondents wished for a longer lifespan, the vast majority prioritised staying physically, mentally and socially active, achieving financial independence and ageing gracefully. 

"Through initiatives like this symposium, we’re raising awareness across every dimension of longevity, from preventive health and financial planning to mental wellbeing and social connection, we’re helping our customers plan ahead and live with greater clarity, resilience and peace of mind.”

According to Manulife, one in four people in Asia will be over the age of 60 by 2050**. This demographic shift is driven by longer life expectancies and declining fertility rates. As countries in Asia adapt to these changes, people may no longer follow the traditional 'school, work, retirement' paradigm***. Instead, they transition more frequently between learning, working, caring, and recreation****. 

In addition, Manulife's Asia Care Survey showed that physical wellbeing is central to both financial and mental wellbeing for people across Asia, and that rising healthcare costs are a major concern, fuelling anxiety about insufficient savings.  

"Extending lifespan in our ecosystem is no longer our key focus. Instead, optimising healthspan is becoming our key imperative. Healthy ageing requires early intervention, data-driven behavioural change and integrated support across healthcare, technology and finance - across all stages of life," said Professor Dean Ho, Provost’s Chair Professor, Director, The N.1 Institute for Health, Director, The Institute for Digital Medicine, and Head, Department of Biomedical Engineering, National University of Singapore.

"The Manulife Singapore Longevity Symposium is an important catalyst for bringing scientific research into everyday insights and actions. By bridging science and education, we can address aging preparedness, helping people thrive across a longer life - physically, mentally and financially.”

“Healthy longevity isn’t just about adding years, it’s about adding good years that is not just extending your lifespan but your healthspan. That means having the energy, cognitive ability and independence to keep enjoying life as we age. To do that, we must take a proactive approach to health and start long before retirement age," said Professor Andrea B. Maier Oon Chiew Seng, Professor of Medicine at National University of Singapore, and Co-Founder of Chi- Longevity.

"In healthy longevity medicine, we look beyond short-term outcomes and focus on how individuals want to feel 10 or 20 years from now, and how we can help them get there. This future-oriented approach is why partnerships with organisations such as Manulife are essential. Through the ManulifeMOVE programme, we are enabling more individuals to proactively manage their health and better prepare for the realities of ageing."

Manulife and UpLink, the World Economic Forum’s early-stage innovation initiative, and the Forum’s Centre for Financial and Monetary Systems additionally announced 10 winners of the Innovating for Asia’s Demographic Future Challenge, launched earlier this year.

The challenge sought breakthrough solutions to support multigenerational financial resilience, equitable healthy ageing, and lifelong fulfilment across Asia’s rapidly ageing societies. The winning ventures — ranging from digital tools that enhance home safety and caregiving for older adults, to AI-powered platforms that modernise primary healthcare delivery, wearable rehabilitation solutions for post-surgery recovery, and lifelong learning and reintegration support for migrant workers — were selected for their potential to drive meaningful impact across Asia.

The winners will join UpLink's Innovation Ecosystem with access to exclusive networking, visibility, and partnership opportunities to help scale their solutions. Additionally, three of the winning innovators will share a prize pool of CAD$200,000.

“Longevity is reshaping how people across Asia think about their future. Our Asia Care Survey shows a growing focus on quality of life, independence, and financial security – underscoring that it’s not just about adding years, but enriching them,” said Steve Finch, President and CEO, Manulife Asia.

“We see a clear opportunity to help close the gap between aspiration and action. Through platforms like the Longevity Symposium and the UpLink challenge, we’re working with partners to deliver practical, preventive solutions that help people live well, for longer.” 

"Early-stage innovation is vital to turning the challenges that come with Asia's demographic shifts into meaningful opportunities for communities across the region," said John Dutton, Head of UpLink, World Economic Forum. 

"Through the Global Longevity Innovation Initiative, we are proud to partner with Manulife and the Forum's Centre for Financial and Monetary Systems to build an innovation ecosystem that promotes healthier, more financially resilient and fulfilled lives for all generations."

The event, held in Singapore, marks a milestone in Manulife’s commitment to advance Asia’s longevity movement. This builds on Manulife’s global commitment to longevity, following two successful longevity symposiums in in the US led by John Hancock.

*Access to services offered by ManulifeMOVE partners may vary by membership tier and customer eligibility.

**ADB: Adapting to Aging Asia and the Pacific

***Stanford Center on Longevity 

****  Andrew J. Scott and Lynda Gratton, The New Long Life: A Framework for Flourishing in a Changing World 

Cornerstone unveils cyber insurance for Singapore SMBs with QBE and ESET

Cornerstone, a Singapore-based independent financial advisory, has launched CyberFender, a cyber insurance solution tailored to small-to-medium businesses (SMBs) in Singapore. 

CyberFender offers insurance coverage that will help to safeguard critical business assets against malicious actors in areas like data security, business interruption, and cyber extortion. It also covers related incident response and recovery costs, providing both financial and operational protection against cyber incidents—empowering businesses to better build and maintain customer trust, Cornerstone said. 

Underwritten by QBE, a global insurer with a presence in Singapore for more than 130 years, CyberFender policyholders will also receive 24x7 cybersecurity protection through ESET Small Business Security, which is a set-and-protect solution against online threats, frauds, data theft and unwanted tracking. 

Cornerstone can guide and support SMEs throughout the process, serving as trusted advisors who simplify, facilitate, and ensure a seamless download and understanding of key information. 

SMBs make up 99% of all enterprises in Singapore and are responsible for nearly half of the nation’s GDP. As they embrace digital transformation, robust cybersecurity measures are essential to maintain customer trust and ensure a resilient business environment. Cyber insurance has emerged as a vital safety net, helping SMBs to mitigate the financial risks of cyber incidents while reinforcing confidence in data security.

ESET’s APAC SMB Cybersecurity Report 2024 found that 73% of Asia Pacific (APAC) SMBs experienced cybersecurity incidents last year—with one out of four incidents related to ransomware, while Cyber Security Agency of Singapore (CSA) findings from 2024 estimated that eight in 10 organisations in Singapore encountered a cybersecurity incident in a year, with half encountering it several times a year. 

QBE Singapore’s small- and medium-sized enterprise (SME) survey further showed that the percentage of businesses that do not have any processes or protection against cyber risks rose to 19% in 2024, from 9% in 2023.

“At Cornerstone, we recognise that recovery from cyberattacks can be costly and challenging for SMBs. This is why we partnered with QBE and ESET to deliver robust, easy-to-use cyberdefence solutions to our policyholders through CyberFender,” said Leonard Tan, MD, Cornerstone.

“No industry is insulated from cyberthreats, regardless of company size. As technology evolves, it’s creating both new opportunities and new risks, further expanding the digital attack surface. Together with Cornerstone and ESET, we are delighted to be a part of the CyberFender offering, which is well suited to address SMBs’ needs when it comes to the current cyber risk landscape,” said Ronak Shah, CEO, QBE Singapore.

“ESET is committed to empowering SMBs with the right tools to proactively protect their businesses from cyber threats, including ransomware. By adopting a prevention-first approach, business owners can effectively safeguard their organisations from the risk of cyberattacks and disruption. We are honoured that Cornerstone and QBE have chosen to work with ESET; it is a testament to our commitment to ensure businesses of all sizes are safeguarded in an ever-evolving threat landscape,” said Parvinder Walia, ESET President for Asia Pacific and Japan.

CyberFender is available in Singapore through Cornerstone's financial advisors.

Singtel, Great Eastern introduce home and contents insurance

Singtel and Great Eastern have launched Singtel Home Protect Flexi, a flexible home and contents insurance plan. The plan is tied to the customer’s Singtel broadband subscription, and will be automatically updated with a new address if the customer moves. This means homeowners will be able to enjoy seamless home protection without having to worry about a lapse in coverage or having to remember to update their address. The no-contract plan also gives customers the ability to cancel anytime.

Gilbert Chuah, Head of Financial and Lifestyle Services, Singtel, said: “We continually harness our wealth of insights as Singapore’s largest broadband provider to bring more convenience and flexibility to our customers. Our new Home Protect Flexi, for instance, eliminates the hassle of address updates for our home protection insurance customers when they relocate, providing seamless home protection that adapts to their evolving needs. We look forward to co-creating more value-added offerings with partners such as Great Eastern to enrich our customers’ lives.”

Jimmy Tong, MD, General and Group Insurance, Great Eastern, said: “At Great Eastern, we constantly seek ways to make insurance more seamless and convenient. Our new plan in collaboration with Singtel provides ease of portability and uninterrupted coverage for homeowners in the event they re-locate, or allows for termination at any time with no lock in period. By eliminating these traditional constraints, we are able to provide greater flexibility and value for our customers.”

Singtel Home Protect Flexi is an enhancement of Singtel’s home insurance offering, Singtel Home Protect, which is currently available with a one or two-year commitment. The new Singtel Home Protect Flexi, priced at S$8 a month, continues to provide homeowners with the same comprehensive coverage for various types of residential housing, of up to S$80,000 for household content and renovations, and up to S$500,000 for personal liability.

As a launch promotion, all first-time customers will enjoy the first two months free from now until 31 December 2023. To qualify for the plan, customers need to be an existing Singtel broadband subscriber. The plan is available now at all Singtel shops, Singtel’s website or via the customer care hotline, 1688.

Singtel Bill Protect will waive bills for customers who are retrenched

Singtel and Etiqa Insurance Singapore have launched Singtel Bill Protect, a complimentary insurance plan to cushion Singaporeans from adverse economic situations and stay connected even if they face financial difficulty. Retrenchments in Singapore have risen for three quarters in a row, according to the latest Ministry of Manpower labour market estimates*.

Against the backdrop of rising economic and job uncertainty, the Bill Protect plan helps Singtel customers who face financial hardship due to a loss of employment with waivers on their upcoming Singtel mobile and fixed broadband bills.

Anna Yip, CEO, Consumer Singapore, Singtel, said: “Staying connected has become an essential part of modern lifestyle. By offering our new Singtel Bill Protect plan to our postpaid customers for free, we aim to help ease the strain of life’s uncertainties by ensuring that our customers impacted by adverse conditions like retrenchment can stay connected with their communities using Singtel's superior network without worrying about their bills. That frees up their mind to focus on other more pressing priorities.”

Raymond Ong, CEO, Etiqa Insurance Singapore, said: “We are excited by the Singtel-Etiqa telcoassurance partnership, which will see the launch of initiatives and plans to achieve our vision of closing the protection gap that exists in Singapore, and help customers achieve peace of mind during difficult moments in their lives. The Singtel Bill Protect is a positive step towards achieving this vision by providing coverage for retrenchment and accidental death to support affected customers and their families.”

Eligible insured persons** who become retrenched can get their Singtel bills mobile and fixed broadband waived for up to six months, up to a maximum of S$600. In addition to retrenchment, the plan also covers accidental death***.

Singtel Bill Protect is part of a broader series of Singtel Protect telcoassurance offerings that aim to help its customers narrow potential gaps in their insurance coverage to address life’s other unexpected adversities with Etiqa Insurance Singapore’s offerings. These solutions include Singtel Life Protect for protection against death and permanent disability; Singtel Health Protect, which covers unexpected illnesses; and Singtel Wealth Protect, which helps customers invest and accumulate wealth.

Etiqa Insurance Singapore will leverage their digital expertise and sales force to deliver these products to Singtel customers exclusively through Singtel's digital and physical retail channels. Other solutions dedicated to enhancing the protection needs of Singtel customers under the Singtel and Etiqa Insurance Singapore partnership will also be progressively introduced.

*https://www.mom.gov.sg/newsroom/press-releases/2023/0428-labour-market-advance-release---first-quarter-2023

**Customers who wish to sign up for this complimentary plan must be a Singapore citizen or permanent resident residing in Singapore, aged 17 to 65 years old, and subscribed to at least one Singtel postpaid mobile line.

***For accidental death, beneficiaries of the policyholder will receive a lump sum payout that is 12 times the last Singtel bill before death, up to a maximum of S$1,200.

StarHub introduces travel insurance, double the roaming data

StarHub has launched TravelProtection, and doubled roaming data on DataTravel to deliver the best holiday experiences for StarHub customers going on a trip. TravelProtection starts from S$3.80 per day, and covers medical expenses including COVID-19 treatment as well as other benefits.

Source: StarHub. StarHub offers travel peace of mind to customers.

TravelProtection can be obtained with a tap on the My StarHub app. Customers can select the dates they would like to be protected, and on these dates, they will be covered for medical expenses of up to S$200,000, including COVID-19 treatment, or costs incurred for medical evaluation and repatriation. TravelProtection also covers loss of or damage to baggage, travel delay, trip cancellation, and more. StarHub customers can extend this protection to their travel companions, by selecting the duo option at S$7.40 daily or a family option at S$10.50 daily. For convenience, fees will be merged with their monthly bill.

As added benefits, StarHub Mobile customers also enjoy exclusive coverage for phone and SIM card replacement arising out of burglary, theft, or robbery during the trip, as well as the option to receive refunds for unused DataTravel plans due to trip cancellation or postponement.

For a limited time, StarHub Mobile customers taking up DataTravel will receive twice the amount of roaming data at no extra cost. Starting at S$5, the simplest plan now offers 2 GB (usually 1 GB) of roaming data, which is valid for three days in Asia Pacific destinations. Customers planning to spend more time abroad can select the S$20 plan for 6 GB (usually 3 GB) of roaming data, valid for 30 days across multiple trips and destinations.

TravelProtection is a group policy undertaken by StarHub as the policyholder and underwritten by Chubb Insurance Singapore.

Singtel's Dash now offers insurance

Dash EasyEarn, with 2% p.a. returns, marks Dash's move towards innovation in financial services. The insurance savings solution is offered exclusively through Singtel’s Dash app and underwritten by Etiqa Insurance.

Source: Singtel. Dash EasyEarn is a fully-digital insurance product. Customers can purchase, top-up and make withdrawals on their Dash EasyEarn plan via the Singtel Dash app on their mobile phone.

Dash EasyEarn adds financial services to the existing Dash mobile app, which currently provides payments, mobile data top-ups, e-commerce, lifestyle and remittance services. This insurance savings solution is designed for investors who want to start saving regularly for their future but who may be concerned about cash flow. Dash EasyEarn plans start off with a minimum initial premium of S$2,000, up to a maximum of S$20,000. Other benefits include up to 2% per annum returns* for the first policy year, no lock-in period and unlimited withdrawals with zero penalties. 

Gilbert Chuah, Head of Mobile Financial Services, Singtel’s International Group says, “Dash EasyEarn represents the next steps for Dash as it grows to become a more inclusive everyday app that will play a bigger part in enabling our customers’ digital lifestyles. With Dash EasyEarn, customers can start growing their savings with greater convenience with a fully-digital insurance product accessible on their mobile phones. We will continue to use technology to glean deeper business insights, better understand the needs and habits of consumers and bring them the products and services that they want.” 

“Dash EasyEarn was co-created by Singtel and Etiqa to meet the financial needs of digital-savvy consumers, who increasingly seek simple and convenient solutions through all-in-one mobile apps. We are honoured and appreciate the opportunity to work with Singtel to close the distance between people, their money, and services. This strategic partnership epitomises Etiqa’s commitment to pursue financial inclusion through innovation and constantly deliver added value to our customers,” said Dennis Liu, Head of Digital and Business Transformation and Technology of Etiqa Insurance. 

As an insurance savings plan, Dash EasyEarn offers up to 105% of the account value in the event of death. The plan also offers security through its capital guarantee and allows users to withdraw their funds any time in case of emergencies, without penalties or any interest clawback. 

Dash counts over 1 million registered users, is available to everyone regardless of telco or banking relationship, and can be downloaded on any mobile platform. 

Details:

Dash EasyEarn is open to eligible residents in Singapore and is available only through the Dash app. Purchasing and managing Dash EasyEarn can be done through Dash. 

To sign up, eligible users in Singapore** need to verify their personal details before topping up using their bank account to get started. Users can also perform top-ups*** at their convenience and opt to withdraw funds directly into their bank account or Dash wallet. 

Terms apply. Protected up to specified limits by the Singapore Deposit Insurance Corporation (SDIC).

*Guaranteed 1.5% p.a. + 0.5% p.a. bonus for first policy year for a limited time only. 

**All applications are subjected to the acceptance by Etiqa Insurance.

***Minimum top-up of S$500 for each top-up. Minimum policy amount of S$2,000 must be maintained to earn interest. A charge of S$0.70 per withdrawal to user bank accounts applies, but is free of charge to withdraw to Singtel’s Dash.

AIA Singapore gives customers free Covid-19 coverage

AIA Singapore has created free Covid-19 coverage for customers, with no additional purchase or action needed from them.

"We will be providing free additional insurance cover to all eligible customers with immediate effect¹. It’s our way of standing by our promise of helping you and your loved ones live healthier, longer and better lives, especially when it’s most needed," the company said online.

Eligible customers² will automatically benefit from the free additional insurance cover. Coverage ends on 31 December 2020 or 30 days after the Disease Outbreak Response System Condition (DORSCON) level has officially stepped down to green, whichever is earlier.

Should death occur as a direct result of COVID-19, a lump sum of S$25,000 will be paid out³.

Upon diagnosis of COVID-19 and admission to hospital, a lump sum benefit shall be paid of S$1,000.³

Details :

Read the terms and conditions and the policy contract

1 For policies issued between 17 February 2020 to 31 July 2020, the Free Additional Insurance Cover for COVID-19 will commence on 17 February 2020 or on the policy inception date (whichever is later).

2 Eligible customers shall refer to the policyowner or life insured who is a Singapore resident* with a valid NRIC/FIN. They must also have an in-force Life Insurance or Accident & Health Insurance policy that has been issued on or before 31 July 2020. AIA advises policy holders to read the policy contract for the full terms and conditions.

3 This benefit will only be paid out once per insured and may be subject to a waiting period of 14 days before the benefits will be paid out. AIA advises policy holders to read the policy contract for the full terms and conditions.

Get advice, then buy your own life insurance online via NTUC Income

NTUC Income has launched Online Life and askSage, its life insurance portal and digital adviser for life insurance respectively.

Peter Tay, Income’s COO, heads the company’s Digital Transformation Office. He said, “The integrated proposition of Online Life and askSage is powerful because, for the first time, consumers are supported with digital assets that enable self-service of life insurance seamlessly online from fact-finding, financial review and needs analysis to direct product identification, comparison and purchase.”

“For digital natives who primarily prefer online engagements, the integrated digital proposition is timely in extending their access to life insurance and closing their protection gap. This is significant as traditional outreach by financial advisers to this segment of the community has proven to be challenging,” Tay added.

While integrated, Online Life and askSage can be accessed separately. Online Life opens up life insurance options for direct purchase beyond the current slew of direct purchase insurance (DPI) options from Income. Income has made available on Online Life 18 savings and protection plans, of which six are riders (editor's note: add-ons to a basic plan), for direct purchase. This is the most comprehensive suite of digital life insurance products by an insurer in Singapore to date, the company said.

The life insurance portal helps consumers discover what best suits their financial needs at different life stages with product comparisons. Consumers can also customise premiums, the sum assured and policy duration on the portal. Depending on the type of life insurance plan and underwriting requirements, it will take about 15 minutes to complete the application and purchase journey on Online Life.

Digital adviser askSage is designed to help consumers make informed decisions and empowers self-service financial planning. The platform offers online financial reviews, after which consumers are offered a list of relevant products. Currently, askSage offers 25 Income savings and protection plans, which include six riders. To purchase life insurance, consumers can either purchase the products directly on Online Life or go through an Income financial adviser.

Consumers can address queries via live chat on both platforms. They can also leave their contact details so that an adviser can call them.

To further enhance consumer engagement, Income will be introducing a Personalised Adviser Store to its financial advisers in phases, starting in Q319. The store will allow advisers to build their online profiles and extend their outreach to consumers with selected product links, promotions and value-added information such as blog articles.

Tay said, “We understand that purchasing life insurance is a long-term commitment and requires careful consideration. It helps that Income is sensitive to consumers’ painpoints and are set to bring life insurance closer to them by offering not just product diversity but also flexibility with our touch-points to offer them seamless online-to-offline customer support when needed.

"As we build our digital capability to stay relevant in today’s digital age, we are also integrating our distribution channel in our digital propositions to strengthen our offering as a multichannel insurer. This is essential in offering our policyholders an unparalleled customer experience with insurance.”

Explore:

Online Life and askSage

AIG Singapore introduces online travel insurance offer

AIG Asia Pacific Insurance (AIG Singapore) has launched a new online travel insurance product – Travel Guard Direct – that leverages data to provide customers with insights on their destination countries. as part of its push to digitise the customer journey from purchase to claims, bringing greater efficiency and convenience.

The product is the first in Singapore to allow customers access to real-time claims information for top destination countries across Asia Pacific, the US and UK, so that customers can better understand travel risks, and make informed choices about the level of coverage they need. Real-time information on the platform includes claims for top destinations; for example, top claims for travellers to Thailand tend to be medically related.

It is priced according to destination, duration and age, so customers can benefit from more accurate, effective pricing based on the risks involved. Customers can also select a plan by travel destination, when they had to figure out which zone their destination belongs to in the past.

Ignatius Chng, VP and Head of Group Personal Insurance, AIG Singapore, said Travel Guard Direct was developed with a more customer-centric experience in mind and is part of the company’s ongoing digital transformation efforts to use technology to meet changing customer needs.

“As a market leader in travel insurance, we wanted to harness our data and digital capabilities to profile customers more effectively and deliver more relevant solutions. As customers are more digitally savvy, they prefer bite-sized information and fuss-free online purchases. With Travel Guard Direct, we hope to create a more personalised experience that reflects each individual’s preferences and circumstances.” Chng said.

The move follows a tieup with DBS to offer instant travel claims e-payment in October. AIG Singapore’s policyholders who are existing DBS or POSB account holders will receive quick payouts to their bank accounts for successful travel insurance claims once these have been approved, without needing to wait for cheque payments. As an example, travel inconvenience claims involving flight or baggage delay are expected to take three working days, down from the current eight. 
Details:

Travel Guard Direct provides four plan types: Basic, Standard, Enhanced and Supreme. Customers can select either a return or one-way trip option, while the Enhanced and Supreme plans include an add-on Cruise Vacation Benefit, which provides customers with cover on their cruise vacations by topping up as little as S$3. 

Customers will also be able to submit and receive claims, as well as view price comparisons for individual trips and annual policies on AIG Singapore’s website. 

FTLife offers insurance plan with 5.9% return

FTLife, one of Hong Kong's largest life insurance companies and a wholly-owned subsidiary of Tongchuangjiuding Investment Management Group (JD Group), has introduced an enhanced Regent Insurance Plan that will provide policyholders with an overall total return of up to 5.9%, in contrast to near-zero bank deposit rates in Hong Kong.

The plan is targeted at people seeking long-term growth. It offers an overall total return of up to 5.9% and allows policyholders to withdraw annual dividends* every policy anniversary, or plough them back into the plan to accumulate greater wealth.

Interested?

Call the FTLife Customer Service Hotline on +852 2866 8898.

*Dividends are not guaranteed.

Figure out financial products with GoBear in Malaysia

GoBear has launched in Malaysia. The metasearch engine aims to help individuals make sense of financial products like travel insurance policies and credit cards with unbiased side-by-side comparisons. It currently lists over 1,000 financial products and will be adding more.

"GoBear originated from the idea that people today want easy access to service information, and that customers should be able to compare various financial products easily before making a decision. This is where GoBear steps in, to provide a new experience that makes searching for financial products quickly, easily and transparently," said Iskandar Ezzahuddin, Country Director Malaysia, GoBear.

"Today's insurance buyers are mobile-first, multi-screen and social media savvy. To reach them, insurance companies will need to employ an increasing emphasis on simplicity in search."

Andre Hesselink, Chief Executive Officer of GoBear explained, "GoBear is a global brand in the making and we are very focused on being local to serve customers in each of our key markets in the best way. Together with a team of Malaysian specialists, we continue to enhance the seamless user experience, with search, filter and insurance quotes."

GoBear Malaysia currently features travel insurance and credits cards. The site will be expanding into the car insurance and personal loan category in the third quarter of this year. GoBear has recorded a 50% month-on-month growth in usage with over 1.2 million users since it first established itself in Singapore and Thailand. The company plans to expand further into Southeast Asia this year.

Hashtag: #gobearMY 

Lockton opens first Jordan office

Lockton, the privately-held, independent insurance broker, has opened a Jordan office in Amman, to be headed by Ahmad Abdo, General Manager. The expansion will enable the business to better serve corporate clients' insurance and risk management needs in Jordan, and regional and international clients with operations in Jordan.

Wael Khatib, Senior Partner & Chairman, Lockton (MENA) commented: "Lockton is a client-focused organisation, passionate about serving our clients. As we continue to grow our business, we need to stay close to them so that we can continue to improve our first-class local service and support."

He added, "Mr Ahmad Abdo is well known and respected in Jordan, with substantial experience in the market. I look forward to working with him and his team in further building the business and supporting our rapidly growing client base in Jordan and beyond."

Ahmad commented, "Lockton is enjoying rapid growth and development within the UAE and broader MENA region, as clients increasingly recognise the benefits of our keen focus on meeting their needs and our ability to create effective solutions. I am very pleased to be joining Lockton at this exciting time and to contributing to the continued success and evolution of the business."

In the coming 12 months, Lockton is planning further expansion in countries across the MENA region, the company said.

AmMetLife Insurance launches ProtectSecure Prime life plan

AmMetLife Insurance has launched ProtectSecure Prime, a whole life plan with guaranteed premium from as low as RM150 per month. ProtectSecure Prime offers three premium payment term options - 10 years, 20 years or up to age 60 after which no further payments will be required to keep the policy in force.

Source: AmMetLife website.

In addition, customers will enjoy an annual 10% increase of the initial sum assured upon completion of policy year one up until policy year 10. ProtectSecure Prime also has a unique double coverage feature for extra protection which takes effect between policy year 11 to age 61, in the event of death, total permanent disability or any of the 36 critical illnesses depending on the plan selected.

Said Ramzi Toubassy, Chief Executive Officer, AmMetLife: “We stand by our brand positioning ‘Live Ready’ as we are committed to provide the best options for our customers to live confidently today and to live ready for tomorrow.”

Datuk Mohamed Azmi Mahmood, Acting Group Managing Director, AmBank Group added: “Together with AmMetLife, we are pleased to distribute ProtectSecure Prime, which will be made available at all AmBank branches nationwide from 10 August 2015. As Your Bank and Malaysia’s Bank, we are confident that ProtectSecure Prime is a smart insurance plan that will benefit our customers greatly with its unique features.”

ProtectSecure Prime is a bancassurance product and will be distributed through 172 AmBank branches. ProtectSecure Prime is available to individuals aged up to age 50 only, depending on the plan selected.

Interested?

Visit an AmBank branch in person, check on the website or dial 1300 888800 with enquiries.

Mashreq Bank launches Insure+ Saver savings and investment bundle

Source: Mashreq website.

If you are looking for unbeatable interest rates and a new opportunity to invest wisely, Mashreq Bank has introduced Insure+ Saver, a unit linked savings plan and fixed deposit bundle product for Mashreq Gold members. 

Designed for savers, Mashreq Insure+ Saver offers a wide range of underlying funds. Customers can switch funds freely to match their investment goals in accordance to the market movements. The product offers low withdrawal charges, thus making it easy for customers to access their money. The minimum investment requirement is US$25,000 in a fixed deposit along with an equal amount in an insurance savings plan.
The new product bundle underscores Mashreq’s commitment to offer the best products and service to its customers. Tooran Asif, Head of Personal Banking at Mashreq said:  “Mashreq’s new savings and insurance product is the right opportunity for our customers to make a prudent investment decision and to ensure that 2015 will be a financially rewarding year for them. Mashreq Insure+ Saver is the only way to earn the highest interest rate of 4% per annum on savings in the country. No other bank in the whole of the UAE can offer such a return.”