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Singapore Life offers life insurance products to retail customers. Its insurance technology platform provides insurance products and savings options for risk-averse people. it makes online life insurance conveniently available to users by offering life products, standalone term insurance with associated riders, investment-linked plans and wrappers, and endowment assurance.
The product offering includes - Term Life:- It allows users to customize their according to their requirement of the coverage. This policy covers major cancers, stroke, heart attack and sudden disability. Universal Life:- It allows them to optimize their wealth portfolio and protect their family at the same time by providing a minimum guaranteed crediting rate. Stay Active:- This program allows them to register themselves on the platform with the existing policies. Therefore they can earn the rewards based on the highest step count. Endowment Plan:- It provides Single Premium Endowment plan which helps them to earn returns with their policy plans after 3 years.
The company generates revenue by Commissions earned from its Insurance schemes.
Retailers & Consumers
1-Banking Partners -UBS,DBS 2-Auditor partner - EY 3-Actuaries - Milliman 4-Reinsurers - Munich RE
Pacific Life RE
Hannover re 5-Distribution Partner - JLT,PromiseLand,Financial Alliance,Finexis,AAM advisory,PolicyPal
$333.33 M in 2017
Singapore life has been approved as a fully licensed direct life insurer by the Monetary Authority of Singapore(MAS), thus making it the first local insurer to be licensed since 1970.(Jun 2017)
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