Insurance Company Profile: Singapore Life

Insurance Company Profile: Singapore Life

Summary

Singapore Life is a 100% digital direct insurer offering life cover. It also offers financial solutions to customers to help meet their protection, savings, and investment needs. Backed by IPGL (Holdings), the firm commenced operations in June 2017. It describes itself as an insurtech company that is looking to use technology “to provide a better insurance experience”.

This profile highlights an insurance company that is trying to grow a direct-to-customer online proposition for life insurance. It outlines its business structure, financial performance, products and strategy, and marketing and distribution activities before concluding with a SWOT analysis.

Key Questions Answered
- What does Singapore Life offer?
- What are Singapore Life’s strengths and weaknesses?
- What opportunities and threats will the company face going forward?

Scope

- Singapore Life offers term life insurance online without requiring a medical examination. The company targets its proposition at individuals who self-execute financial services as well as HNW individuals looking for protection and legacy planning.
- The firm’s business model is focused on making insurance hassle-free, accessible, and convenient for customers by leveraging technology.
- In January 2018, Singapore Life acquired Zurich Life Singapore’s business, adding S$6bn (£3.3bn) of life, critical illness, and disability policies to its books.

Reasons to buy

- Learn about Singapore Life’s organizational structure and its core business segments.
- Gain insight into its underwriting and distribution strategy.
- Understand the group's advertising strategy.