Every year, thousands of Singaporean students say goodbye to their families at Changi Airport and leave to study abroad. When you study abroad, you’ll be at the mercy of your host country’s healthcare system. Unless the country offers free healthcare to everyone within its borders, no questions asked
It could be complying with the 70% foreign ownership cap on insurers. Great Eastern Holdings (GEH) is reportedly engaging with Malaysian banks to explore the selling of its stake in its Malaysian operations, DBS Equity Research said. According to a report, several other foreign insurance companies
As a general rule, you want to ensure you’re receiving adequate coverage for medical expenses and emergency evacuation. This insurance policy is one of the cheapest in town, but still packs a decent punch in terms of compensation offered. You get up to $200,000 worth of overseas medical coverage, up
The adoption of technology is streamlining the delivery of insurance products. Steady economic momentum and an increasingly ageing population will continue to drive strong demand for insurance products in Asia Pacific, according to Moody’s Investors Service. “Long-term demand for life insurance will
You’re excited to experience this whole new stage of life, yet you’re tremendously afraid something might go wrong, even before they come out into the world! It’s clear insurance companies recognise the plight parents go through, with new prenatal insurance plans catering to pregnant mothers popping
Hiring in the government and PSU sector dipped the most. Recruiters have been increasingly turning to online hiring as e-recruitment activity in banks, financial services and insurance (BFSI) rose 17% ...
Reading about the rise of car insurance fraud claims in the news must be bittersweet to many drivers who were victims of such syndicates. More than a few of us (including one MoneySmart employee!) have been in situations where we’ve had our suspicions about the true nature of a car accident that we’
National health insurance reimbursement will be expanded. The ambitious healthcare agenda under Moon Jae-in's liberal presidency will seek to expand national health insurance reimbursement and limit the burden of excessive medical costs, while overhauling the healthcare system to deliver more value-based
This chart from UOB shows that Singapore has the lion's share of insurtech, or insurance technology, firms in ASEAN as 25 took base in the country as of October 2017. Indonesia and Thailand followed the Lion City with 17 and 14 firms established, respectively. UOB said the term insurtech is becoming
Insurance agents are just one rung below telemarketers on the list of people Singaporeans avoid… until they actually need them. Like them or loathe them, there’s no question that having a good relationship with a trusted agent is indispensable in Singapore, where medical insurance is a must for most
Terror attacks topped the list. Business leaders in Singapore are most worried about terrorist and cyber attacks for their companies, said a new survey from Marsh & McLennan Companies and Zurich Insurance Group. Singapore executives joined US counterparts in ranking terror and cyber attacks as their
As sensible readers, we know you wouldn’t dream of going abroad without travel insurance. Well, if you’re a parent travelling with kids who will no doubt insist that you sacrifice your shopping time so you can visit every theme park and zoo in town, travel insurance is a thousand times more important
Despite being one of the oldest industries in the world, the insurance industry has (relative to the banking and financial industries) been less responsive towards the technological advancements that are rapidly transforming the world outside of it, particularly developments in the FinTech space. As
When you stop learning, you stop living—quite literally in Singapore, actually, as you need to constantly learn and upgrade yourself in order to survive. Whether every single part of your body is insured for millions or you still have no idea what insurance you need or even why, if you don’t understand
Okay, so poring over insurance policies and actually speaking to insurance agents rather than running away from them isn’t exactly the most enjoyable way to spend a Tuesday night. You should totally avoid insurance agents like the plague—unless you actually do want to buy insurance but aren’t sure what
A lot of Singaporeans don’t care much for car insurance other than how cheap it can get every year, but this can lead to problems and disappointment should you ever need to make a claim. The annual premium of a policy is basically what you pay every year to be covered. Your premium depends on the company
Its order book amounted to $750m with over 55 accounts. Wing Tai Holdings' (Wing Tai) 4.35% perpetual bonds were more than four times oversubscribed. Wing Tai's order book received over $750m from over 55 accounts, 70% of which was from private banks, whilst the rest consisted of funds, insurance
Getting a car in Singapore is a bit like having a fancy dinner. In Singapore, we’re a little like that when it comes to car insurance. After all, when you’ve just spent so much on the vehicle itself, just getting the cheapest car insurance should be fine, right?
This was against a backdrop of a soft labour market. The Life Insurance Association Singapore (LIA Singapore) announced that the life insurance industry has reached a total of $1.68b in new weighted new business premiums for the first six months of the year. This is a positive development in the context
Its wealth management and insurance operations were stellar performers. The second quarter performance of OCBC was impressive given the 22% YoY increase in its net profit to $1.08b. According to the group, its banking, wealth management and insurance operations delivered a strong year-on-year performance
Contrary to popular belief, personal accident insurance coverage isn’t just for risky jobs. In fact, if you haven’t already read what you need to know about personal accident (PA) plans, they’re useful ...
The insurance arm of OCBC Bank reported a stellar set of numbers in its quarterly financial report, with net profit attributable to shareholders shooting up by 173% to $279.5m. For the said quarter, its profit for life insurance grew 123% to $244.2m, whilst is general insurance profit dwindled by 55%
Great Eastern Holdings’ general insurance arm, Overseas Assurance Corporation (OAC), has been rebranded as Great Eastern General Insurance (GEG) in Singapore, with its operations in Malaysia targeted to follow suit end of August 2017. The rebranding is part of the company’s strategy to strengthen its
It is in collaboration with MSIG. MSIG Insurance and DBS Bank have announced the launch of Singapore’s first instant electronic payment service for travel insurance claims. The new initiative will reduce ...
The divestment could yield $426m. Singapore banking giant OCBC agreed to divest its 33.3% stake in Hong Kong Life Insurance to First Origin International. According to UOB Kay Hian, the transaction resulted ...