SINGAPORE LIFE
In less than one year of operating in the market , and having acquired Zurich Life Singapore ’ s expansive customer portfolio , Singapore Life continues to push the boundaries of technology in life insurance
“ Born in Singapore , we ’ re the next generation life insurance .”
So says the mission statement of Singapore Life , the new life insurance provider that everyone is talking about which promises to deliver a better experience to the customer through technology . Following the acquisition of Zurich Life ’ s Singapore arm in early 2018 , the company is expanding its footprint aggressively and growing its customer base significantly .
In the ever-changing world of insurance , one that is being driven increasingly by technology , the promise to deliver value through technology is as important now as it has ever been .
According to Singapore Life CEO Walter de Oude , despite the rise of technology and artificial intelligence across the industry , particularly within Singapore , the old life insurance industry has not kept up with digital innovation .
Singapore Life , founded in 2014 , and fully licensed in 2017 was built around such a window of opportunity .
“ The insurance industry was fundamentally broken in my view ,” says de Oude . “ There were significant opportunities for customers to benefit from technology , opportunities that were not being explored .”
“ And so that ’ s what we did . We set up Singapore Life to do just that , to explore the potential for what a new insurance company could do better , with all the power of today ’ s technological efficiency .”
114 April 2018