Singapore’s leading online insurer, Etiqa Insurance, plays a part in accelerating Singapore’s smart nation transformation by launching new services and integrations. It is the first insurer to integrate with ‘MyInfo’, a digital data vault launched by Government Technology Agency of Singapore (GovTech) and the Ministry of Finance. With this, over 3.3 million consumers on SingPass can purchase insurance in record time.
In addition, Etiqa has also collaborated with DBS Bank on instant claims payment capabilities to launch Etiqa’s eWallet service, enabling consumers across multiple banks to instantly credit and encash insurance claims online, in real time. This streamlines the standard two-week claims payment process from cheque preparation to receipt.
The launch caps off a record year for Etiqa, which has seen more than 200 percent annual growth in online revenues from its financial products as of Nov 2017. In 2017, Etiqa has helped more than 70,000 customers purchase products online, and successfully approved more than 90% of submitted claims within one day.
“The shift from offline to online plays to Etiqa’s strength as among the most innovative digital insurers in Asia and the market leader in Singapore. Our status as the first online insurer to integrate with MyInfo and our efforts to leverage market-first digital capabilities leveraging on Application Programming Interface (API) from DBS further cement our commitment towards improving the customer experience as we capitalise on growth opportunities in the online insurance industry,” said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Pte. Ltd.
For more information on Etiqa, visit www.etiqa.com.sg.