Innovative insurance offerings, underwritten by Great Eastern, seek to address customer needs arising from their increasingly digital lifestyles, featuring telco-centric benefits that are industry firsts. This collaboration expands Singtel’s foray into insurance, tapping its wide customer base to reach more than 60% of all households in Singapore, and valuable customer insights that help tailor insurance products to customers’ lifestyle needs.
Singtel and Great Eastern will be introducing Singtel Home Protect, a home insurance first that provides coverage for both telco bills and home contents. The plan reimburses Singtel broadband expenses besides covering renovation, furniture, appliances, valuables and personal effects, which most home owners do not insure today. Insurance that bundles both home contents and broadband is synergistic, as home owners typically sign up for or re-contract their broadband services when they shift or renovate their homes. The shift to work from home since the onset of COVID-19 has made home improvements to create a more conducive environment. This makes protecting their homes with Singtel Home Protect more important than ever. On top of better coverage for home belongings, we want to give our customers additional peace of mind by providing extra protection for their telco bills. We’ve worked closely with Great Eastern to enhance traditional insurance with the kind of telco benefits that speak to our reliance on technology and this will also be extended to motor and travel insurance.
The launch of these general insurance products adds to Singtel’s expanding range of insurance offerings for its customers. Singtel first made its foray into the local insurance market last July, when it launched free personal insurance cover for its prepaid customers as part of mobile data plans. Earlier in the year, Singtel extended free 30-day COVID-19 insurance coverage to prepaid and Dash customers. Singtel also introduced an insurance savings plan for Dash customers who wish to start saving regularly for the future.