Expertise-focused insurer Singapore Life has launched into a serious rebranding effort, shortening its identify to Singlife, adopting a brand new brand, and unveiling a brand new technique known as ‘Handle, Develop & Defend’.
“Everybody calls us Singlife already anyway, so let’s embrace it,” the corporate mentioned in an announcement.
Singlife added that its earlier lion brand has been modified to a ‘burst’ brand. In accordance with the insurer, the brand new brand signifies the “burst of power that expertise brings to assist our prospects overcome the inertia of unlocking the potential of their cash.”
As a part of the brand new technique, the insurer launched the Singlife Visa debit card, which works at the side of the Singlife Account financial savings plan, a transfer which the corporate claims to be the primary of its form in Singapore. The debit card’s holders can immediately entry their financial savings, eliminating the necessity for utility varieties to be able to withdraw money from their insurance coverage accounts, with no penalty for early withdrawals, the assertion mentioned.
In accordance with Singlife, a serious difficulty that prospects face isn’t getting actual returns from their idle cash, accompanied by a concern of lock-ins or charges. This has resulted in over SG$500 billion sitting largely idle in present and financial savings accounts.
“As soon as we understood this key perception from on a regular basis Singaporeans, we realized that Singlife is completely positioned as each a fintech in addition to a licensed monetary establishment to deal with this difficulty, mentioned the corporate’s founder and CEO Walter de Oude. “This has been the catalyst for our enterprise to broaden its technique past a traditional insurance coverage method leading to our new product verticals of ‘Handle, Develop & Defend’.”