Aviva Singapore and Singlife come together

March 2022

Singlife with Aviva was launched on January 1, 2022 as a financial services brand offering customers "A Better Way to Financial Freedom".

It leverages the best of Singlife’s insurtech capabilities and Aviva Singapore’s 40-year track record of providing insurance and investment solutions, advisory capabilities, and strong customer base, to help consumers achieve financial freedom. Its mission is to help consumers gain control of their financial wellbeing at every stage of their lives.

The coming together of Singlife and Aviva Singapore was first announced in September 2020.  Valued at S$3.2 billion, the merger is one of the largest insurance deals in Southeast Asia. 

Singlife is more than an insurance company.  It has a comprehensive suite of solutions such as life, health and general insurance and is one of the largest providers of employee benefits insurance.

Singlife also offers investment solutions, including mutual funds and unit trusts. On top of that, there is the Singlife Account – with the Singlife Debit Card – which allows customers to save, spend, earn, and be insured, all through the Singlife app.

Guided by its vision to be a technology-empowered financial services company, Singlife is committed to a better way for its customers and the community in Asia.

IGP has been working with Aviva in Singapore since 1984 and looks forward to continuing this relationship with Singlife with Aviva.

Singlife with Aviva can provide insurance products that are customized to meet the needs of small and medium-sized businesses, as well as organizations with offices around the world.

SMEs have always played a huge role in the growth of Singapore's economy and will continue to do so.

Employees in this sector have begun to expect benefit packages that were once reserved for employees at multinational corporations.

Employees at SMEs today have access to a host of insurance and financial benefits such as life and health cover, as well as innovative retirement fund entitlements.  With these benefits, SMEs have been able to compete with large businesses when securing top talent.

But these benefits come with added costs and administrative requirements that a business with low employee numbers might not be able to afford.  With this in mind, such businesses should consider off-the-shelf group insurance products that are a lot more cost effective.

Mid-sized organizations though, need to consider more unique solutions. These organizations have in recent times been known to increasingly roll out flexible employee insurance schemes.

The plans – typically popular amongst MNCs – allow organizations to provide baseline insurance cover, while allowing employees to top-up their coverage with additional benefits, such as healthcare, to suit their own individual needs.

Singlife with Aviva‘s MyBenefits Plus group plan is a specially designed insurance solution for Small and Medium Enterprises (SMEs) that gives employees protection against unexpected health challenges and accidents, both on and off the job.  It offers comprehensive group coverage for as few as two employees.

Group Term Life, Group Personal Accident and/or Group Basic Medical

Group Living Care, Group Major Medical, Group Outpatient Medical and/or Group Dental

Premiums are flexible and cost-effective depending on the level of coverage a company needs.  Whether at work or on their day off, employees are covered 24 hours, worldwide.

Singlife with Aviva offers group insurance for large enterprises and multinational corporations, which includes life, health and accident cover:

• Group term life
• Group critical illness rider (see below)

• Preferred care plus (see below)
• Hospital & surgical

• Group personal accident
• Group disability income insurance

• MyGlobalBenefits
• Corporate travel plan

• Wide range of medical treatments
• Cashless treatment from Singlife's panel of general practitioners and specialists
• Singlife's panel of general practitioners and specialists include various hospital specialist clinics and accident & emergency departments
• Option to extend coverage for traditional Chinese medicine and other physiotherapy visits
• Tele-consultation available via the General Practitioner Network
• Submission of claims on-the-go via Singlife ClaimConnect
• Convenience of an e-card
• 24/7 Singlife PriorityCare Hotline to get Pre-authorization Certificates or Letters of Guarantee for hospitalization claims.
• Employees and their dependants can customize their choice of healthcare coverage

• Group critical illness (accelerated payout)
  When diagnosed with any one of 37 critical illnesses, employees will be paid a pre-agreed percentage of the Term Life's sum assured.
• Group critical illness (additional payout)
  Employees will receive coverage when diagnosed with any one of 37 critical illnesses. The sum assured of Group Term Life will not be reduced when making a claim under this rider.

Singlife with Aviva is committed to using data and technology to improve customer experience and believes that customers deserve clear information that allows them to control their financial wellbeing at every stage of their lives.

• Managed healthcare panel clinics
  Access to an island-wide network of clinics with the convenience of cashless payment.

• Virtual medical cards via smart phones

• Electronic claims submission (e-Claims)
  Online submission of claims including claims status facility and faster turnaround time for claims reimbursement

• Electronic payment advice (e-Advice)
  Payment advice via e-mail

• ClaimConnect
  Smartphone app that lets employees covered under Group Insurance to self service their insurance needs on-the-go – from submitting claims with supporting documents, finding a panel clinic to viewing their claims history, etc.

• EBConnect
  Online portal allowing HR officers, brokers and advisors to process their paperwork efficiently and with ease. They can update employee information, print reports, view claim letters and submitted documents, as well as the complete benefits table for a single employee or for the whole company – all in one place.

• Singlife cccount
  The first mobile insurance savings plan in Singapore

• Singlife Visa Debit card
  The first insurance linked card in Singapore

• Singlife grow
  An Investment Linked Policy, in partnership with Aberdeen Standard Investments

Singlife with Aviva was presented the Singapore Service Experience of the Year Award in the Financial Services category at the Asian Experience Awards 2021 for its innovative new eMedex platform.

In response to feedback from advisors about the lengthy time needed for the underwriting of applications for medical insurance, Singlife launched an initiative to streamline the process by leveraging technology to transform a very paper-intensive system.

Working with a third-party vendor, Singlife developed eMedex, a digital platform that allows it to connect with the appropriate systems of its partner clinics so exams can be quickly scheduled and resulting medical reports quickly and securely transferred to Singlife for underwriting review.

• Matching individuals to doctors based on their location and preferences
• Sending text messages to book medical appointments with the preferred doctors and clinics
• Providing information to individuals about their appointments and to help them prepare for tests

Participating clinics were chosen based on their ability to integrate their digital systems and their proximity to customers – giving customers access to more clinics and reducing the time spent at these clinics.

With the eMedex platform, the underwriting process is quicker and more efficient. It now takes 11 days instead of 30, from the time the medical exam is scheduled, to the time the underwriting decision is made.