Singtel and Great Eastern recently announced their partnership to launch a range of general insurance products covering home insurance, motor insurance and travel insurance. They are jointly developed by both companies, innovative insurance offerings, underwritten by Great Eastern, seeking to address customer needs arising from their increasingly digital lifestyles, featuring telco-centric benefits that are the firsts in the industry.
This collaboration expands Singtel’s entry into insurance, tapping on 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 Home Protect
To kick start off this collaboration between Singtel and Great Eastern, they will be introducing Singtel Home Protect. This is a home insurance first that provides coverage for both telco bills and home contents! This plan reimburses Singtel broadband expenses besides covering renovation, furniture, home appliances, valuables and personal effects, an area that homeowners may have neglected and do not insure in today’s society.
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.
Mr Yuen Kuan Moon, CEO of Consumer Singapore at Singtel said, “With the shift to work from home since the onset of COVID-19, many people have 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.”
Coming soon – Motor Insurance and Travel Insurance
In the coming weeks, Singtel and Great Eastern will also be offering motor insurance for car owners. For us travel wanderlusts who are itching to travel again when Covid-19 is under control and international leisure travel restrictions are lifted, Singtel will be introducing travel insurance with mobile-related benefits.
This is another first in Singapore as it includes unique benefits such as reimbursement of Singtel mobile bill during hospitalisation due to an accident, and of additional Singtel mobile data expenses incurred due to delays in travel, as well as repair or replacement of mobile phone in case of loss.
Mr Ryan Cheong, Managing Director of Digital for Business, Great Eastern, said, “The partnership with a trusted telco like Singtel is yet another milestone in our digital affinity strategy and expansion into new customer segments as a leading regional insurer. To provide value-added protection to augment Singtel’s existing customer offer, we leveraged data insights to develop affordable, relevant general insurance solutions with unique benefits to help protect their everyday needs. Through continuous engagement and a seamless consumer purchase journey, we are making customised protection solutions easily accessible to Singtel customers to lifeproof their assets through home, and later motor and travel insurance.”
Singtel Home Protect Details and Information
Singtel Home Protect is offered to Singtel broadband customers at launch and will be made available to all Singtel customers later. For as low as S$6.50 a month, they can sign up for the plan on the Singtel website or through My Singtel app.
The plan covers reimbursement of Singtel bills of S$280 per month for up to three months, and up to S$80,000 for home contents and renovation in the event of disruption to services due to a fire or other types of damage to the home. Available for S$84 for 12 months of coverage, or S$156 for 24 months of coverage, customers can enjoy 10% off Home Protect from now until 18 September 2020.
For more details, visit singtel.com/homeprotect.
* Information courtesy of Singtel Corporate Communications *