SINGAPORE (July 25): Singtel is making its foray into the insurance market by rolling out Singapore’s first prepaid data plan and Dash mobile remittance service that comes with personal insurance cover, provided by NTUC Income and with premiums paid for by Singtel.
Currently, Singtel provides mobile connectivity to more than 60% of foreign workers in Singapore. This insurance coverage will complement the mandatory medical insurance that employers need to purchase for foreign workers.
Prepaid customers who purchase a 30-day 50MB Protect data plan worth $2 or do a $20 prepaid top-up will be entitled to an insurance policy that provides coverage for 30 days. The coverage include a range of benefits, such as lump sum payouts in the event of loss of employment due to hospitalisation, as well as permanent disability and accidental death.
Insurance holders will also be able to enjoy daily cash benefits for each day of hospitalisation and a one-off get-well benefit, together with mobile data.
Meanwhile, Dash customers who remit at least $100 will qualify for Free 30-Day Dash Protect, an insurance policy that offers lump sum payouts in the event of permanent disability and accidental death – a first in the remittance market.
Customers can easily enrol through the hi!App or Singtel Dash app, without any paperwork or medical underwriting.
Furthermore, as part of Singtel’s initiatives to engage foreign workers, it has partnered the Centre for Domestic Employees (CDE) and the Migrant Worker Centre (MWC) to offer connectivity and remittance benefits to newly-arrived workers. These members of CDE and MWC receive a welcome SIM offering free data and International Direct Dialling talk time, while enjoying $5 cashback on their first remittance on Dash.
Yuen Kuan Moon, CEO of Consumer Singapore at Singtel, says, “As many of our prepaid and Dash mobile remittance customers are the sole breadwinners in their families, income stability and protection from financial loss are among their topmost concerns. By working with Income to remove price barriers and simplify the sign-up process, we want to make insurance accessible for all, enabling our customers to protect their loved ones, by simply topping up their data or remitting money back home. We are always seeking new ways to complement our customers’ lifestyles and will be introducing other insurance products in the coming months.”
Shares in Singtel closed at $3.47 on Thursday.
