InsurTech

Singlife Launches Singapore’s First Insurance Savings Plan with Visa Card to Spend

Digital insurer Singlife announced today that they have launched their mobile-first insurance savings plan, the Singlife Account.

Previously on waitlist, the public is now able to download the Singlife App while an exclusively selected group of customers from the earlier waitlist will be among the first to start earning interest on their Singlife Accounts.

Every Singlife Account comes with an optional Visa debit card that gives customers instant access to their account and allows them to make overseas transactions without incurring FX charges.

In just two months from the launch of the new Singlife brand in September 2019, the Singlife Account has already seen over 2,000 customers signed up on its waiting list, signifying a collective demand for an insurance product that gives today’s mobile-first generation what they want for their money.

Walter de Oude, CEO and Founder of Singlife shares,

Walter de Oude

“We decided to flip savings products upside down by giving customers a higher interest rate for the money that sits in the bottom of their account without lock-ins. This is designed to simplify saving and do away with the fear of lock-ins that often keeps customers’ money in low interest earning accounts.”

“Today’s consumers are looking for simpler ways to make their money work harder. We want to help our customers manage, grow and protect their savings, unlocking the true potential of their money. We strive to provide customers with a seamless experience, ultimately putting the power back into their own hands,”