Singlife Completes Migration to AWS, Now Singapore’s First Cloud-Native Insurer

Singlife Completes Migration to AWS, Now Singapore’s First Cloud-Native Insurer

by June 5, 2024

Homegrown financial services company Singlife has successfully completed its migration to Amazon Web Services (AWS). The firm claims to be the first insurer in Singapore to be fully cloud-based.

Announced in late 2022, the multi-phased project, supported by AWS Professional Services, involved migrating over 39 mission-critical applications and exiting its data centers within 18 months.

The collaboration with AWS allows Singlife to better anticipate customer needs and develop the next generation of financial products.

By leveraging AWS’s infrastructure and machine learning services, including Amazon SageMaker, Singlife aims to meet the growing demand for real-time, hyper-personalised digital financial services.

This shift is expected to streamline operations, reduce processing times, and lower costs, thereby enhancing customer experience and boosting employee productivity.

With the completion, Singlife can now deploy more scalable cloud infrastructure to meet evolving business demands.

Singlife utilises Amazon Relational Database Service and Amazon Aurora to expedite the development and market launch of new products.

Additionally, the migration supports Singlife’s goal of measuring and reducing its carbon footprint, contributing to its commitment to achieving net zero emissions by 2050.

To support this transition, Singlife has integrated AWS training programmes, resulting in over 70 percent of its business and technical leaders earning AWS certifications since 2022.

This move is expected to save the company approximately S$5 million annually.

Romil Sharma

Romil Sharma

Romil Sharma, Group Head of Technology and Operations at Singlife, said,

“The completion of this migration is a momentous occasion as it has given us a head start in our cloud-first and now cloud-only strategy. Singlife is continuously reviewing better, faster and more innovative solutions in all that we do.

 

We look to continue to enhance our business resiliency, security and capabilities, to provide our customers and community a better way to financial freedom.”

Priscilla Chong

Priscilla Chong

Priscilla Chong, Country Manager, Singapore, AWS, said,

“Singapore’s financial sector has seen rapid digitalisation to create innovative products that are secure, resilient, and intuitive for customers. I’m thrilled that Singlife has completed its all-in migration to AWS ahead of schedule to accelerate its cloud-only growth strategy.

 

Beyond enhancing customer experiences through data analytics, AWS is committed to helping Singlife achieve its sustainability goals, digitally train its workforce, and continuously deliver innovative new products using the cloud, AI, and generative AI to delight its customers.”