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May 2024

Product Bites

Source: Asia Insurance Review | Feb 2020

Chubb and Grab launch Travel Cover in Singapore
Chubb has partnered with Grab to launch a new travel insurance product called ‘Travel Cover’ which enables Singapore-based users to purchase travel insurance on the Grab app at any time until departure. 
Customers can purchase Travel Cover from S$2.50 ($1.86) per day for travel to any destination globally via a new insurance tile that has been added on the Grab app. 
Users will be able to save their travel profiles on the app making future purchases easy and convenient. Additionally, they will be rewarded with discounts for each repurchase of the travel insurance. 
To celebrate the launch of Travel Cover, the first 20,000 customers can purchase the insurance product at a discounted price of S$1 per day till 29 February for trips within the Asia Pacific region. 
The product will be distributed by Grab Financial Group’s insurance platform GrabInsure Insurance Agency and will be rolled out to other Grab markets in Southeast Asia in the coming months.

HSBC Life Hong Kong partners Preferred Global Health to offer policyholders more critical illness support 
HSBC Life Hong Kong has partnered US-based global healthcare provider Preferred Global Health (PGH) to provide policyholders of the HSBC Health Goal Insurance Plan (HGIP) with access to ‘Global Medical Care Services’. This refers to personalised care and consultation services to enable customers and their families to make informed decisions about their treatment plans and receive ongoing guidance and support.
Customers insured with HGIP can leverage Global Medical Care Services to connect with leading hospitals and specialists in cancer, heart disease and stroke.
Global Medical Care Services will provide the following services: 
‘Diagnosis Verification and Treatment Plan’ confirms or provides further diagnosis and helps develop an optimal treatment plan. Each medical case will be reviewed in-depth by multi-disciplinary teams of Harvard-level specialists in the US, enabling patients to make informed decisions about their course of treatment.
‘Doctor-to-Doctor Dialogue’ facilitates professional collaboration between the local doctor and medical experts via secure video conferencing, to discuss and develop an optimal treatment plan. Patients can choose to stay close to home to receive their treatment.
‘US Care Management’ arranges all the medical appointments on the patients’ behalf with personalised concierge service, if they opt to be treated in the US. The all-round concierge service includes the arrangement of travel, accommodation, hospital, billing and after-care for patients.
Great Eastern and Axiata Digital Capital to offer customised digital products
Great Eastern and FinTech Axiata Digital Capital have collaborated to provide affordable and customised digital insurance and takaful products for consumers, micro-entrepreneurs, and SMEs in Malaysia and Indonesia.
The insurance and takaful products include, but are not limited to, life insurance and takaful, health insurance, home insurance, personal accident insurance with premiums or contributions starting from MYR1.50 ($0.36) and IDR5,000 ($0.36).

Etiqa Insurance launches cancer insurance with no claim discount
Etiqa Insurance has unveiled its latest offering of cancer insurance with no claim discount in Singapore.
This offers full coverage and payout for all stages of cancer to help customers and their families to meet financial needs as they occur. Additionally, the policyholder will receive 6% savings on their annual premium upon policy renewal if no claims have been made in the previous policy term.
It will pay out 100% of the sum insured if the policyholder is diagnosed with cancer at any stage, and a death benefit of S$5,000 ($3,712) in the event of the policyholder’s demise. The policy can be purchased online with premium from S$0.27 per day. A 
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