Swiss Re and Wysa mental wellbeing app for insurance
Swiss Re has partnered mental health platform Wysa to create an insurance-specific app which helps consumers better track their mental wellbeing and improve links to insurers’ existing support networks, such as therapy providers or employee assistance programmes.
Wysa’s existing app features AI-guided listening and self-management mental wellbeing support modules that help consumers with areas of concern such as depression, stress and anxiety, where most disability claims arise.
The new app will include improved monitoring and mental health tracking and better reporting for insurance clients. This is designed to enable ‘pre-notification of claims’ by encouraging policyholders to seek support – through proven techniques in existing insurer ecosystems – before issues become too extreme.
Potential pilot markets for the improved app include Australia, Canada, New Zealand and the UK. A
Etiqa Insurance launches its first digital ILP
Etiqa Insurance Singapore has announced the launch of its first investment-linked plan (ILP), Tiq Invest.
Built to be a low-cost ILP, Tiq Invest features policy management charges of 0.75% per annum of the account value. The underlying funds of these investments are managed by global and regional asset management companies such as BlackRock, PIMCO and Lion Global Investors among others.
The digital ILP offers policyholders a choice of packaged funds according to risk appetite, as well as the freedom to top up and withdraw funds, or switch packaged funds at any time, at no cost.
Other features of Tiq Invest include its low entry barrier, starting from a single premium of just S$1,000 ($741), and 100% of the premiums paid are invested. The policy pays out a lump sum benefit upon death or terminal illness. A
Gibraltar BSN launches limited edition endowment plan
Gibraltar BSN Life has launched GoGuarantee Plus, a limited-edition endowment plan to help Malaysians safeguard their retirement.
GoGuarantee Plus is a life insurance plan combined with guaranteed returns at 3% of sum assured every five years and a lump sum payment of up to 120% of total premium paid. The enrolment process is also hassle-free as customers can easily protect themselves for up to MYR300,000 ($71,900) with no medical underwriting or health questions.
The plan includes an accompanying golden age disability feature which allows the customer to extend the coverage period and terminal illnesses benefits of up to MYR300,000.
Customers can opt for flexible premium payment of five years, 10 years or the full payment term. GoGuarantee Plus is available until the end of the year and is distributed via Gibraltar BSN’s nationwide agency channel. A
Manulife Singapore and DBS Bank launch customisable digital retirement solution
Manulife Singapore and DBS Bank have launched a co-developed retirement product, RetireSavvy, a flexible, digital retirement plan that offers customers multiple options to tailor a plan that best serves their financial and retirement needs throughout the different phases of life.
Designed to endure and adapt to the various changes in the multi-staged lives of Singaporeans, who have one of the highest life expectancies in the world, RetireSavvy gives customers the option of starting with a small amount and boosting their retirement plans with premium top-ups along the way.
Customers can also update the income pay-out period, retirement income rate and defer retirement age under their RetireSavvy plans and receive a lump sum retrenchment pay-out benefit in the event of retrenchment. A
Igloo partners e-wallet DANA to provide electronic gadget insurance
Indonesian e-wallet DANA has partnered Singapore-headquartered regional InsurTech Igloo to offer its users an affordable microinsurance solution through a digital channel to purchase mobile phone screen protection and make a claim, all in one app.
Underwritten by Jasa Asuransi Indonesia and distributed by Insco Multi Pratama, the plans start from IDR500 ($0.035) and cover up to a maximum of IDR200,000 for cracked ‘phone screens on both new and used mobile ‘phones.
To activate the protection, users can navigate to DANA Siaga in the DANA app to select a plan that suits their lifestyle or select the add-on when completing their purchase of mobile recharge. A
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