Etiqa launches holistic retirement ecosystem

| 18 May 2021

Etiqa Insurance Singapore (Etiqa) has launched AMBER, a retirement ecosystem platform that complements the insurer's growing range of financial solutions tailored to savings and retirement planning, by offering customers a more holistic approach to life in retirement.

A recent retirement study conducted by Etiqa in collaboration with YouGov in October 2020 revealed inadequacies in the retirement planning landscape, namely with regards to retirement planning guidance, with three in 10 Singaporeans unsure how to begin, and solutions, with only three in 10 confident that CPF payouts can sustain their retirement lifestyle.

Similarly, only three in 10 believed CPF payouts are sufficient to cover the potential medical costs of ageing.

Among Etiqa’s present retirement offerings is ePREMIER retirement, a retirement insurance savings plan that provides a guaranteed monthly retirement income as well as the freedom to choose one’s preferred retirement age and premium term. The policyholder enjoys protection throughout the policy term. Another soon-to-launch retirement product by Etiqa will provide coverage for age-related illnesses, and flexible retirement income options for policyholders.

Addressing the physical and mental health aspects of ageing, the AMBER ecosystem also presents an array of retirement-related information and services to add value to the lives of pre-retirees and retirees. Etiqa’s retirement survey brought to light three pressing retirement needs among people in Singapore: To remain emotionally healthy and mentally able (98% in agreement), to be physically healthy (98%) and to be less dependent on others (97%).

AMBER responds to these demands with Amber Adviser, a matching service to connect customers to available local service providers based on their unique needs, from nursing homes, caregiving and nursing care to professional services such as physiotherapy and dental care. AMBER members enjoy member rates on any services booked through the platform.

AMBER also features an itinerary of diverse curated activities, including arts and crafts workshops, and yoga and fitness sessions. While creative workshops help stimulate the mind, physical exercise helps to strengthen and condition the body, a potentially preventative measure against the physical inconveniences that accompany old age.

Meanwhile, participating in group activities promotes social interaction, which can support emotional and mental well-being. Member rates are available on all curated activities.

In addition to these benefits, AMBER members also gain access to exclusive promotions, gifts and platform privileges. As AMBER continues to expand, customers can look forward to new features and services towards the end of the year.