Etiqa Insurance launches first-in-market online purchase of commercial insurance for SMEs in Singapore

SINGAPORE - Media OutReach - 8 January 2019 - Business owners of small to medium size enterprises (SMEs) can now purchase commercial insurance tailored to their business needs online with Etiqa Insurance Singapore. The innovative digital insurer launched the Business Owners Super Suite (BOSS), which allows business owners and Etiqa's agents to get commercial insurance coverage easily and conveniently in a straight-through purchase journey, marking yet another FinTech solution in Singapore's commercial insurance sector.  

In recent years, studies have found that SMEs remain underinsured, or non-insured, and in need of proper risk management plans. Taking into considerations that cost is one of the main concerns, Etiqa's new BOSS packages are designed to be affordable and easily accessible to time-strapped business owners.

"There is no one-size-fits-all solution, but the data-driven BOSS packages are specially tailored to cater to the needs of SMEs of various trades. Business owners and their agents can easily refer to the standard package in their trade, and make adjustments according to their business status," said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore.

No stranger to digital disruptions in insurance, Etiqa is leveraging on enhanced technology and connectivity to gauge risks and offer direct, tailored business coverage on its website while keeping operation costs at minimal. Sue added, "Purchasing business insurance typically involves much paperwork, which is often processed offline. With BOSS and our new online purchase option, customers can save time, enjoy better convenience and savings."

Split across six categories, BOSS by Etiqa Insurance caters to SMEs of various trades such as office, retail, light industries, personal services, among others. Business owners have the flexibility to choose between standard plan or super suites, for coverage that includes all risks, business interruption, money, personal accidents, public liability, work injury compensation, goods in transit and optional covers.

For more information, please visit: http://po.st/BossbyEtiqa

Etiqa Insurance -- A Singapore Insurance Company with Asian and International Expertise

Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.  

Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.

At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow.