Etiqa Launches First-ever Free In-flight Insurance for Singapore Travellers

• The first free in-flight insurance that includes up to S$50,000 in personal accident coverage
• Provides coverage upon three hours flight delay with an add-on of just S$4, across all flights 
• Allows instantaneous travel claims encashment via PayNow 


Etiqa, Singapore’s leading online insurer, launched Singapore’s first free in-flight insurance service for travellers, bringing them peace of mind while on vacation. It also introduced a flight delay add-on – for just S$4, travellers can receive benefits upon a flight delay of just 3 consecutive hours, less than half the industry average of 6 to 12 hours. 

Eligible for all Singapore Outbound Travellers , the free in-flight insurance solution includes up to S$50,000 in personal accident (inflight accidental death) coverage. In addition, the flight-delay top-up, allows travellers to claim up to S$300 for flight delay . This complements Etiqa’s existing ePROTECT travel policy coverage, which currently also include coverage for both in-flight and flight delays, customers will receive coverage across all airlines and flights.

“According to a survey conducted by the Singapore Tourism Board, about 10% of consumers have never purchased travel insurance despite being aware of the importance of a policy,” said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore. “With our extended service offering of a free inflight insurance service, we hope to educate travellers on the value and importance of travel insurance coverage, encouraging them to consider protecting themselves - even when the cost is kept to a minimum, or absolutely free.”

According to FlightStats, 20,671 flights were cancelled and 177,352 delayed in Asia-Pacific alone during a 30 day period from 10 February to 12 March 2018. Globally, this number rises to over 60,000 flights cancelled, and over 630,000 flights delayed during the same period.  Last year, Etiqa processed more than 1,500 travel claims within one day following the launch of its straight-through claims processes in July 2017 – Out of which 17% were processed due to travel delays. A real-time flight monitoring system was also implemented at the same time to enable auto-flight delay claims for its customers. 

From now till 31 March 2018, travellers can simply apply for the free inflight

AIG Singapore is the first in the general insurance industry to launch claims payment via PayNow

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore)’s customers can now submit travel insurance claims online and request to receive the insurance claims payment via PayNow.

PayNow is an electronic fund transfer service available to customers of any of the seven participating banks: Citibank Singapore Limited, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, and United Overseas Bank. 

AIG Singapore’s travel insurance policyholders can now receive travel claims payout by simply providing their PayNow registered mobile number or NRIC/FIN number for the funds to be transferred to their account with these participating banks.

AIG Singapore is the first insurer to enable claims payment through PayNow on an enterprise to individual platform via DBS Bank (DBS) through IDEAL RAPID, a market-shaping application programming interface (API)-based instant settlement solution. Customers can now receive travel claims almost instantaneously upon the claims being approved.

Ms Cady Ho, AIG Singapore’s Vice President, Chief Claims and Customer Officer, said, “PayNow is a very convenient payment platform that will benefit almost 30,000 of AIG Singapore’s travel policyholders. We have plans to progressively roll out this claims payment service to our other products so that more customers can benefit from the convenience of faster claims payment and seamless claims experience.”

Mr Benjamin Yeo, DBS Managing Director and Head of Insurance Coverage, said that PayNow brings the promise of digitalisation to customers. “Policyholders can now benefit from a simpler, faster and more convenient claims process. In today’s “instant” economy, customers also don’t have to deal with the extra step of providing their bank account details, or banking in their cheques and then waiting for them to be cleared. Instead, they can now receive their claims immediately upon approval. We are pleased to support the industry’s forward-looking efforts in enhancing customer experience.”

Ms Claudia Salem, CEO of AIG Singapore and Head of Country Operations Southeast Asia said, “Sending money electronically instead of issuing paper cheques is a tablestakes capability in this day and age. This enhancement is one of many, as part of AIG Singapore’s prioritised roadmap in modernising our insurance services. The launch of the PayNow service for claims payments not only improves customer convenience but also aligns with our sustainability agenda to reduce AIG’s carbon footprint.”

Today, most of AIG Singapore’s personal insurance products and claims services are available online, and by 2020, they estimate that half a million personal insurance policies will be transacted electronically1. Paying claims electronically allows customers to enjoy seamless digital insurance experience which is expected to be the future of the industry for most consumer general insurance products.

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AIG SINGAPORE LAUNCHES NEW ONLINE TRAVEL INSURANCE

AIG SINGAPORE LAUNCHES NEW ONLINE TRAVEL INSURANCE BACKED BY DATA AND CUSTOMER INSIGHTS

Direct platform provides real-time claims data and recommends insurance policy that most suits customer needs

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched a new online travel insurance product – Travel Guard® Direct – that leverages data to provide customers with valuable insights on their destination countries.

The product is the first in Singapore to allow customers access to real-time claims information for top destination countries across Asia Pacific, the United States and United Kingdom, so that customers can better understand travel risks, and make informed choices about the level of coverage they need.

An innovation of the standard Travel Guard plans, the new product is priced according to destination, duration and age, so customers can benefit from more accurate, effective pricing based on the risks involved. This also simplifies the travel insurance purchase experience as customers can now select a plan by travel destination, instead of figuring out which zone their destination belongs to.

This product is the latest in AIG Singapore’s initiatives to digitise the customer journey from purchase to claims, bringing greater efficiency and convenience. This follows a tie-up with DBS to offer instant travel insurance claims e-payment.

Mr Ignatius Chng, Vice-President and Head of Group Personal Insurance, AIG Singapore, said Travel Guard Direct was developed with a more customer-centric experience in mind and is part of the company’s ongoing digital transformation efforts to use technology to meet changing customer needs.

Great Eastern Singapore travel insurance promotion

Great Eastern Singapore is offering 52% OFF its travel insurance!
Enter campaign code GENS50 to enjoy the exclusive promotion today!

In celebration of NS50, Singapore and Great Eastern’s birthday this August, enjoy 52% OFF Travel E@sy.

• 52% discount on Travel E@sy travel insurance is applicable to Single Trip only.
• This Promotion is from 28 July to 31 August 2017 and is not valid with any other vouchers, promotions or discounts.

Great Eastern NS50 travel insurance promotion

Travel E@sy offers comprehensive travel insurance at an affordable price. Enjoy a stress-free adventure with your family and friends, with premiums from just S$26. 

Looking for hassle-free travel insurance online with fast travel insurance claim payout?

If you are looking for online travel insurance and speedy travel insurance payout in Singapore, then the travel insurance provided by MSIG Insurance and DBS Bank may just be the one for you.

MSIG Insurance and DBS Bank have launched the lion city's first "instant" electronic payment service for travel insurance claims!

Instead of having to wait for days for a cheque to be cleared, the travel insurance poliyholders who successfully submit a claim will be able to get their

NATAS names AIG as its official travel insurance partner until 2019

AIG Asia Pacific Insurance Pte Ltd (‘AIG Singapore’) has been named as the official travel insurance partner of the National Association of Travel Agents Singapore (NATAS) until 2019.

The partnership will see NATAS and AIG Singapore collaborate by offering special prices and perks for the purchase of travel insurance at NATAS travel fairs, delivering travel education initiatives to consumers and providing preferential travel insurance deals to NATAS-registered travel agents. It is NATAS’ third renewal of its partnership with AIG Singapore.

Over the last five years, AIG Singapore has seen year-on-year double-digit growth in the number of policies issued and premiums collected at the biannual NATAS travel fairs, which demonstrates the success of the partnership.

“We are thrilled to continue our involvement with NATAS as its official travel insurance partner,” said Mr Matt Harris, Chief Executive of AIG Singapore.

“We have been NATAS’ preferred travel insurer since 2008, which highlights the strength of our Travel Guard product that has been tailored to meet our customers’ needs. The comprehensive coverage offered by Travel Guard brings peace of mind for our travellers, which covers unexpected emergency situations that are often costly or inconvenient, such as medical evacuations and expenses.”

Travel tips on ways to beat 3 common travel mishaps

Here's ACE Insurance's travel tips on ways to beat 3 common travel mishaps.

What are the top 3 travel mishaps faced by travellers from Singapore?

TRAVEL MISHAP 1: FLIGHT DELAYS

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Sadly there’s not much you can do to avoid flight delays since the cause tends to be out of your hands. But you can still make the most of an unfortunate situation. First, check the flight status before you set off. If you know it’s delayed ahead of time you can spend your time more productively than hanging around at the airport.

If you’re already at the airport when you learn of the delay, make sure you get the airline representative to explain to you exactly what is happening. You’re often entitled to food and accommodation depending on the length of the delay, so make sure you understand your options.

If you’re planning to make a claim for the delay with your travel insurer, you will probably need a document from the airline confirming the flight number, the length of the delay and the reason. It pays to keep a copy of your travel insurance policy with you or to have the contact number handy so you can check what you’ll need on the spot.

What are the top 3 travel mishaps faced by travellers from Singapore?

ACE’s travel survey reveals top 3 travel mishaps

·      78% of the Singapore respondents have experienced a travel mishap

·      Nearly one in four Singapore respondents have regretted not buying travel insurance for their leisure travel

·      70% of younger consumers (aged below 30) buy their travel insurance online

In a travel survey conducted by ACE Insurance Limited (ACE) in the last quarter of 2014, a major finding revealed that 78% of the respondents had experienced a travel mishap during their holidays. The top three travel mishaps experienced are as follows:

1.      Flight delays (54%)

2.      Falling ill (39%)

3.      Loss of baggage (19%)

Top on the list of the biggest worries while on holiday included being injured in an accident (24%), falling ill (23%) and having valuables or travel documents stolen (15%). However, they were least concerned about political uncertainty and terrorism, with just nine per cent listing it as their most pressing concern.

Does travel insurance cover activities such as such as water sports, winter-sports or others such as bungee-jumping, indoor climbing, or going on a hot air balloon?

Going on an adventure-filled and action-packed holiday? Bought your travel insurance and you are all good to go?

Not quite.

Travel insurance policies typically come with exclusions stating that they do not cover "dangerous activities" such as bungee jumping and water sports. So what can you do if you plan to engage in exciting activities such as such as water sports, winter-sports or others such as bungee-jumping, indoor climbing, or going on a hot air balloon?

Here's what Allianz suggests:

"Individuals who are planning for an adventurous or action-packed holidays such as water sports, winter-sports or others such as bungee-jumping, indoor climbing, or going on a hot air balloon can be covered as well with an additional premium paid which also provides some coverage to sporting equipments."

More travel insurance tips and points to note from Allianz:

What types of travel insurance are there?

Other than travel insurance of different sum assured and coverage from different general insurance companies that sell them, you may be interested to know that there different types and categories of travel insurance. 

Travel Insurance Providers in Singapore

Looking for a list of non-life insurance companies or general insurance companies providing travel insurance in Singapore?

For those looking to purchase travel insurance and wish to have a list of the companies with contact numbers and websites to check out the insurance cover and premiums, here is the list provided by the General Insurance Association of Singapore.