SINGAPORE – Media OutReach – May 6, 2021 – Today, AMBER is launched by Etiqa (“AMBER”), a retirement ecosystem of Etiqa Insurance Singapore. The new platform 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 pension study1 carried out by Etiqa in collaboration with YouGov in October 2020 revealed inadequacies in the pension planning landscape, particularly with regard to the guidelines for pension planning. 3 in 10 Singaporeans are unsure how to get started and solutions only 3 in 10 of whom are confident about CPF payouts can keep their lifestyle going in retirement. Similarly, only 3 in 10 believed that CPF payouts were enough to cover the potential medical costs of aging.
As the lives of the aging local population elongate and the demand for retirement services continues to grow, AMBER aims to educate customers about the importance and process of planning retirement, as well as providing viable methods of funding a longer, more active, and more fulfilling age.
Etiqa’s current retirement provision offers include ePREMIER retirement, a retirement plan that offers a guaranteed monthly retirement income as well as the freedom to choose the preferred retirement age and premium period. The policyholder enjoys protection for the entire term of the contract. Another soon-to-be-launched Etiqa product offers insurance coverage for age-related illnesses and flexible retirement income options for policyholders.
The AMBER ecosystem, in turn, addresses the physical and mental health aspects of aging and offers a range of retirement-related information and services to add value to the lives of pre-retirees and retirees. Etiqa’s Retirement Survey1 uncovered three pressing retirement needs of people in Singapore: staying emotionally healthy and mentally able (98% agree), being physically healthy (98%), and being less dependent on others (97%).
Under the motto of the organization “Humanizing Insurance”, AMBER is responding to these demands with Amber Adviser, a suitable service that connects customers with available local service providers based on their individual needs, from nursing homes to nursing and care to professional Services such as physiotherapy and dental care. AMBER members receive membership rates for all services booked through the platform.
AMBER also offers an itinerary with a variety of curated activities, including craft workshops, as well as yoga and fitness. While creative workshops help stimulate the mind, exercise helps strengthen and condition the body, a potentially preventative measure against the physical discomfort that comes with age. Participation in group activities encourages social interaction, which can promote emotional and mental wellbeing. Member rates are available for all curated activities.
In addition to these benefits, AMBER members get 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.
Mr. Raymond Ong, CEO of Etiqa Insurance Singapore, said: “Etiqa believes it supports and empowers our customers to build the future they deserve. Etiqa’s AMBER aims to help Singapore’s early retirees fill the gaps in their retirement plans and to provide access to solutions for a happier and healthier retirement. “
Ms. Jess Tan, Chief Distribution Officer, adds: “AMBER is a new platform, but the intentions behind it are certainly not. Etiqa has always been about more than just insurance. With this new channel we can tailor finance and lifestyle – Offer solutions for our customers more effectively. “
As part of the launch campaign, the first 150 customers who register between May 6 and July 31, 2021 will receive free credits of S $ 100 for AMBER Retirement Ecosystem services and Etiqa eWallet credits of S $ 50 when purchasing the Etiqa retirement plan. Terms and conditions apply. You can find more information about this promotion here.
Better mornings start today with AMBER from Etiqa. Further information can be found in the AMBER Retirement Ecosystem at www.etiqa.com.sg/amber.
Conditions apply. Protected by SDIC up to specified limits.
1Etiqa’s retirement study was conducted October 15-19, 2020 by YouGov to interview non-retirees in Singapore. The sample is based on the national representation of Singapore. The final sample size is 1,235, of which 1,158 are non-retirees.
About Etiqa Insurance Pte. GmbH. (Etiqa Singapore)
Protecting clients since 1961, Etiqa Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and subject to Insurance Act.
The local insurer is the Singapore-based unit of the Etiqa Insurance Group – a leading insurance and takaful company in ASEAN that provides life, general and family insurance through its agents, branches, offices and the bancassurance network in the region. and general takaful products. Etiqa is rated ‘A’ by the rating agency Fitch for the favorable business profile and the very strong capitalization of the group.
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, the fourth largest banking group in Southeast Asia, and 31% owned by Ageas, an international insurance group with a presence in 16 countries and a tradition spanning over 190 years.
#EtiqaInsurance #EtiqaS Singapore
Read More Now