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Insurance Market and My-Insurer, 2 of Singapore's premier fintech companies, are teaming up

2019-08-26 15:10 1675

SINGAPORE, Aug. 26, 2019 /PRNewswire/ -- The activities of Singapore online broker and comparison site, Insurance Market, will be complemented with My-Insurer's life insurance business line, to be named Insurance Market Life.

Insurance Market Life will house independent Financial Advisors that are free and truly independent from insurers. IM Life will provide the infrastructure, licensed environment and dispense innovative added services thanks to its digitized processes.

The independent FA's will have all the digital tools to facilitate lead generation and support a robust operating environment to on-board and service policyholders. Also customers can expect high services levels supported by state of the art digital tooling.

"Insurance is maturing", Matthias de Ferrieres, CEO of My-Insurer, says. "We have found that for simple products it is efficient to use an online market place. However, to explain health and life insurance, education and personalized advice through face to face engagement is still what many customers are looking for. So, we provide both."

"The future of insurance is to provide an optimal way of distributing products. One that focuses on quality of service and the desire to bring the focus back onto the customer through a mix of digitisation and the traditional advisory approach," adds Otbert de Jong, CEO of Insurance Market.

Matthias will lead the new business unit. "Complex insurance is relational and not transactional. We believe insurance advisory is and will remain mainly done face to face. Our platform will support that vision. We will make easy for advisors to prospect, analyse, understand and transact with their customers. By being part of our team, Advisors will have the opportunity to advise their clients better and easier without the pressure of having to reach production targets. "

"We both want to improve the insurance process and for that we need to scale and work in partnership and benefit from each other's expertise," says Otbert. "There is a need to change the way we distribute insurance and enhance the perception of the industry. With Insurance Market Life, we believe we can make a difference and use the full power of automation without losing the necessary human advisory touch."

Insurance Market Pte Ltd is a fully licensed insurance broker.
https://insurancemarket.sg/

My-Insurer Pte Ltd is a SaaS platform for Financial Advisors.
http://www.my-insurer.net/

Source: Insurance Market
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