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SINGAPORE, April 27, 2021 /PRNewswire/ -- MSIG Insurance ("MSIG") and Singapore Cancer Society ("SCS") today announced a 3-year collaboration to advance public awareness on cancer risks.
"Cancer is expected to become more common as life expectancy increases. By collaborating with the Singapore Cancer Society, we hope to engage our stakeholders on the topic of proactive health management in minimising cancer risks. Given that the average Singaporean is covered for only 20 percent of their financial needs when critical illness occurs[1], educational programmes on cancer prevention will further complement our existing insurance solutions and allow us to contribute positively to the overall cancer control efforts in Singapore," said Mr. Steven Leong, Senior Vice-President, Consumer and Digital Distribution, MSIG Singapore.
He added further, "In the last 6 months, we have also seen a 50% increase in the sales of our CancerCare Plus plan, which provides $100,000 coverage for all stages of cancer. This suggests that more Singaporeans are finding importance in taking better control of their health and their financial needs."
To empower more people to take actions regarding their health, MSIG has pledged to donate $10 for every CancerCare Plus policy sold. This donation will go towards supporting SCS' cancer programmes and patient care services.
According to a 2018 annual report by the Singapore Cancer Registry, the median age at diagnosis for cancer had risen for both genders from 2014 to 2018[2]. This is a result of an increase in life expectancy over the years as more individuals are expected to survive past their 80s, when age-specific incidence rate of cancer is at its highest.
In Singapore, 1 in 4 people may develop cancer at some point during their lifetimes[3].
Cancer remains the biggest killer and claims more than 5,600 lives annually in Singapore, with the mortality rate higher among men than in women (96.5 per 100,000 men and 66.5 per 100,000 women). The top three leading causes of cancer death in men were lung, colorectal and liver, while breast, lung and colorectal cancers were the leading causes of cancer mortality in women.
As part of the collaboration, MSIG and SCS will roll out virtual seminars tailored for different target audiences to educate them on the commonly-diagnosed cancers affecting Singaporeans.
"As SCS strives to ensure that holistic support is rendered to help patients cope during their cancer journey, the fight against cancer involves all sectors of society and the community. We are heartened that corporates like MSIG have stepped up to support us in our efforts to minimise the impact of cancer in Singapore. We believe corporate partners can play a greater role in upscaling our cancer outreach programmes and drive awareness of SCS' work for the cancer community. With rising cancer incidence and more cancer survivors in Singapore, we are also appreciative of MSIG's fundraising efforts that will support SCS' programmes and services for the vulnerable and financially needy cancer patients," said Mr. Albert Ching, Chief Executive Officer, Singapore Cancer Society.
[1] Life Insurance Association 2017 Protection Gap Study https://www.lia.org.sg/media/1700/slides-on-key-findings.pdf |
[2] Singapore Cancer Registry Annual Report 2018 https://www.nrdo.gov.sg/docs/librariesprovider3/default-document-library/scr-annual-report-2018.pdf?sfvrsn=bcf56c25_0 |
[3] Singapore Cancer Society website https://www.singaporecancersociety.org.sg/learn-about-cancer/cancer-basics/common-types-of-cancer-in-singapore.html |
About MSIG Insurance ("MSIG Singapore")
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.
A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. It was named Asia's Most Transformative Insurer (2019) by the IDC Financial Insights and The Digital Insurer of the Year (2018) by The Asset, an independent financial research publication in Asia.
MSIG Singapore is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 46 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, mainland China, Hong Kong, Taiwan, Korea and India. Headquartered in Japan, MS&AD is ranked 5th* among non-life insurance groups in the world based on gross revenue.
* 2020 Fortune Global 500, Property & Casualty Insurance Category
About Singapore Cancer Society ("SCS")
Established in 1964, Singapore Cancer Society is a self-funded voluntary welfare organisation which provides patient care services to needy cancer patients through its welfare, hospice home care, cancer treatment subsidy and rehabilitation support programmes. In addition, the Society also provides free cancer screening services and promotes cancer awareness and prevention through its public education and community outreach programmes.
For more information and media enquiries, please contact:
Carole Chow
AVP, Branding & Corporate Communications
MSIG Insurance (Singapore) Pte. Ltd.
D: +65 6827 7686
E: carole_chow@sg.msig-asia.com
Kumudha Panneerchelvam (Ms.)
Corporate Affairs Senior Executive
Singapore Cancer Society
D: +65 6436 5237
E: kumudha_p@singaporecancersociety.org.sg
