We take a look at what different types of insurance products exist in the market and narrow it down to what an average person will very likely need to be considering regardless of his or her situation.
Earlier this month, the Monetary Authority of Singapore (MAS) announced that a web aggregator would be launched in April that will enable Singaporeans to start comparing and purchasing basic insurance products online.
This good, and long overdue, move is likely to be the first in a major shift toward realigning the industry from one that has primarily been seen as heavily reliant on personal selling from insurance agents, to one where more effort is spent on educating the people about the importance of identifying and purchasing the right kinds of insurance policies that are most suited to themselves.
We shared our views previously on how we believe buying insurance online will be the next big thing in Singapore.
Of course, one key step toward achieving that will be for Singaporeans to first understand the various types of insurance products out there, and what they actually need for themselves given the particular phase in life they are in or individual lifestyles they lead. Ultimately, having a web aggregator will be useless if individuals here are unable to understand the various products that he or she should be considering.
We take a look at what different types of insurance products exist in the market and narrow it down to what an average person will very likely need to be considering regardless of his or her situation.
Earlier this month, the Monetary Authority of Singapore (MAS) announced that a web aggregator would be launched in April that will enable Singaporeans to start comparing and purchasing basic insurance products online.
This good, and long overdue, move is likely to be the first in a major shift toward realigning the industry from one that has primarily been seen as heavily reliant on personal selling from insurance agents, to one where more effort is spent on educating the people about the importance of identifying and purchasing the right kinds of insurance policies that are most suited to themselves.
We shared our views previously on how we believe buying insurance online will be the next big thing in Singapore.
Of course, one key step toward achieving that will be for Singaporeans to first understand the various types of insurance products out there, and what they actually need for themselves given the particular phase in life they are in or individual lifestyles they lead. Ultimately, having a web aggregator will be useless if individuals here are unable to understand the various products that he or she should be considering.