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Singtel and Great Eastern offer general insurance products with telco-related benefits

By Ken Wong - on 27 Aug 2020, 11:03am

Singtel and Great Eastern offer general insurance products with telco-related benefits

In another sign of cooperation between industries, Singtel and insurance company Great Eastern have announced a partnership to launch a range of general insurance products for their mutual customers.

These insurance offerings that will be underwritten by Great Eastern will span home, motor and travel insurance policies that will be jointly developed by both companies.

One of the first policies is Singtel Home Protect, a home insurance first that provides coverage for both telco bills and home contents. The plan reimburses Singtel broadband expenses in the event of a fire or other damage to the home. The Premiums payable for this coverage are S$84 for 12-months coverage and S$156 for 24-months coverage.

The following table shows the insurance benefit details of Singtel Home Protect at a glance:

Summary of benefits

Sum insured up to

Section 1 Fire and insured perils

Home contents, valuables and personal effects

S$40,000

Renovation including fixtures and fittings

S$40,000

Replacement of legal document

S$300

Section 2 Personal liability

S$500,000

Section 3 Family personal accident (at home)

Per person S$10,000

Up to S$50,000 per household

Section 4 Home improvement

S$500

Section 5 Singtel Bill Protection

Reimbursement of Monthly Singtel Bill arising from Insured’s Accidental Death or Total Permanent Disablement in Singapore

Per month S$80

Up to 12 months

Reimbursement of Monthly Singtel Bill arising from disruption to Singtel services at home due to Insured Perils

Per month S$280

Up to 3 months

Section 6: Home Assistance Services (arise from trigger events)

Per event S$120

Up to 2 events per policy period

 

In the coming weeks, Singtel and Great Eastern will also be offering motor insurance and travel insurance (once the Covid-19 travel restrictions are lifted), that also have mobile-related benefits. This could include benefits like the reimbursement of a Singtel mobile bill during hospitalisation due to an accident, and of additional Singtel mobile data expenses incurred due to delays in travel, as well as repair or replacement of mobile phone in case of loss.

 

Not a first for Singtel

This isn’t Singtel’s first foray into insurance for subscribers, nor is it their first collaboration with Great Eastern.

2019 saw the two collaborate to enable Singtel customers direct purchases of Great Eastern’s travel insurance solutions via Singtel Dash mobile wallet. Great Eastern also supported Singtel’s PVP Esports Community League.

Singtel has also worked with other insurance companies such as in July 2019, when they partnered with AIA to launch StepUp, a “wellness platform” that allowed Singtel postpaid customers on the My Singtel app to earn local mobile data, and lifestyle rewards from AIA and other partners.