Great Eastern Partners with Singapore Telecom for Flexible Home Insurance

20 Sep, 2023

Great Eastern Partners with Singapore Telecom for Flexible Home Insurance

Great Eastern has partnered with Singapore's telecom giant, Singtel, to introduce an innovative home and contents insurance solution, named the Singtel Home Protect Flexi. This offering builds upon Singtel's existing home insurance product, Singtel Home Protect, which traditionally required customers to commit to one or two-year coverage plans. To be eligible for Singtel Home Protect Flexi, customers must maintain an active Singtel broadband subscription.

Singtel Home Protect Flexi is priced at just SG$8 per month, providing homeowners with comprehensive coverage that extends to various types of residential properties. The coverage encompasses up to SG$80,000 for household contents and renovations, as well as up to SG$500,000 for personal liability.

One unique feature of this insurance plan is its seamless integration with the customer's Singtel broadband subscription. In the event of a customer's relocation, the plan will automatically update the insured address. Additionally, Singtel Home Protect Flexi offers a no-contract arrangement, allowing policyholders the flexibility to cancel at any time if they find themselves no longer in need of coverage.

Jimmy Tong, the Managing Director of Great Eastern General and Group Insurance, highlighted the benefits of this collaboration: "Our new plan in collaboration with Singtel provides ease of portability and uninterrupted coverage for homeowners in the event they re-locate or allows for termination at any time with no lock-in period. By eliminating these traditional constraints, we are able to provide greater flexibility and value for our customers."

In other developments within the country, Prudential has taken steps to streamline its operations by shutting down its Singapore wealth management arm.