With effect from 1 January 2023, the company formally incorporated and known as Singlife with Aviva, will be known as Singlife.
In a statement on 29 December, Singlife said it was a natural part of the progression of the new company formed by the merger between insurtech start-up Singlife and Aviva Singapore on 1 January 2022.
The change will help cement the company as a Singapore-grown company and build its brand as one born in Singapore with regional ambitions, the company further said, adding that there would be no disruption to its services and commitment to customers in Singapore.
"All policies and financial advisers will remain unchanged, with the exception of procedural and legal references to the updated brand name and logo in the future", the statement added.
In a separate development, Singlife also announced that it had been appointed the official insurer for Singapore's Ministry of Defence (MINDEF) and Ministry of Home Affairs (MHA) Group Insurance Scheme. It will provide life and personal accident insurance coverage for all MINDEF and MHA personnel.
Singlife assumed the portfolio previously held by Aviva Singapore and won the tender to provide core insurance coverage for all in-service personnel, NSmen and NS volunteers. It will extend a voluntary insurance scheme to all eligible MINDEF and MHA personnel as well as to their dependents.
Key enhancements include the doubling of cover for the Group Term Life (GTL) and Group Personal Accident (GPA) policies of the core scheme from S$150,000 to S$300,000 each. The GPA will also be renamed as the Group Personal Injury (GPI) policy and enhanced to more comprehensively cover conditions that are specific to MINDEF and MHA's operating environment, such as noise-induced hearing damage or decompression sickness. This cover is provided by MINDEF and MHA for all in-service personnel.
Under the voluntary scheme, which is available for all personnel to purchase on their own, there is also an increase in coverage for the GPI policy. Servicemen can now be covered for a maximum of S$1 million, up from the current maximum of S$600,000. They can also continue to purchase up to S$1 million coverage under the GTL policy.
On top of that, Singlife is lowering rider premiums and enhancing coverage for all insured members. There are also extensive benefits for service personnel, including up to 57% discount and savings on a variety of motor, travel and home insurance policies, a dedicated customer service hotline, dedicated claims team and additional value-added services from Singlife's partner ecosystem.
Pearlyn Phau, group chief executive, Singlife said: "We are extremely honoured to have been chosen as the protector of those who protect us. Our relationship with MINDEF and MHA is now four decades long, and it's one we are truly committed to. I say this as a Singaporean, the wife of a man who has done his duty to the nation, and a mother to a young man who will do so.
"It gives me great pride and satisfaction to know that all our people, processes and principles are aligned to deliver not only the very best value and utmost protection to our men and women in uniform, but that we are trusted to do so with empathy and compassion."
In tandem with the 55th anniversary of National Service, the Singlife App now offers exclusive MINDEF and MHA rewards and tailored promotions for service personnel. They can also access a new digital ecosystem that includes various product features such as partner discounts, budget and goal setting, mental wellness consultations, investment accounts and financial literacy programmes.
Singlife, formed in January 2022 through the merger of Aviva Singapore and Singlife, is a newly incorporated entity but it highlighted its long history of commitment to those who serve the nation.
