Aviva and homegrown Singapore Life are merging to become one of Southeast Asia’s biggest insurance players, Aviva Singlife.
In a recent media interview, Group CEO Pearlyn Phau explained why the merger of Aviva, one of Singapore’s biggest insurers, and digital innovator Singlife is good for clients and the broader community.
"Aviva Singlife will be a unique national champion. Singlife is a technology-led, mobile-only InsureTech that is very agile and innovative, but may lack the scale or all the products that a customer requires. Aviva is a long-established Singapore insurer with many customers and a comprehensive suite of products, on the cusp of a transformation. In merging the two, we are disrupting and transforming a traditional insurer by adopting Singlife’s digital-first mindset and technology platform. It’s the best of both worlds.”
Pearlyn added, “We want to be a homegrown brand that is digitally enabled and can connect the dots for policyholders. Our new identity will help us realize our transformation into an omnipresent, digitally enabled, national champion in financial services for Singapore’s population.”
Read more here: Aviva Singlife combines the best of both worlds