Singlife Partners IHH Healthcare Singapore to Enhance Healthcare Coverage Solutions

Leading homegrown financial services company Singlife, today announces its partnership with IHH Healthcare Singapore (“IHHSG"), the largest private integrated healthcare provider in Southeast Asia. Its extensive network includes trusted brands such as Gleneagles Hospital, Mount Elizabeth Hospitals and Parkway East Hospital. This collaboration aims to address the need for effective healthcare cost management while enhancing the overall customer experience, offering Singlife policyholders affordable, personalised, and trusted healthcare solutions in Singapore.

Rising healthcare costs have become a significant focus on Singapore's national agenda. Government health expenditure tripled between 2010 and 2020, and it is expected to triple again in the following decade^[1]. In response to this challenge, the partnership between Singlife and IHHSG introduces an innovative collaboration between an insurer and a medical provider, with a focus on driving greater affordability and medical cost control.

Starting from 9 September 2023, Singlife Shield and Singlife Health Plus policyholders will enjoy an expanded range of benefits. They will have direct access to IHHSG’s extensive network of hospitals and specialist clinics without the need for prior authorisation from their insurer for in-patient care. This network comprises over 500 accredited medical specialists across various disciplines, managed by iXchange – the Third-Party Administrator of IHHSG, providing quaternary care, as well as complementary ancillary services. This new approach ensures a simplified, hassle-free and cashless admission process when seeking medical treatment, enabling policyholders to focus on their recovery with peace of mind.

Beyond in-patient hospitalisations, the Singlife and IHHSG partnership extends to multiple aspects of a patient's medical journey. Singlife will include Parkway Cancer Centre as its latest preferred medical provider for Singlife Cancer Cover Plus, following the inclusion of Icon Cancer Centre in December 2022^[2]. This expansion ensures that policyholders receive greater assurance and experience a seamless recovery journey in the event they require cancer treatment.

Richard Vargo, Group Head of Products, Propositions and Transformation, Singlife shared: "At Singlife, we are committed to ensuring quality healthcare remains accessible to all, regardless of financial circumstances. This partnership is an important step towards creating a sustainable healthcare ecosystem that focuses on the needs of the patients, and we are thrilled that IHH Healthcare Singapore has chosen Singlife as its strategic insurer partner for Shield policyholders. This move not only aligns with our vision of affordable excellence but also empowers us to provide our policyholders with a comprehensive range of outstanding medical services crucial for their treatment.”

Dr Prem Kumar Nair, Chief Executive Officer, IHH Healthcare Singapore said: "As the largest private healthcare provider in Singapore, operating over 1,000 beds across 4 multiple award-winning hospitals, our extensive network of hospitals and primary care clinics will provide Singlife policyholders unparalleled access to a comprehensive range of world-class medical services. Supported by iXchange with its expertise in panel network management and claims adjudication, we are poised to leverage our expertise and share our strengths and resources globally – an endeavour that aims to elevate healthcare by making it more accessible, efficient and sustainable for all our valued patients."

As one of the seven licensed insurers, Singlife places a strong emphasis on Integrated Shield Plans (IPs) coverage, providing its policyholders with comprehensive hospitalisation support. This commitment to simplifying and streamlining the hospitalisation experience underscores its dedication to easing customer stress and ensuring peace of mind. A recent testament is the introduction of Singlife Shield Starter, the first digital-only Shield insurance policy in Singapore, offering a basic coverage of S$20,000 per policy year for S$1 cash payment annually for the plan’s accompanying rider^[3].

[1] Singapore must ensure healthcare fiscal burden does not spiral out of control: Ong Ye Kung

[2] Singlife To Provide More Affordable and Accessible Cancer Treatment with Icon Cancer Centre

[3] Singlife Launches Affordable First-in-Market Singlife Shield Starter with S$1 Rider