Singlife

Singlife, founded in 2014, offers technology-enabled insurance solutions for consumers through their online platform. The venture provides a range of life and health policies for individuals and their families, as well as other personal lines. On top of their suite of insurance plans, Singlife offers investment solutions through its dollarDEX and Navigator platforms. The mobile-first Singlife Account – with a Singlife Debit Card – allows customers to save, spend, earn and be insured all in one app.

The company also offers MyCare and MyCarePlus, which can be used to help with long-term care options alongside Singapore's nationwide opt-in scheme ElderShield.

The venture, which gained its direct life insurer license from MAS, has also created an opt-in “Stay Active” program, which syncs to a customer’s health monitoring devices (such as fitness trackers and pedometers). The data collected is used to track customer fitness levels, and enables the most active amongst them to earn cash-back on their policies. CEO Walter de Oude (formerly CEO of HSBC Insurance Singapore) has previously stated that offering customers incentives on future behaviour, rather than punishing them for past behaviour or pre-existing health conditions, was an important strategy for the venture.

In January 2018 it was announced that Singlife was acquiring the business portfolio of Zurich Life Singapore, totalling approximately $6bn of coverage for life, critical illness and disability benefits. In August that same year, the insurer launched SingBot, a new AI-powered chatbot available via Facebook messenger that guides customers through the insurance-purchasing process. Finally, in 2019, Singlife bolstered its core insurance business by acquiring Canvas, later launching a prepaid Visa card that allows parents to decide the amount of pocket money to assign their children via the Canvas platform.

In July 2019, Singlife secured a US$90 Million investment from Sumitomo Life, who joined Impact Capital Holdings, Aflac, Standard Aberdeen, and Ion Pacific on Singapore Life's growing list of investors. As a result of the $90m investment, Sumito Life now own around 25% of Singlife.

In September 2020 it was revealed that Singlife would merge with Aviva Singapore, becoming Aviva Singlife with a combined business value of S$3.2bn. It is reportedly Singapore's largest insurance deal.

In November 2020, Blockchain platform Galileo Platforms, insurer Singlife Philippines and e-wallet GCash launched a new platform for life insurance products in the Philippines. It aims to leverage Galileo's scalable blockchain technology to better reach the underserved.

In May 2021 Singlife announced it had appointed Pearlyn Phau Yee Meng as Group CEO. Acting Group CEO Walter de Oude will becoming Deputy Chair.

Singlife at the start of 2022 announced the acquisition of Aviva Singapore had been completed. 

In July 2022 Singlife has launched a collaboration project, A Better Odyssey, with the likes of Google, Grab for Business and more, to help SMEs in Singapore scale up operations. It will offer free credits, preferential pricing and networking opportunities, as well as group personal accident cover.

During January 2023 Singlife launched a new insurtech accelerator program, called Singlife Connect. The 8 startups accepted onto the Singapore-based accelerator gained access to regulatory and compliance support, mentorship, as well as access to Singlife's product suite and insurance verticals. The company also announced it would henceforth be known as Singlife, as opposed to Singlife with Aviva. 

July 2023 saw Singlife collaborate with Microsoft to identify start-ups in the Asean region for Singlife Connect Plus (SCP) programme, an advanced version of the Singlife Connect (SC) accelerator and venture-building programme.  It will support eight insurtech start-ups and provide regulatory and compliance backing to execute their go-to-market strategies.

At the end of 2023, it was announced Singlife was to be acquired by Sumitomo Life.