The Monetary Authority of Singapore (MAS) approved Singapore Life as the newest fully licensed direct life insurer. They also became the first local insurer, without foreign partners, to receive licensing since 1970.
In April 2017, Singapore Life raised US$50 million (S$69 million) – the largest ever by a Singapore-based InsurTech company – in its series A funding round. It had the support of international shareholders Credit China FinTech Holdings and IPGL. It also partnered two leading reinsurers Munich Re Group and Pacific Life Re.
In early 2018 Singapore Life acquired the business portfolio of Zurich Life Singapore and became responsible for all Zurich Life Singapore’s customers’ policies, totaling approximately S$6 billion of coverage for life, critical illness and disability benefits.
To expand their ambitions with the new acquisitions, Singapore Life is building a whole new set of Frontend systems with enriched Customer Journey experience for their customers.
Contemi is proud to be their chosen partner to develop the frontend portals, self-service portals and advisor portals for their business.
The portals will be fully responsive and work seamlessly across multiple devices. The customer journey is being built with modern KYC and screening process. This automates a lot of the manual work and makes the onboarding process smooth and easy. They are building all frontend systems using modern Angular4 technology and running them in the Amazon AWS cloud.
Singlife has further plans to expand with M&A in several countries in the Asian region. This rapid growth will require several front-end portals in each country and each language. Contemi will be stepping up to provide these multi-lingual multi-national portals to support Singlifes broad ambitions.
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