Surer partners with Etiqa Singapore for digital expansion of motor products

Surer partners with Etiqa Singapore for digital expansion of motor products | Insurance Business Asia

Motor & Fleet

Surer partners with Etiqa Singapore for digital expansion of motor products

Motor makes up more than one fifth of Singapore’s general insurance sector

Motor & Fleet

By
Kenneth Araullo

Singapore-based insurtech Surer has partnered with Etiqa to work on an integration that gives insurance intermediaries a fully digital process to obtain quotes instantly, as well as present them to clients along with a straight-through payment process for motor insurance.

This new collaboration comes as an answer to an internal survey done by Surer amongst intermediaries last year. This survey revealed that the two top pain points are difficulty in obtaining quotes due to slow or non-replies, and difficulty in getting multiple quotes for clients due to multiple systems involved.

Surer and Etiqa Singapore’s partnership seeks to solve both issues, as the insurer’s digital capabilities are amplified and extended to intermediaries that are already leveraging Surer’s technology. Surer co-founder Derren Teo (pictured left) noted that this partnership takes on greater importance as the motor segment in the country is very competitive, accounting for 22.2% of the general insurance sector in Singapore.

“Surer and Etiqa hold a shared vision to better serve policy holders by supercharging intermediaries with tech; to give them an easier and quicker way to source for the best options for their customers,” Teo said.

Etiqa Singapore CEO Raymond Ong said that consumers are demanding a more seamless user experience when buying insurance in this 24/7 digital climate.

“We are delighted to expand our digital capabilities with Surer, which will enable intermediaries to generate quotes and make purchases seamlessly. At Etiqa Insurance Singapore, we are committed to continuous innovation and developing industry-leading solutions across our product offerings and distribution channels to make insurance easier and more accessible to all,” Ong said.

Surer and Etiqa will also continue to collaborate beyond motor offerings, moving to other product lines including maid and travel insurance.

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