Singapore – FWD Singapore has announced a strategic partnership with Income Insurance to enhance their vehicle insurance offerings starting from July 2, 2024.
Under this new collaboration, FWD Singapore will distribute car and motorcycle insurance policies underwritten by Income Insurance. This partnership is set to bolster FWD Singapore’s online presence in the vehicle insurance sector.
By leveraging Income Insurance’s extensive expertise and significant presence in the vehicle insurance market, FWD Singapore aims to provide customers with more competitive premium rates.
As part of the agreement, FWD Singapore will launch a year-long campaign to maintain competitive premium rates for policy renewals. Customers with existing motor policies at FWD Singapore will experience no disruption to their current coverage.
Adrian Vincent, CEO of FWD Singapore, expressed his enthusiasm about the partnership, stating, “This collaboration allows us to expand further into the competitive vehicle insurance space, offering our customers attractive deals online.”
Sean Yang, General Manager for Consumer Distribution at Income Insurance, added, “To support the transition, current FWD policyholders will continue to enjoy the same No-Claim Discount (NCD) when they renew and purchase motor insurance with Income Insurance for the first year.”
A notable benefit of this partnership is the access FWD Singapore’s customers will gain to Income Orange Force, an Accident Response Team. This dedicated team will provide motorists with prompt assistance during unforeseen situations on the road.
FWD Singapore is part of the Hong Kong-headquartered FWD Group, a pan-Asian life insurance business serving over 13 million customers across 10 markets.
