SINGAPORE - Media OutReach - 26June 2019 - Transit travellers inSingapore can now enjoy travel protection with the enhanced Tiq Travel Insurance by Etiqa. The digital-first insurer takes thelead to provide online travel insurance for foreigners on tourist visas, whocan now purchase the plan conveniently when they are in Singapore if they planto take return trip(s) from the island city.
In general, local travel insurers only provideplans that are meant to be used by those residing in the country. RecognisingSingapore as a global business and tourism hub, Etiqa provides transittravellers the flexibility and convenience to stay protected when they makeSingapore their travel base. This will largely benefit Visiting Friends andRelatives (VFR) travellers and those whom they are visiting.
"Whentravellers come to Singapore to visit their friends and relatives who areworking or studying here, they may have plans to travel together. We see thepotential of VFR travel in Singapore, and wish to extend simple and convenienttravel protection to all." said Sue Chi Kong, Chief Executive Officer of EtiqaInsurance Pte. Ltd. As of June 2018, foreigners, permanent residents and newcitizens make up over 40 per cent of the population in Singapore.
Launchedlast December, TiqTravel Insurance is designed to cater to changing travellers'demographics, travel style and party composition with features such asthree-generation family plan and automated flight delay benefits upon threeconsecutive hours of delay, as opposed to industry's norm of minimum six hours'delay.
Atpresent, overseas visitors with travel plans that begin and end in Singaporecan be covered under the Group, Family and Married Couple plans, as long as thePolicyholder is a Singapore citizen, permanent resident of Singapore orforeigner residing in Singapore with a valid pass.
For moreinformation on the enhanced Tiq Travel Insurance, please visit: https://po.st/TiqTravelEnhanced
Etiqa Insurance – A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. isa licensed life and general insurance company registered in the Republic ofSingapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for itsfinancial strength and stable outlook.
Etiqa has been protecting Singaporeans since 1961 witha range of general insurance solutions that constantly evolve to meet theirever-changing needs. As the appointed insurer for the Housing Development Board(HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since2009. In August 2014, we added a comprehensive suite of life insurancesolutions to our stable of products.
Etiqa is owned by Maybank Ageas Holdings Berhad, ajoint venture company that combines local market knowledge with internationalinsurance expertise. The company is 69% owned by Maybank, one of Asia's leadingbanking groups with more than 22 million customers worldwide in 20 countries;and 31% by Ageas, an international insurance group with 33 million customersacross 16 countries and a heritage that spans over 180 years, with a focus toprovide world class insurance solutions to consumers in Europe and Asia throughmarket leading joint ventures.
At Etiqa, we believe in our brand promise ofhumanising insurance, by placing people over policies in everything we do. Weare passionate about helping Singaporeans protect themselves and their lovedones today and helping them plan for a financially secure tomorrow.