The Business Times

Harpreet Bindra

The growth of Singapore's insurance premiums is fuelled by key factors including a rising influx of wealth, a growing mass affluent demographic, ongoing protection gaps, and an ageing population.
THE BOTTOM LINE

Changing demographics are driving innovation in Singapore’s insurance landscape

Despite the city-state’s status as a mature insurance market and affluent society, it faces one of the highest protection gaps in Asia

The Life Insurance Association Singapore’s 2022 Protection Gap Study puts the mortality and critical illness protection gap at S$373 billion and S$579 billion, respectively.

Four insurance trends that could impact you

Insurance plays an essential role in building financial resilience in society. BY HARPREET BINDRA

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