Synagie Corporation seeks opportunities to expand insurtech business

Published Sun, Sep 27, 2020 · 01:48 PM

CATALIST-LISTED Synagie Corporation has been actively seeking opportunities to expand its insurtech business, said the group in response to shareholder's queries ahead of its extraordinary general meeting.

Among upcoming acquisitions and new deals include its partnership with leading computer manufacturers to bundle or package the group's accidental damage protection solutions and third-party administration services in major government tenders for the supply of laptops and tablets.

Synagie also said it is in advanced discussions with one of the world's leading computer manufacturers to offer laptops on a Device-as-a-Service basis to small and medium sized enterprises in Singapore.

In addition, it is exploring partnerships with various consumer electronics and mobile phone chain stores to further expand distribution channels for its mobile phone screen protection insurance products. It is also in discussions with various parties in the wearable technology and computer accessories sectors to offer extended warranty solutions and third-party administration services.

Asked about the ex-dividend date of the special dividend, Synagie said that it will be announced by the company in due course after the completion of the proposed disposal.

Synagie had in August said it is looking to dispose of its e-commerce business for about S$61.7 million to a consortium of investors - including the company's three founders and Alibaba Singapore - to allow Synagie to focus on its insurtech business. The disposal is expected to be completed by October or November this year, said the group.