Insurance made different

AS THE organisation that put insurance within the reach of working Singaporeans, NTUC Income has played a pivotal role in the nation's development since it was established by the labour movement 45 years ago. Over the years, it has continued to adhere to its mission of making insurance affordable and accessible. At the same time, the social enterprise has evolved to serve a younger generation of Singaporeans who are more affluent and sophisticated in their needs.

Today, NTUC Income is Singapore's largest composite insurer providing life, health and general insurance products and services to address the protection, savings and investment needs of customers across all segments of society. It has managed to do this while maintaining a healthy balance sheet. Last year, its assets reached a record S$32.6 billion and net operating surplus amounted to S$309.2 million. Impressively, it also insures one out of four vehicles in Singapore and has 750,000 policyholders covered under its Enhanced IncomeShield and IncomeShield plans.

"As we are a social enterprise, we always put our customers at the forefront through creating services that go beyond just insurance that most commercial companies offer. My vision for the organisation is to offer our customers insurance made different," says Ken Ng, who was appointed as NTUC Income's CEO in 2013.