Singaporeans deserve the right to choose

The recent announcement by the Monetary Authority of Singapore (MAS) that it will soon allow insurers to offer the full suite of life insurance products to be sold online, without advice, is a defining moment for Singapore's insurance industry. I believe that by giving Singaporeans a choice over how they buy their life insurance, we have the opportunity, over the next three to five years, to change the industry for the better.

This will raise standards overall, encouraging the entire industry, including insurance agents, to provide further value add to meet consumer demands.

Learning from past lessons