Launch of DirectAsia.com Will Shake-up Singapore Insurance Market
Release date: 11 April 2010
Adopting a direct business model, DirectAsia.com offers its customers lower insurance premiums by removing agents from the process. It will conduct its business primarily through a user-friendly website, supported by a fully staffed contact centre and walk-in office in the CBD.
"We have been listening to what consumers in Singapore have to say about the escalating costs of their insurance policies and poor claims service, and DirectAsia.com saw the perfect opportunity to empower customers to take control and to pay much more competitively and fairly-priced insurance premiums," said Chief Executive Officer of DirectAsia.com.
In Australia and the UK the direct insurance model has grown to dominate the sale of the types of general insurance products being offered by DirectAsia.com. The direct model is growing aggressively in many parts of the world and currently accounts for more than 65% of the market in the UK and 90% in Australia.
DirectAsia.com's "designed from the ground up" technology and service model is expected to challenge the status quo of the traditional market reliant on the more costly practice of selling through agents.
Over the past two years we have assembled an exceptional team and sourced industry leading practices from around the world. We are very confident that DirectAsia.com will offer customers extremely good value for money. Customers in Singapore can look forward to real positive change when dealing with insurance.