About DirectAsia
Scheme of transfer
Direct Asia Insurance (Singapore) Pte. Ltd. (“DAIS”) will be transferring all its insurance business, including policies, to Auto & General Insurance (Singapore) Pte. Limited (“Auto & General Singapore”). This process is called a Scheme of Transfer (under section 117 of the Insurance Act 1966) and has been approved by the Monetary Authority of Singapore (“MAS”).
Nothing will change with your policies or claims. All the policy terms and conditions, rights, benefits, obligations, and liabilities will stay the same. Also, you do not need to do anything. Just carry on as normal. DirectAsia products and services will continue to be offered by Auto & General Singapore.
If you wish to view the various legal documents concerning this Scheme of Transfer, there are links to them below:
FAQs
I am an existing customer with DirectAsia, what will happen to my policy?
Your existing policy will remain unaffected. Be assured that all the benefits of your policy remain valid and in force in accordance with your policy terms. Any promotions or other benefits due to you will be fulfilled by Auto & General Singapore under the same policy terms.
I have a claim with DirectAsia, what will happen to this?
Your claim will remain unaffected and will automatically transfer to Auto & General Singapore under the Scheme. All the same terms, conditions and processes apply. You will not need to submit a new claim form. Auto & General will assume responsibility for and process your claim.
What if I have a claim with DirectAsia in the future?
Any future claims will remain unaffected. Your claim will be assessed under the terms of your existing policy. After the Scheme of Transfer takes effect, Auto & General Singapore will take responsibility for your claim and the claims process.
What will happen at the renewal of my policy?
Your renewal remains unaffected. When the policy is due for renewal, we will inform you via email 60 days before the renewal date as normal, and the renewed policy will be issued by Auto & General Singapore as the new underwriter.
Will my personal data be affected?
As all the policies will be transferred to Auto & General Singapore (from DAIS) all data will be shared with Auto & General Singapore. There will be no change in how we communicate with you. There will also not be any material change to how we handle your personal data, as Auto & General Singapore, like DAIS, is subject to the Personal Data Protection Act 2012. You can view Auto & General Singapore’s privacy policy, which governs how Auto & General Singapore handles personal data.
What do I need to do because of this Scheme of Transfer?
You don’t need to do anything. Everything will continue as it is now. It’s just the underwriter of your DirectAsia policy that will change from DAIS to Auto & General Singapore.
Is the website or any of the contact details changing?
No, everything will remain as it is now. You can still contact us regarding your policy via any of the channels published on our website
Is DirectAsia closing down?
The DirectAsia business will continue under Auto & General Singapore. The entity, DAIS, will no longer carry out the DirectAsia business and will eventually seek to cancel its licence.
If you have any further questions or concerns, then please call our customer service team on +65 6991 3558 or email [email protected]
Our Story
DirectAsia launched in Singapore in 2010 with a goal of changing the face of insurance in Asia. We believe there’s a better way to do insurance and we’re passionate to make insurance less complicated by offering customers:
At DirectAsia, we have a hugely experienced team of insurance professionals who have worked in the most demanding of countries where direct online insurance is the norm. Our entire Singapore team is based locally and that means you will always speak with someone in Singapore when you call.
About Us
Our policies are underwritten by Direct Asia Insurance (Singapore) Pte. Ltd.
Direct Asia Insurance (Singapore) Pte. Ltd is regulated and licensed by the Monetary Authority of Singapore ("MAS"). We are bound by the regulations and requirements of MAS for insurers. Our policies are protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC).
Auto & General Southeast Asia (SEA) is part of a global network of businesses, which has over 50 years global experience in underwriting, distributing and administering a variety of insurance products. Our global network presently carries out insurance and online comparison related businesses in South Africa, United Kingdom, Australia, France, Singapore and China.
Auto & General also operates Budget Direct Insurance in Singapore, a direct-to-consumer brand offering personal lines cover.
Our Partners
Find out more about our partners that we have team up with to offer exclusive services and perks.
Policy Owners' Protection Scheme (PPF Scheme)
As a fully licensed insurance company registered by the Monetary Authority of Singapore, Direct Asia Insurance Singapore Pte Ltd is a member of the PPF Scheme that protects the interests of policyholders in the event an insurer fails. It provides added assurance that there is a compensation scheme for policy owners to reduce the financial scheme impact on individuals in the event an insurer defaults. The PPF Scheme is administered by The Singapore Deposit Insurance Corporation (SDIC).
For more details please go to www.gia.org.sg or www.sdic.org.sg.