Company Profile | DirectAsia Insurance
 

Why DirectAsia >

Company Profile and Structure

Direct Asia Insurance (Singapore) Pte Ltd (Registration No. 200822611G) ("the company" or "we") is incorporated in Singapore with its principal places of business at 88 South Bridge Road, Singapore 058716 and 20 Anson Road #08-01, Singapore 079912. Our registered office is at 88 South Bridge Road, Singapore 058716.

The company was registered as a direct insurer to carry on general insurance business in Singapore on 18 May 2010 under the Insurance Act (Chapter 142) of Singapore ("Insurance Act").

Ownership

Our immediate parent company is Direct Asia Insurance (Holdings) Pte. Ltd. ("DAIH"), a Singapore registered company. We are ultimately owned by Hiscox Ltd., an international specialist insurance group headquartered in Bermuda and listed on the London Stock Exchange.

DirectAsia Business and Philosophy

At DirectAsia, our aim is to change the face of insurance in Singapore and Asia, and to bring quality insurance products at more affordable prices to customers.

We wanted to depart from the traditional way of offering insurance by providing customers with a different and better way of obtaining insurance. We thus launched our online direct-to-customer business in 2010. Our products are also offered through our call centre and our office at 88 South Bridge Road.

Today we are firmly established as one of Singapore's leading online insurers. Each year we continue to grow and find new ways to offer Singaporeans better choices on their insurance.

Our Key Products

We offer the following insurance products to the Singapore market:

  • Car
  • Motorcycle
  • Travel


Our External Environment

We operate in the Singapore general insurance market.

Our Objectives and Strategies

Our mission to transform insurance in Asia is just starting.

In 2014, DirectAsia became part of global insurer Hiscox, adding decades of additional insurance expertise to our firm. Those extra resources, in addition to our carefully selected team of local and international talent, will better enable us to turn DirectAsia into a true leader of online insurance in Asia.

Despite the continued expansion of our team, our strategy has been the same from day one. To offer our clients best-value insurance policies in new ways combined with excellent customer service.

Audited Financial Statements

Financial year 2016

Corporate Governance Overview

Framework and management controls

We recognise the importance of having a set of well-defined corporate governance processes to enhance performance and accountability, to sustain business performance and to safeguard the interest of its stakeholders. The promotion of corporate transparency, integrity and accountability at all levels of the organisation is led by the Board and assisted by the management team.

Board Role and Responsibilities

The Board of Directors oversees the affairs of the company, including setting its strategic direction and long term goals, and reviewing its performance.

The Board has established two Board Committees to assist it in carrying out its oversight of the operations and business affairs of the company. These Board Committees are the Audit and Risk Committees. The Board has delegated authority and powers to these Committees to monitor and have oversight over specific areas. Each of the Committees has its own clearly defined terms of reference which describe its objectives, composition, and key duties and responsibilities. The minutes of Board Committee meetings are circulated to the Board.

Audit Committee

The key responsibilities of the Audit Committee include:

  • Review the plan, results and effectiveness of internal and external audits.
  • Review the independence and objectivity of external auditors.
  • Review with internal and external auditors significant accounting and financial reporting issues.
  • Review with management and the external auditors the financial statements of the company.
  • Make recommendations on the appointment, re-appointment or removal of external auditors and approving the remuneration and terms of engagement of the external auditors.
 

Risk Committee

The Board delegates its risk review and oversight function to the Risk Committee while retaining the ultimate authority. The Risk Committee exercises the authority delegated by the Board to provide oversight on the risk management framework and policies, to cover all material risks such as Strategic, Insurance, Market, Credit (encompassing Liquidity), Operational and Group risks.

The key responsibilities of the Risk Committee include:

  • Approve the framework and policies for risk management.
  • Approve the Own Risk and Solvency Assessment (“ORSA”) report.
  • Set the enterprise level risk appetite and tolerance.
  • Ensure management has established adequate systems and processes to implement robust risk management, risk measurement and risk reporting.
  • Highlight to the Board issues of concern on key business risks.


Enterprise Risk Management Framework

Risk Management Overview

At DirectAsia, risk management is core to our business in order to protect customers and stakeholders. The role of risk management is to ensure risks are identified, assessed, controlled or mitigated, so as to safeguard our financial strength and business continuity, and enable us to fulfil our obligations to our customers and stakeholders. We achieve these objectives through the implementation of a risk management framework that encompasses all key areas of our operations.

This Risk Management Strategy, as formulated by the Risk Committee and approved by the Board, serves to ensure that the risk management framework and risk policies are in place with the necessary processes and controls to identify, assess and manage material risks consistently across all business activities.

Risk Management Principles

Risk is defined as events which have a range of probabilistic outcomes, some of which have a negative impact on the organisation. As an insurer, risk is a key part of our business and the objective of risk management is to ensure that these risks are identified, assessed, controlled or mitigated.

In order to achieve the objective, DirectAsia operates in accordance with the following principles:

  1. Board ownership and oversight of an effective Risk Management Framework ("RMF") within a formal governance framework, and maintenance of an independent Risk function;
  2. Operation under a common RMF and risk language across the Group;
  3. Clear business ownership of risks across the business, including reporting and escalation of business risk issues and risk management actions;
  4. Clear articulation of risk appetite around strategic and business objectives;
  5. Heightened focus on the critical risks to DirectAsia, with proportionate focus and approach to non-critical risks and new, evolving or emerging risks; and
  6. Operation of DirectAsia’s Own Risk and Solvency Assessment ("ORSA") process.
 

Risk Types

Under the risk management framework, risks are classified under six broad categories which are considered to be most central to our business:

  1. Strategic Risk
  2. Market Risk
  3. Credit Risk (encompassing Liquidity Risk)
  4. Operational Risk
  5. Group Risk
  6. Insurance Risk

Insurance risk comprises:

  1. Underwriting risk: Underwriting risk is defined as the risk that insurance premiums will not be sufficient to cover future insurance losses and associated expenses.
  2. Reserving risk: The risk of the reserves set in respect of insurance claim losses are ultimately insufficient to fully settle these claims and associated expenses. This definition also applies to reserves which have been set previously.

Underwriting risk is mitigated by:

  1. Purchasing reinsurance with highly creditable reinsurers to mitigate the impact of unexpected large claim or several claims,
  2. Actively manage its portfolio by expanding and/or contracting into various segments depending on the pricing cycle, and
  3. Having guidelines to assist underwriters to make decision on whether to underwrite a particular risk in line with the broader underwriting philosophy.

Reserving risk is mitigated by:

  1. Regular review of the insurance reserves, by the Group Actuary, to ensure that they are sufficiently held at all times. Additional reserves are held to cover the possibility of adverse development in claims experience and comply with the regulatory requirements,
  2. Guidelines and procedures to follow for claims that require investigation and claims adjustment, thereby preventing settlement of fraudulent claims, and
  3. Prompt claims handling reduces the risk of under-reserving as majority of the claims in Singapore are generally reported and settled within a short period.
 

Risk Appetite

  • Specific risk strategies and appetite are established for each of the categories of risk. They set the boundaries within which management is expected to operate as they seek to deliver the Company's objectives.
  • Each of the business lines is responsible for ensuring their business strategies align with the established risk appetite, for thoroughly evaluating and managing all risk exposures consistent with our enterprise risk policies and for earning economic returns commensurate with the level of risk assumed.
  • A formal review of our risk appetite and quality of risks is undertaken on a regular basis.
  • Annual review for policies and procedures that facilitate the identification and management of material risks, and those relating to the monitoring and reporting of risk issues are conducted.
 

Capital and regulatory risk management policies and objectives

Our policy is to maintain a suitable capital base so as to support the underwriting strategy. We are also required to maintain a minimum amount of capital as prescribed under the Singapore Insurance Act (Chapter 142) and Insurance (Valuation and Capital) Regulations 2004.

We have complied with the abovementioned regulatory requirements with Capital Adequacy Ratio of 283%, which is well above the minimum regulatory requirement of 120%.

Investment objectives and strategy

Our investment objective is to maximise the investment result in the prevailing financial, economic and market conditions, from the assets matching technical reserves and shareholder funds, subject to a prudent risk appetite. Our assets are managed in a sound and prudent manner in accordance with the regulations promulgated by the MAS, in particular, MAS Notice No. 125 issued on 2 April 2013. We currently adopt a very low risk profile for our investments.

Policies and processes

We adopt a risk-based approach through the investment process with due considerations to the range of investment related risks, mainly credit, liquidity, interest rate and currency risks. Broadly, there are 4 steps involved in the investment process:

  1. Investment policy setting – establish the investment guidelines including the target asset allocation range, the time horizon, the investment limits and the risk controls mechanism.
  2. Investment execution – identify and select the specific investments in accordance with the parameters set out in the investment policy.
  3. Performance monitoring and reporting – regular review of portfolio performance against return and risk characteristics and reporting to key stakeholders, including the Board.
  4. Portfolio rebalancing – rebalance the portfolio in accordance with the changing business mix and liability profile.

  Car Insurance : Efficient and good service

Ahmad Fairuzi Bin Mohd Kamal
4 June 2018

 

  Car Insurance : Very good customer service. Professional and clear explanation given on the policy details.

Yuan Guan Terence Tan
26 April 2018

 

  Travel Insurance : Prompt service to getting my claims approved. Good job done by Elyn.

Jiehe Wang
26 April 2018

 

  Travel Insurance : Claims is fast and efficient, great customer service from Elyn Pan.

Chinnskii Goh
26 April 2018

 

  Travel Insurance : I would definitely recommend DirectAsia. Their travel insurance are reasonably priced and yet they offer very good services!

Goh Yan Ran Tessa
25 April 2018

 

  Travel Insurance : Staff response was swift, be it claims or inquiries.

Nooraisah Bte Abdul Rahman
25 April 2018

 

  Travel Insurance : Excellent, professional service that is positive and 100% client-friendly. Communications were clear and staff was compassionate.

Wayne Fozzard
24 April 2018

 

  Travel Insurance : As always, service was efficient, friendly, courteous and fast. They got back to me by phone within 2 days to clarify, DirectAsia has always been responsive, informative and friendly in their interactions. 

Floydd Patric Wood
24 April 2018

 

  Travel Insurance : Prompt reply from the claims officer. Helpful in explaining the issues regarding claims.

Muhammad Nor Idzwan Bin Raeimi
24 April 2018

 

  Car Insurance : Very good services!

Wan Lu How
20 April 2018

 

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Travel Insurance

Individual Plan if you're travelling alone.

Group Plan if traveling with 1 or more friends/ relatives. You get to enjoy a group discount when your group size is more than 2.

Family Plan if travelling with your spouse and children. You can include up to 4 children who are aged between 15 days and 18 years old or until 24 years old if they are in full-time tertiary education. If there are only 2 members travelling, you should choose our individual or group plans.
For Asia: 
Australia Brunei Cambodia China (excluding Tibet)
Hong Kong India Indonesia Japan
Laos Macau Malaysia Myanmar
New Zealand Philippines South Korea Sri Lanka
Taiwan Thailand Vietnam  

For Worldwide: Those listed above and all other countries.

Please note that we do not cover you for the following countries: Afghanistan, Democratic Republic of Congo, Democratic Republic of Somalia, Iran, Iraq, Libya, Nepal, North Korea, Sudan, Syria, Yemen. 
Yes, you get a special family package rate for taking the family plan which covers you, your spouse and up to 4 children who are aged between 15 days and 18 years old or 24 years old if they are in full-time tertiary education. Your children can go free on the Family Plan with you and your spouse.
We'll automatically extend your policy regardless of annual or single trip cover, if your flight is delayed or you are injured and you can't get back home on your scheduled date.
Our single trip plans can cover you for trips up to 182 days.
Our annual plan covers you for all travel taken within a 12 month period. There's no limit to the number of trips you can take so long as each trip is no more than 90 days.
We offer you the option of including coverage for Extreme Sports and Activities with your annual policy - recreational activities perceived as involving a high degree of risk. When you have opted and paid for the Extreme Sports and Activities optional benefit then you will be covered up to the limits listed under the travel insurance plan you purchased when participating in the following sports or activities:
 
  • organized races where you are competing against others such as triathlon, cycling and obstacle races;
  • winter sports such as skiing and snowboarding;
  • hiking or trekking up to 4,000m in altitude (without ropes or specialist equipment);
  • martial arts, boxing or other similar activities;
  • sports tours where you are competing against other teams in contact sports (e.g. rugby).
 
With the Extreme Sports and Activities optional benefit, you will be covered for the following activities or sports provided that you have a licensed guide and a registered operator:
  • off-piste skiing;
  • trekking, hiking or mountain biking in extreme or hazardous areas, rock climbing, caving, pot holing or mountaineering or any similar activities that require the use of ropes;
  • scuba diving (up to a depth of 30m);
  • parachuting, sky diving, paragliding, parascending, bungee jumping, hang-gliding, or other similar activities;
  • white/black water rafting, canoeing or kayaking;
  • water skiing, wakeboarding, windsurfing, kitesurfing or other similar activities;
  • all-terrain vehicle (ATV), go-kart, sand buggy or similar (you must wear a helmet).
 
We do not cover the following even if you have opted and paid for the Extreme Sports and Activities optional benefit:
 
  • sports where you are participating as a professional or for any incentive or reward;
  • speed time trial or any form of race other than on foot, cycling or swimming;
  • trekking or hiking above 4,000m in altitude;
  • BASE jumping, wing suit flying or other similar activities; 
  • ski jumping, bobsleigh, skeleton and heli-skiing or other similar activities;
  • taking part in any of the activities without a licensed guide where we have said they are required.
We do not cover people who have been advised by a medical practitioner not to travel or anyone who is travelling on a trip to receive medical treatment.
We do not cover you for the following countries: Afghanistan, Democratic Republic of Congo, Democratic Republic of Somalia, Iran, Iraq, Libya, Nepal, North Korea, Sudan, Syria, Yemen.

That will depend entirely on your needs and considerations. Factors to consider:

  • How much your family would need without your salary to support them should you become disabled or involved in a fatal accident?
  • How much expense you need to cover for you and/or your family in case of trip delay or cancellation based on the hotel and flight you booked?
  • What are the necessary coverage you need and what would you want to add on for greater peace of mind?
No. The credit cardholder must be the policyholder. You can also arrange to pay by cash or cheque if you don't have your own credit card. 
Yes, for annual cover you can pay your premium in monthly instalments with your credit card at no additional cost.
If you need more time to decide, you can save your quote and go back to it at a later date. Your quote will be saved in our system for 90 days. Once you have decided, you can go ahead and buy your cover and it will take effect immediately if you choose. You will receive an SMS confirming your immediate cover.
Your premium is calculated based on a number of factors including duration, destination, extreme sports, number of travellers. Your premium is also based on the level of coverage you choose.
No refund will be entitled if you have reported or notified us of a travel insurance claim or we have paid a claim during the policy period. We reserve the right to collect any outstanding premium from you if you opt for our instalment payment plan for annual policy.
For annual plans, you can cancel this policy at any time by giving us 7 days’ notice. The refund premium will be pro-rated subject to a cancellation fee of S$10 (inclusive of GST).

For single trip plans, you may cancel the policy any time before the commencement date. The refund premium will be subject to a cancellation fee of S$10 (inclusive of GST).

The refund is calculated based on the following conditions:

Premium Refund = [Premium x (Unexpired Period of Insurance (Days) / Original Period of Insurance (Days))] – Applicable Cancellation Fee ($10).

You will receive your premium refund within ten working days.
For premium paid via credit card, we will credit the premium refund to the same credit card account originally used. For cash or cheque payment, we will send you a refund via cheque.

DirectAsia is a fully licensed insurance company registered by the Monetary Authority of Singapore so you are protected under the PPF Scheme.

For more details please go to www.gia.org.sg or www.sdic.org.sg.

For convenience and peace of mind, we have now made your annual policy as automatic renewal and we will simply deduct the amount from your credit card when your renewal is due. If you choose to opt out of automatic renewal, we will send you an invitation to renew.

You can easily make changes to your personal details 24/7 from our website in the My Account section. You can change your particulars, including contact information, billing info, and more

If you need to talk with us, you may call our customer service centre hotline at 6665 5555 from Monday - Friday: 8am - 8pm or email us at customerservice@directasia.com.

You can contact us to request a change to be made to your cover. Please give us 7 days' notice in order for the change to be effective.

You may call our customer service centre hotline at 6665 5555 from Monday - Friday: 8am - 8pm or email us at customerservice@directasia.com.

We will help pay you if your trip is disrupted or you become stranded because of natural disasters or if there has been an unexpected civil commotion that prevents you from continuing with the scheduled trip. You are also covered for additional hotel stays and costs incurred on your return to Singapore.
We will help reimburse you the cost for the rest of your planned trip (less the amount you are able to claim from the travel provider or carrier) if it has been disrupted due to an unexpected death, serious injury or illness to either yourself, immediate family member or travel companion.
Our claims process couldn't be simpler. We have a 24-hour dedicated Claims hotline to assist you in times of need. If you are out of Singapore, you can call us on our overseas number at +65 6603 3699 (Overseas/Emergency) or call us locally at +65 In Singapore
6532 1818 and we'll take care of the rest!
We prefer to make things simple for you, so no forms required. Just call us at +65 6532 1818 to start your claim process with your proof of travel, and copies of the supporting documents within 30 days upon returning from your trip. Within one working day, you'll be assigned a personal Claims Specialist. You'll have the ability to contact them directly throughout your claim process. Visit How to Claim for more information. 
Always report to the police within 24 hours at the place of the accident, injury or loss, and get a copy of the police report.
All information on how to lodge a claim with DirectAsia can be found at www.directasia.com/claims or call 6532 1818 for personal assistance.

In the case of an act of terror happening near to where you intend to travel to, and within 50km of your booked accommodation, we understand that you may decide to cancel, curtail, or amend your insured trip. So, if you purchase your policy from 2 February 2018 onwards, we will pay for any irrecoverable transport and accommodation expenses for which you have paid or are contracted to pay if you decide to cancel, curtail or amend the trip. The incident must take place after you have booked the trip and within 30 days before you were due to start the insured trip for you to be able to cancel or amend the trip.

 
We will also pay such costs if you have already travelled and there is an attack within 50km of your booked accommodation and you wish to return back to Singapore early. 
We understand that when you travel on your own, having a family member or friend with you overseas after you fell sick or are injured during the trip, makes the hospitalization stay feel more bearable. So, if you purchase your policy from 2 February 2018 onwards, we will pay up to the limits, depending on your policy purchased, the cost of reasonable return economy class transport and reasonable hotel accommodation expenses to allow one family member or friend to travel to be with you if you are hospitalised for at least five continuous days overseas.
 
We will pay till the date that your doctor confirms that you are fit to continue your trip or return to Singapore for up to 30 days (whichever comes first).
Starting 2 February 2018, as part of your trip, you may choose to include the Sports Equipment Optional Benefit as part of your annual policy to help cover for loss, theft or accidental damage to your equipment whilst overseas on an insured trip e.g. your skis, snowboard, scuba equipment, golf clubs. 
Starting 2 February 2018, you may choose to include your contracted foreign domestic helper as an Optional Benefit under your family plan when she is travelling with your family. We will pay for any losses you incur e.g. medical expenses, medical evacuation & repatriation, emergency phone charges, trip cancellation, or curtailment or delay. This policy will only kick in after you have exhausted the coverage under your compulsory maid cover where applicable (e.g. for medical matters) and you must prove you have done so. Any claims resulting from your maid will count towards ‘Per Family Limit’ specified in each of the sections covered
Plan Vehicle age
Comprehensive Up to 10 years old
Third-party fire and theft Up to 30 years old
Third-party only Up to 30 years old
We will be happy to provide you with a quote for any of our insurance plans. However, before you buy the policy, please check with your finance company. Some finance companies require certain levels of insurance cover for the motorcycle before they can continue with the finance.
There is no excess applicable for Personal Accident benefit and 24-Hour Breakdown Assistance. However, you will have to pay an excess of S$107 (inclusive of GST) each time you claim under Medical Expenses benefit.
Your own damage excess will be applicable in the event your motorcycle is stolen in Singapore. (You can refer to your certificate of insurance on how much your policy excess is). If your motorcycle is stolen outside of Singapore, an additional excess of 50% of the market value of your motorcycle at the time of the theft capped at a maximum of $2,000 will be applicable too.
No, we will not pay you for your modifications since these will have been done by you or a previous owner after the motorcycle was first registered. We will only cover you for the original standard equipment by the maker or distributor and we can decide whether to replace or repair these items or pay you the cost to do this.
If you choose our comprehensive motorcycle insurance we will cover you for accessories and spare parts if these were fitted as standard equipment by the maker or distributor at the time your motorcycle was originally bought and they were on your motorcycle at the time of the accident, loss or theft.

We can decide whether to replace or repair these items or pay you the cost to do this.

Medical Expenses, Personal Accident and 24-Hour Breakdown Assistance 
We have 3 different plan types depending on your needs. They are Comprehensive, Third-Party Fire and Theft and Third-Party Only. See 3 types of Motorcycle Insurance plans.

The policyholder is the registered owner of the vehicle – we cannot insure you if you are not the owner of the vehicle.

The main rider is the person that uses the motorcycle most frequently – he must be aged 25 - 65, 2 years’ riding experience. He would be the policyholder (vehicle owner).

Named riders are occasional riders you name under the policy. They have to be aged 25 - 65 with 2 years’ riding experience.

Authorised riders are people that you give permission to use your motorcycle. Sorry, this policy covers only 1 main rider and up to 1 named rider. It does not cover any unnamed riders. The adding of additional rider is subject to additional premium charges.

Yes, your policy remains valid even if you have had modifications done to your motorcycle, provided these modifications are LTA compliant and/or approved and have been declared to us. Please check if your modifications are LTA compliant.

No. The credit card holder must be the policyholder. If you do not have a credit card for payment, you can arrange to pay at 88 South Bridge Road S(058716) via cash or cheque.

No, we are sorry that our motorcycle third-party only insurance is available on a single payment basis only.
  1. Your chassis number. You can get this by logging onto LTA website
  2. Your NRIC for you and any named driver
  3. Your previous registration number if you plan to transfer your NCD to a new motorcycle
  4. And your credit card details
Yes. You just need to tell your motorcycle dealer that you will be getting your Motorcycle Insurance from DirectAsia.
You can get a quote by following our simple step by step guide. If you're satisfied you can go ahead and buy. You can choose the start date of your policy and even have immediate cover if you wish. You can print off your insurance certificate straight away. If you need time to gather more information, then you can save your quote and go back to it at a later date. Your quote will be saved in our system and will be valid for 90 days.

We make our policies in such a way that you pay only for what you need. Here are a number of ways you can cut costs on your premium.

  1. We have three different insurance plans for motorcycle policy. You can select the plan according to your needs.
  2. Opt to pay a higher excess. The higher the excess the lower the premium. (Note: This only applies to our Comprehensive plan).
  3. Certain motorcycle models are more expensive to insure than others. Keep this in mind when purchasing a new vehicle.
  4. Be sure to only pay for the optional extras you need, as any you add will increase your premium.
Your Motorcycle Insurance premium is based on a number of factors including driver profile which looks at your age, driving experience, No Claim Discount and the number of profile named on your policy. We also take into account the motorcycle's make, model and age. The excess you choose will also affect your premium. The higher the excess, the lower the premium. (Note: This only applies to our Comprehensive plan) Any optional benefits you choose will also affect your premium.
An excess is the amount that you must contribute towards the cost of a claim. The type of excess and the amount payable will be shown on the Schedule. If you make a claim, you will have to pay us any excess that applies.

If your No Claim Discount (NCD) is 20%, your Certificate of Merit (COM) from the Traffic Police entitles you to a discount over and above your NCD. This is your Offence Free Discount. At DirectAsiawe reward safe drivers.

You can check your status here

If you have been a named driver on someone else's insurance, you are not entitled to any NCD. However, if you have been driving a company motorcycle and you then buy a personal motorcycle, you would be allowed to transfer the NCD. This is provided you can show the number of claims' free years you have with a letter from the HR department of your employer or from the leasing company, if the motorcycle is leased. More details on NCD.
No you cannot protect your NCD. When an accident occurs, your No Claim Discount will be reduced as described in the table below. Please declare the NCD according to your situation: Your current No Claim Discount If you make 1 or more at fault claim 20% 0% 15% 0% 10% 0%
A No Claim Discount is a discount that we offer you on your renewal premium if there are no claims on your policy during the current period of insurance. You may still be entitled to a No Claim Discount even if you have made a claim, provided you are not liable for the accident or in cases of thefts and Acts of God.

No, you do not need to select Private and Business Use to make a few business calls. If you need to use your bike for a use outside of your policy, you must inform us prior to when you’ll be riding your bike off your selected use. You can ride outside of declared use up to five times per policy at no extra cost.

  1. Private use: You are only using your motorcycle in the course of your private life and for leisure.
  2. Private use and commuting to work: You are also using your motorcycle to go to and from your office.
  3. Private and business use: You are also using your motorcycle for and during the course of your work.
Your policy covers you when you ride your motorcycle in Singapore, West Malaysia and Southern Thailand (Within 80km of the border between Thailand and Malaysia.)
Statistically, young drivers tend to have more accidents. At the moment, we do not insure very young drivers, but we do strive to review our policies from time to time. Nonetheless, we appreciate you considering us and hope you will choose us for your motorcycle insurance in the future.

Only a driver named by the policyholder in the policy aged between 25 and 65 with 2 years' driving experience is covered under the policy.

If the claim is reported by the named driver under this policy for loss of or damage to the motorcycle then the named driver would enjoy the same cover as the policyholder.

If you meet the below requirements, then yes you do.

  • The policyholder must be the registered owner of the vehicle – we cannot insure you if you are not the owner of the motorcycle.
  • The main driver is the person that uses the motorcycle most frequently – they must be aged between 25 and 65 years old, with at least 2 years’ driving experience.
You can add one named driver to your policy aged between 25 and 65 years old, with at least 2 years’ driving experience.
Making a claim against motorists from another country can turn out to be costly and time-consuming. You have to get the help of your repairer to assist in your claim. If you are not at fault and you are able to provide the registration number of the third party vehicle, your NCD will not be affected.
You can use a repair workshop of your choice.
Call 995 for the fire brigade. Get details of the officer who attends to the fire and a copy of the fire report.; If your motorcycle is damaged in an arson attack, report it to the police so that they can investigate.

Get a copy of the police report and call us to lodge a claim on In Singapore
6532 1818 or +65 6603 3699 (Overseas/Emergency). 
If you settle the matter amicably with the other driver, then there is usually no need to make an insurance claim. You must still report the matter to us, though. It will NOT affect your No Claim Discount. Complete and send us a copy of the Private Settlement form when you're reporting the claim.
If someone is injured, then you'll need to report the accident to the police. If nobody is injured and you settle the dispute with the other driver amicably, then there's usually no need for police involvement. However, should a hit-and-run situation occur or a government vehicle/property, foreign vehicle, or pedestrian/cyclist be involved, you need to report this to the police.

The refund is calculated based on the following conditions: Premium Refund = [Premium x (Unexpired Period of Insurance (Days) / Original Period of Insurance (Days))] – Applicable Cancellation Fee ($53.50 inclusive of GST).
 
Please note that the above is subjected to no claim/accident in current policy period.

Please ensure you have the following documents:
  • Sale / Purchase Agreement by car dealer stating the details of the sale of the vehicle, and the effective sold date and handover date; OR
  • LTA Notification Transfer of Ownership for the vehicle.
You may fax the documents to 64231197 or email us at customerservice@directasia.com. Once we receive these documents, we will backdate the cancellation date to 1 day after the vehicle sold/ handover date.

Alternatively, you may also give us a call on our Customer Service Hotline at 6532 2888 from 8am to 8pm, Monday to Friday.
No refund will be given if there is a motorycle accident reported and/or claim made under your motorcycle insurance policy.
For premium paid via credit card, we will credit the premium refund to the same credit card account originally used. For cash or cheque payment, DirectAsia.com will send you a refund via cheque. You will receive your premium refund within ten working days.
If the overall claims experience is bad that year then insurance companies have to increase their premiums across the board for all motorists irrespective of whether you have made a claim or not. If you have a clean driving record, though, your premium will still be lower than those with accident claims.
There are a number of factors involved in pricing premiums. Firstly, there may be an increase in claims for your motorcycle make and model, which will lead to higher premiums. The higher price may also be driven by inflation. For example, increased repair costs, legal fees and medical costs means increased insurance premiums to keep up with these costs in general.
There are many things taken into consideration when calculating premiums particularly risk factors including vehicle model, capacity, and driver's profile. The market value of the motorcycle is not considered to be a direct risk factor because it does not influence the claims received from third parties for property damage and injuries. Also, repair cost for motor vehicles continues to increase therefore impacting insurance premiums.

As a fully licensed insurance company registered by the Monetary Authority of Singapore, we are a member of the PPF Scheme.

Your Motorcycle Insurance policy issued by DirectAsia is covered by the PPF Scheme. For more details please go to www.gia.org.sg or www.sdic.org.sg.

You can cancel this policy at any time by giving us 7 days' notice. The refund premium will be pro-rated subject to a cancellation fee of S$50 before GST for car insurance & motorcycle insurance, S$10 for travel insurance.
We make it easy for you to renew your policy. This can be done automatically and we will deduct the amount from your credit card when your renewal is due. If you don't opt for automatic renewal we will send you an invitation to renew.

You can easily make changes to your personal details 24/7. Login to My Account space to change your particulars, including contact information and more.

If you need to speak to us, you may call our customer service centre hotline at 6665 5555 from Monday - Friday: 8am - 8pm.

You can contact us to request a change to be made to your cover. Please give us 7 days' notice in order for the change to be effective.; You may call our customer service centre hotline at 6665 5555 from Monday - Friday: 8am - 8pm or email us at customerservice@directasia.com

We have to exclude some drivers to keep your premium down
We cannot cover you if:

  • You have been declined when trying to renew your policy in the last 3 years. Or you have had your policy terminated in the last 3 years.
  • You've had your licence suspended or cancelled in the last 5 years.
  • Your motorcycle is registered under your company
  • You use your motorcycle to perform delivery services, whether on a full time or part time basis

We do not insure certain professions. These are:

  • Personnel of foreign armed forces
  • Professionals who are involved with the entertainment industry
  • Professional sportsmen or sportswomen
  • Foreign diplomats and foreign diplomatic staff
All information on how to lodge a claim with DirectAsia can be found at www.directasia.com/claims or call 6532 1818 for personal assistance.

Have questions? Speak with us directly at 6665 5555 or provide your details and we’ll call you.

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Direct Asia Insurance (Singapore) Pte Ltd is a member of the DirectAsia group of companies.
Reinsured by Munich Re, one of the world's leading reinsurers.