SINGAPORE - Media OutReach - 26 June 2019 - Transit travellers in Singapore can now enjoy travel protection with the enhanced Tiq Travel Insurance by Etiqa. The digital-first insurer takes the lead to provide online travel insurance for foreigners on tourist visas, who can now purchase the plan conveniently when they are in Singapore if they plan to take return trip(s) from the island city.
In general, local travel insurers only provide plans that are meant to be used by those residing in the country. Recognising Singapore as a global business and tourism hub, Etiqa provides transit travellers the flexibility and convenience to stay protected when they make Singapore their travel base. This will largely benefit Visiting Friends and Relatives (VFR) travellers and those whom they are visiting.
"When travellers come to Singapore to visit their friends and relatives who are working or studying here, they may have plans to travel together. We see the potential of VFR travel in Singapore, and wish to extend simple and convenient travel protection to all." said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Pte. Ltd. As of June 2018, foreigners, permanent residents and new citizens make up over 40 per cent of the population in Singapore.
Launched last December, Tiq Travel Insurance is designed to cater to changing travellers' demographics, travel style and party composition with features such as three-generation family plan and automated flight delay benefits upon three consecutive hours of delay, as opposed to industry's norm of minimum six hours' delay.
At present, overseas visitors with travel plans that begin and end in Singapore can be covered under the Group, Family and Married Couple plans, as long as the Policyholder is a Singapore citizen, permanent resident of Singapore or foreigner residing in Singapore with a valid pass.
For more information on the enhanced Tiq Travel Insurance, please visit: http://po.st/TiqTravelEnhanced
Etiqa Insurance – A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS) . In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.
Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.
Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.
At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow.