Better together: how Singtel and Great Eastern are coping with Covid-19

The Drum 16 Sep 2020 01:00
The new normal in Covid-19 has seen customers want more convenience, value and a seamless experience.

The Covid-19 pandemic has accelerated the adoption of digital interfaces by customers, allowing two of Singapore's most well-known brands telco Singtel and insurer Great Eastern coming together to form a partnership as a way to make insurance an accessible and value-added offering to consumers.

In a conversation with The Drum, Ryan Cheong, managing director for digital for business at Great Eastern, points out Singtel is a trusted telco brand, while Great Eastern is an established insurance company in the region for 112 years.

“There are several synergies in what we seek in a partnership - operating with a digital mindset, the willingness to experiment for innovation, and being data-driven, agile and responsive in responding to market opportunities with customers first in mind,” Cheong explains.

He continues: “Ultimately, we believe that a wider distribution ecosystem will benefit both partners and our customers as we can make insurance available through new distribution channels and augment existing offerings to our customer bases by reaching out to them through platforms they are already familiar with.”

One of these products is the Singtel Home Protect, a home insurance first that provides coverage for both telco bills and home contents. It bundles both home contents and broadband as home owners typically sign up for or re-contract their broadband services when they shift or renovate their homes.

Elvin Too, vice president for consumer digital at Singtel says the telco is always on the lookout for new ways to enrich its customers’ digital lifestyles. He explains brand partnerships with the likes of Great Eastern go a long way in allowing to innovate and expand the services that Singtel to provide new experiences to its customers’ daily lives.

“Through our engagements with customers, we recognised the lack of insurance offerings in the market that address consumers' digital needs. We're pleased to partner with Great Eastern to co-create customised insurance products with telco-centric benefits and enable our customers’ digital lives with more innovative offerings.”

The new normal in Covid-19 has seen customers want more convenience, value and a seamless experience, especially with their growing reliance on tech since the shift to work and study from home. Many have also made home improvements such as acquiring new devices or boosting their entertainment systems in order to create a more conducive environment.

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