Singapore Life, an insurtech offering life insurance, is in talks with Michael Spencer, the CEO of broker NEX Group, over a potential $£3.9 billionm investment. The new funding would increase his 18% holding in the insurtech to 60%. Singapore Life offers insurance online via banks and brokers rather than through traditional agencies as is the norm in much of Asia. The insurtech is the first local insurer to be granted a licence from the Monetary Authority of Singapore since 1970, and uses fitness tracking information from clients in its Stay Active programme to offer discounts to those with active lifestyles.
Singapore Life, an insurtech offering life insurance, is in talks with Michael Spencer, the CEO of broker NEX Group, over a potential $50m investment. The new funding would increase his 18% holding in the insurtech to 60%. Singapore Life offers insurance online via banks and brokers rather than through traditional agencies as is the norm in much of Asia. The insurtech is the first local insurer to be granted a licence from the Monetary Authority of Singapore since 1970, and uses fitness tracking information from clients in its Stay Active programme to offer discounts to those with active lifestyles.