Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.
In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.
Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.
The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time.
Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan’s leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.
Purpose Of The Role
- Provide servicing and renewal activities to the corporate customers under our SME Facility-Ben-One
- Ensure policies are properly administered
- Responsible for high persistency for existing renewal to meet financial targets
- Build a strong relationship with the ass igned intermediaries
- Actively engaging and strengthening relationships with internal and external stakeholders
- Ensure new business are closed timely processed & billed
- Manage and resolve issues/escalations raised by the clients and/or intermediaries e.g. products, EB-connect platform,
- Conduct or participate in employees communications sessions
- Collation of business unit ‘s financial performance and reporting
- Responsible for credit control to ensure premiums are paid
- Coordinate with intermediaries to promote cross-selling of individual products
- Participate in projects to grow business and for career growth progression
Role Attributes
- Oversight of new business quotations for brokers source assigned
Key Responsibilities
Financial
- Achieve annual business targets and IFRS set
- Maintain minimum 90% renewal persistency rate
- Upsell new lines of products to existing clients
- Work with Singlife Financial Advisers for SME clients to promote cross-selling of individual products
Non-Financial
- Respond to incoming emails within 3 working days
- Respond to escalations within agreed TAT (3 WD for simple case and 10 days for complex case)
- Responsible for monthly invitation of group policy due for renewal
- Follow-up for renewal data and compulsory due diligence form to send to billing team for billing/endorsement
- Responsible for collection of premiums within the credit term
- Monitor all forms/relevant SLA reporting in relation to Ben-One Mailbox.
- Ensure timely submission of monthly Ben-One business reports to Mercer (as per Ben One agreement)
- Conduct staff communication sessions to the employees and intermediaries.
- Make use of the claims withholding report to follow-up premium payment and update the credit control file promptly
- Sending reminder email on outstanding premiums to intermediary/clients at least 30 days before the LOG suspension and claims withhold kicks in
- Monitor and ensure service deliverables with Customer Service /Provider Team as well as any Service Level Agreements
- Supervise the sales support contract staff to ensure they are performing within expected levels
- Ensure risks are underwritten/accepted in accordance with the risk management and underwriting policies of the company and ensure compliance with regulatory requirements
Key Decisions Within The Role
- Financial Authority as per the delegation of Authority for Group Business
Requirements
Experience
- Preferably with minimum 1 years of experience in Employee Benefits industry and sound knowledge of Life and Health Insurance
Capability
- Able to work independently
- Strong presentation skills
- Strong Interpersonal skills
- Strong Communications and Negotiation skills
Education
- Recognized university degree; or at least GCE ‘A’ level or Diploma with relevant professional insurance qualifications
- Capital Markets & Financial Advisory Services (CMFAS) Exams: Modules 5 & 9 (CLI, ILP equivalent).
- Certificate in Health Insurance
If you find yourself able to demonstrate the criteria above, apply with us now. We look forward to your application.
