Singtel’s Dash launches insurance savings plan
Singapore-based Singtel has launched an insurance savings plan underwritten by Etiqa Insurance Singapore and integrated into its mobile app Dash that launched in 2014 and counts over 1 million registered users.
The new Dash EasyEarn savings insurance adds financial services to the existing Dash mobile app, which currently provides payments, mobile data top-ups, e-commerce, lifestyle and remittance services. This insurance savings solution is designed for investors who want to start saving regularly for their future but who may be concerned about cash flow. They can start a Dash EasyEarn plan with a minimum initial premium of S$2,000, up to a maximum of S$20,000. Other benefits include up to 2% per annum returns for the first policy year, no lock-in period and unlimited withdrawals with zero penalties.
Purchasing and managing Dash EasyEarn can be done through Dash. To sign up, eligible users in Singapore only need to verify their personal details before topping up using their bank account to get started. Users can also perform top-ups at their convenience and opt to withdraw funds directly into their bank account or Dash wallet. Dash EasyEarn is open to eligible residents in Singapore and is available only through the Dash app.
“Dash EasyEarn represents the next steps for Dash as it grows to become a more inclusive everyday app that will play a bigger part in enabling our customers’ digital lifestyles. With Dash EasyEarn, customers can start growing their savings with greater convenience with a fully digital insurance product accessible on their mobile phones. We will continue to use technology to glean deeper business insights, better understand the needs and habits of consumers and bring them the products and services that they want.” – Mr Gilbert Chuah, Head of Mobile Financial Services, Singtel’s International Group.
“Dash EasyEarn was co-created by Singtel and Etiqa to meet the financial needs of digital savvy consumers, who increasingly seek simple and convenient solutions through all-in-one mobile apps. We are honoured and appreciate the opportunity to work with Singtel to close the distance between people, their money, and services. This strategic partnership epitomises Etiqa’s commitment to pursue financial inclusion through innovation and constantly deliver added value to our customers.” – Mr Dennis Liu, Head of Digital and Business Transformation and Technology of Etiqa Insurance Pte. Ltd.
As an insurance savings plan, Dash EasyEarn offers up to 105% of the account value in the event of death. The plan also offers security through its capital guarantee and allows users to withdraw their funds any time in case of emergencies, without penalties or any interest clawback.
