today, david choo (managing director of promiseland independent pte ltd) and myself sat down with a management staff of the largest life insurer (in the country of origin) and discussed the probability of being one of their partners in distributing their products.
the person who met us disclosed that they have received in-principle approval for a life licence (pending meeting other requirements) to doing business in our tiny red dot nation. he also shared that our regulator (meaning the monetary authority of singapore) has been pretty strict but very transparent.
my comments:
when i joined the industry 15 years ago, an agency leader from a large insurance company warned me that the insurance business (at that time) is already saturated.
if this is true, why are there foreign insurers who continue to eye singapore and seek to do business here?
i reckon more insurers here will translate into ever more choices for consumers and it is definitely more positive than anything else.
No comments:
Post a Comment