Singlife launches Connect 2.0 to support more insurance startups

Embedded solutions are a focus

Singlife launches Connect 2.0 to support more insurance startups

Insurance News

By Kenneth Araullo

Singlife, the Singaporean insurance company, has announced the launch of Singlife Connect 2.0, the second iteration of its accelerator program. The program, said a company news release, aims to foster growth in the insurtech sector by supporting up to ten startups and related ecosystem enterprises. The focus, said the release, is on developing embedded insurance solutions.

The program is open to insurtech and ecosystem startups that operate in or are planning to enter the Singapore market. Criteria for participation, said the release, include a B2C focus, direct distribution within Singapore, and propositions catering to specific areas such as gig worker insurance, employee wellness, physical and mental wellness, and financial literacy.

What happened the first time?

The first edition of Singlife Connect concluded in August 2023. The release said it saw the successful “graduation” of five startupsGetPaid, Outside, Octomate, Mito, and CHOYS – who now have live commercial offerings in the market.

Singlife Connect 2.0, suggested the release, represents a continued effort by Singlife to drive innovation and collaboration within the insurtech ecosystem, offering a platform for startups to develop and launch solutions that address emerging needs in the insurance and financial services sector.

“Singlife believes in the power of ecosystem collaboration and the value it brings,” said Varun Mittal (pictured above), Singlife’s head of innovation and ecosystem. “We are certain that the benefits reaped extend beyond the parties involved.”

He said Singlife 2.0 will build on the success of the first edition with a commitment to scale further and “launch co-curated and innovative solutions with participating startups.”

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