Singapore-based broadband provider MyRepublic has launched a new insurance product aimed at serving hobbyists and collectors.
Developed in collaboration with HL Assurance, the new offering, called “Geek Insurance,” is intended to cover collectibles and gaming equipment, a segment often overlooked by standard home insurance policies.
The product offers protection for trading card games, figurines, limited-edition merchandise, comic books, memorabilia, and other personal electronic items against risks such as theft, loss, and accidental damage within the home.
Lawrence Chan, managing director and chief AI officer at MyRepublic Broadband, said the launch aligns with the company’s long-standing relationship with gaming and collector communities.
“At MyRepublic, we’ve long embraced geek and gamer culture as part of our brand identity. Geek Insurance is a natural extension of that commitment, offering collectors peace of mind through targeted protection,” he said,
He explained that Geek Insurance was developed to recognise the financial and emotional investment people make in their collections and provide coverage suited to those specific needs.
“Our own team is passionate about trading card games and collectibles too, so this is something that’s close to our hearts,” Chan said.
Kelvin Lim, CEO of HL Assurance, said the collaboration seeks to address gaps in the market.
“We understand the deep passion collectors have for their hobbies, and we’ve designed this product to offer the protection and peace of mind they deserve. This collaboration allows us to address a previously underserved segment in a meaningful and innovative way,” he said.
Geek Insurance policies are priced starting from SG$4.90 per month, offering up to SG$15,000 in coverage. The plan features a streamlined claims process and competitive premiums.
MyRepublic also plans to broaden its insurance portfolio later this year with a new home insurance product for a wider range of personal property coverage.
The launch comes as Singapore’s general insurance market is positioned for steady growth. Research from GlobalData projects that gross written premiums (GWP) will increase from US$6.0 billion in 2024 to US$8.1 billion by 2029, at a compound annual growth rate (CAGR) of 6.2%.
Despite a positive growth trajectory, GlobalData noted that economic volatility and geopolitical risks could pressure insurers’ profitability in the medium term.
Swarup Kumar Sahoo, senior insurance analyst at GlobalData, said that while opportunities remain strong, firms may need to adapt to external challenges to sustain margins.
