Singapore bank revamps in-app travel insurance amid growing demand

Expansion of other insurance offerings also in the works

Singapore bank revamps in-app travel insurance amid growing demand


By Kenneth Araullo

Singapore-based Trust Bank has announced a relaunch for its travel insurance product amid the growing travel demand in the country after the border’s reopening.

The travel insurance product can now be purchased directly on Trust Bank’s app. Previously, it was only available to customers on a separate platform on the app.

In a report from The Edge Singapore, Trust CEO Dwaipayan Sadhu also announced zero foreign exchange markup on overseas transactions, as well as a tentative pipeline for the rest of the year. This includes an instant loan product, enabling GIRO payments, introducing in-app self-services, as well as expanding its insurance offerings. Currently, the bank also offers up to SGD8,000 for accidental death and permanent total disability for a policyholder and dependents.

Elsewhere in the country, the insurance and finance sector fell by 0.9% in the first quarter due the weak performance of its life insurance sector, which posted 46.3% lower sales on a quarter-on-quarter basis.

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