Income Insurance Limited
Leading Singaporean insurer offering comprehensive life, health, and general insurance solutions
Income Insurance Limited is a Singapore composite insurer offering life, health and general insurance for individuals, families and businesses. Its website groups products under protection, wealth, corporate, travel, motor and lifestyle, including health insurance, life insurance, personal accident cover, savings and investments, employee group insurance, commercial insurance, travel insurance, car and motorcycle insurance, home insurance, domestic helper insurance and pet insurance. The company’s About page says it was established in Singapore in 1970 to address a social need for insurance, and now serves protection, savings and investment needs with a lifestyle-centric and data-driven approach. It also provides digital self-service through the My Income app and customer portal, alongside phone support, claims resources and branch appointment tools.
Income Insurance Limited, formerly NTUC Income, stands as a cornerstone of Singapore's insurance landscape since 1970. Their transformation from a cooperative to a full-fledged insurance company demonstrates their adaptability while maintaining their core mission of providing accessible insurance solutions. They've successfully balanced commercial viability with social responsibility, making insurance products available to diverse segments of society.
Selected for their outstanding commitment to social inclusivity while maintaining competitive insurance products. Their innovative approach to digital transformation, coupled with their deep understanding of Singaporeans' insurance needs, sets them apart. Their legacy of trust and continuous evolution in product offerings makes them a reliable choice for TheBestSG.
The editors' scorecard - 84/100
Strong social mission with inclusive insurance solutions
Efficient claims processing but room for improvement in customer service response times
Extensive digital platforms and physical presence across Singapore
Competitive premiums with comprehensive coverage options
Digital transformation initiatives but could be more aggressive in fintech adoption