The Gen XY Lifestyle
Etiqa Insurance launches a retirement ecosystem called AMBER
AMBER by Etiqa is a retirement ecosystem created and launched by Etiqa Insurance Singapore.
Etiqa and YouGov collaborated on a retirement study in October 2020 and found inadequacies in the retirement planning landscape. 3 in 10 Singaporeans were unsure how to begin retirement planning. A similar proportion (only 3 in 10) were confident that CPF pay-outs can sustain their retirement lifestyle. However, on the other end of the spectrum, only 3 in 10 believed CPF pay-outs are sufficient to cover the potential medical costs of ageing.
The retirement study identified 3 important retirement needs among people in Singapore:
- Remain emotionally healthy and mentally able (98 percent)
- To be physically healthy (98 percent)
- Be less dependent on others (97 percent)
The new AMBER by Etiqa platform complements the insurer’s range of financial solutions tailored to savings and retirement planning, by offering customers a more holistic approach to life in retirement.
The platform and ecosystem will provide customers with information and content about the importance and process of retirement planning. It will share viable methods of financing a longer and more active life.
AMBER by Etiqa aims to help Singapore’s pre-retirees fill any gaps in their retirement plans, and give access to solutions for a happier, healthier retirement.”
Mr Raymond Ong, Chief Executive Officer of Etiqa Insurance Singapore
One example is ePREMIER retirement. This is a retirement insurance savings plan that provides a guaranteed monthly retirement income. Customers can choose their preferred retirement age and premium term. The policyholder enjoys protection throughout the policy term.
AMBER by Etiqa Offerings
To address the physical and mental health aspects of ageing, the AMBER ecosystem presents a variety of retirement-related information and services. These services look to add value to the lives of pre-retirees and retirees.
Amber Adviser is a matching service to connect customers to available local service providers based on their unique needs. These service providers range from nursing homes, caregiving and nursing care to professional services such as physiotherapy and dental care. AMBER members that book any of the services through the platform will enjoy member rates.
AMBER features an itinerary of diverse curated activities, such as arts and crafts workshops, and yoga and fitness sessions. Member rates are similarly available for all curated activities.
AMBER members will also receive exclusive promotions, gifts and platform privileges.
Launch Promotion
The first 150 customers who register between 6 May and 31 July 2021 will enjoy free credits of AMBER Dollars worth SGD 100 to spend on services. They will also receive Etiqa eWallet credits worth SGD50 when they purchase Etiqa’s retirement plan.
Photo by Anukrati Omar on Unsplash
