Razer FinTech to collaborate with FWD Singapore to Bridge Insurance Gap for Youth and Millennials in Singapore
Razer FinTech has announced that it is deepening its collaboration with FWD Singapore (FWD), the leading digital insurance provider in the region, by providing insurance coverage to its users in Singapore as part of the recently launched Razer Card – a Visa prepaid card solution unveiled recently by Razer FinTech and Visa.
FWD will offer SNG100,000 complimentary term life insurance coverage to each of the first 1,337 users who qualify to be Razer Premium Card holders, Razer FinTech said in a press release.
Razer FinTech and FWD have been actively collaborating to serve the needs of the youth and millennials locally, the firms report. This collaboration on the Razer Card reflects the synergy between both parties and is an addition to the existing products from FWD (e.g. Covid-19 insurance plan) that have been made available via the Razer Pay app. In the coming months, other relevant insurance products such as cancer, critical illness and term life insurance will also be added to the platform.
Lee Li Meng, Chief Executive Officer, Razer FinTech, said: “We are excited to collaborate with our strategic partner to address and plug this crucial gap in insurance coverage for this segment. We believe that it is imperative for the youth and millennials to be adequately insured, in order for them to have a secured head start to life. This is the first of many initiatives to come where we look to further expand our product offerings to better support the needs of the underserved youth and millennials segment.”
Khor Kee Eng, CEO, Singapore, FWD, said: “FWD is glad to work with like-minded partners like Razer FinTech to change the way people feel about insurance. To this end, we’ve continually invested in the right technology to make the end-to-end process of getting insured simple, seamless and stress-free for our customers in Singapore, many of whom are also millennials and young working adults. In this regard, we are glad to be able to ride on our customer-led approach to benefit more people.”