Connecting Dots Across Asia's Tech and Urban Landscape
Connecting Dots Across Asia's Tech and Urban Landscape

NTUC Income launches TRIBE, Singapore’s First Subscription-Based Insurance That Offers On-Demand Adaptability With No Lock-In Periods

NTUC Income (Income) today becomes the first insurer in Singapore that offers insurance in customisable subscription packs with no lock-in periods.

At launch, TRIBE offers three modular insurance packs – Essentials PackChild Pack, and Recovery Pack – and customers can subscribe to and customise their chosen pack based on their needs and desired insurance premiums. Via a user-friendly digital interface, customers can upsize and downsize their insurance coverage flexibly within each pack, as well as by mixing and matching insurance plans across packs to find a combination that is just right for them. Thus, TRIBE is offering a new way for customers to manage their insurance commitments on their own terms so that they fit changing lifestyles and financial circumstances.

Peter Tay, Chief Digital Officer, Income said, “Access to insurance and its affordability must be made available so that people can stay protected. Increasingly, we are seeing a shift to a low-touch economy, which is currently being fanned by the pandemic situation globally as people are changing how they interact with one another and with businesses. Cashflow constraints against the backdrop of a volatile economy is also heightening customers’ desire for greater control over what, when and how they purchase insurance, as well as the ability to customise and consolidate their purchases at a desired price point. TRIBE is, thus, our innovative response to such a call for on-demand adaptability.”

“We are bullish about the subscription model for insurance simply because it speaks to a customer as an individual and plays to his or her unique circumstance. TRIBE’s design to adapt on-demand is unparalleled in the industry. Globally, subscription businesses have grown five to eight times faster than traditional businesses as technology has enabled customers to get access to what they want immediately and with greater personalisation. In Southeast Asia, digital financial services are taking off with the market size of digital insurance projected to be at $7.6 billion by 2025. With TRIBE, and other new digital insurance models, we are excited and confident to seize new market opportunities and plug protection gaps in Singapore and regionally,” Peter added.

TRIBE offers unparalleled on-demand adaptability

  1. Flexibility – The Essentials PackChild Pack, and Recovery Pack are available in Small, Medium and Large sizes. Customers can upsize or downsize insurance plans within a pack as needed and are also allowed to start or stop their insurance coverage as required to fit changing lifestyles with no lock-in periods, annual contracts, or penalties for cancellation. For customers who look to build their insurance portfolio by subscribing to multiple TRIBE packs, they have the flexibility to mix and match insurance plans across packs to achieve their desired combination of insurance that fits not just their protection needs but also their budgets at any time.


  1. Adaptability – Customers can subscribe to an insurance pack starting from $5 per pack monthly. To enjoy higher insurance protection, customers can opt to pay premiums at $10, $20 or $40 should their budgets permit. With TRIBE, customers can simply adjust insurance plan sizes within each pack or across packs, to build a more relevant insurance portfolio based on their preferred budget.


  1. Convenience – The subscription process for TRIBE is simple and convenient. Consumers can self-serve and sign up for a pack on the TRIBE website and be insured in 5-10 minutes. They also have full control to change their insurance premiums and coverage anytime, by toggling between options on the TRIBE website.

“While TRIBE’s insurance packs are designed with specific personas in mind, such as gig economy workers, first jobbers and parents, the subscription offering is fundamentally built on offering customers choice and anyone can resonate with gaining more control over how they engage with and purchase insurance as they plug their protection gaps,” Peter elaborated.

Working with partners to bring TRIBE to relevant consumer segments
To date, TRIBE has partnered selected ecosystem players to provide value-added offerings to relevant consumer segments. For example, evolving Shopee Mum’s Club membership, from meeting shopping needs alone to a more holistic offering including financial needs. Consumers can also look out for other curated deals with partners such as EZ-Link, Helpling, LittleLives, Ohm Energy, Plus!, SAFRA, Speedoc, StarHub and Supermom.

For more details on TRIBE, please visit the website:
Or watch the TRIBE video:

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