Insurtech Spreads to Singapore with Carrier-Backed Accelerator

NTUC Income, the largest insurer in Singapore, is promoting insurance technology startups with an accelerator project.

Working with the country's Infocomm Development Authority, NDUC Income will accept 12 insurance startups into an 11-week program, with a S$28,000 grant to develop and demonstrate their product, according to a report in Singapore's Business Times.

The Business Times report says that there will be six main areas of focus for startups:

• Enhanced claims experience and processing
• Fraud detection in claims
• Needs analysis for customers
• Robo-advisors
• Peer-to-peer insurance
• Customer data analytics