SINGAPORE - Media OutReach^[1] - 6 May 2021 - Today marks the launch of AMBER by Etiqa ("AMBER"), a retirement ecosystem by Etiqa Insurance Singapore^[2]. The new platform complements the insurer's growing range of financial solutions tailored to savings and retirement planning, by offering customers a more holistic approach to life in retirement.

A recent retirement study¹ conducted by Etiqa in collaboration with YouGov in October 2020 revealed inadequacies in the retirement planning landscape, namely with regards to retirement planning guidance, with 3 in 10 Singaporeans unsure how to begin, and solutions, with only 3 in 10 confident that CPF pay-outs can sustain their retirement lifestyle. Similarly, only 3 in 10 believed CPF pay-outs is sufficient to cover the potential medical costs of ageing.

As lives lengthen among the local ageing population and demand for retirement-oriented services continues to rise, AMBER seeks to educate customers about the importance and process of planning for retirement, as well as to provide viable methods to finance of a longer, more active and more fulfilling one.

Among Etiqa's present retirement offerings is ePREMIER retirement, a retirement insurance savings plan that provides a guaranteed monthly retirement income as well as the freedom to choose one's preferred retirement age and premium term. The policyholder enjoys protection throughout the policy term. Another soon-to-launch retirement product by Etiqa will provide coverage for age-related illnesses, and flexible retirement income options for policyholders.

Addressing in turn the physical and mental health aspects of ageing, the AMBER ecosystem also presents an array of retirement-related information and services to add value to the lives of pre-retirees and retirees. Etiqa's retirement survey¹ brought to light three pressing retirement needs among people in Singapore: to remain emotionally healthy and mentally able (98% in agreement), to be physically healthy (98%) and to be less dependent on others (97%).

Reflecting the organisation's motto, 'Humanising insurance', AMBER responds to these demands with Amber Adviser, a matching service to connect customers to available local service providers based on their unique needs, from nursing homes, caregiving and nursing care to professional services such as physiotherapy and dental care. AMBER members enjoy member rates on any services booked through the platform.

AMBER also features an itinerary of diverse curated activities, including arts and crafts workshops, and yoga and fitness sessions. While creative workshops help stimulate the mind, physical exercise helps to strengthen and condition the body, a potentially preventative measure against the physical inconveniences that accompany old age. Meanwhile, participating in group activities promotes social interaction, which can support emotional and mental well-being. Member rates are available on all curated activities.

In addition to these benefits, AMBER members also gain access to exclusive promotions, gifts and platform privileges. As AMBER continues to expand, customers can look forward to new features and services towards the end of the year.

Mr Raymond Ong, Chief Executive Officer of Etiqa Insurance Singapore, shares, "Etiqa believes in supporting and empowering our customers to build the future they deserve. 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."

Ms Jess Tan, Chief Distribution Officer, adds, "AMBER may be a new platform but the intentions behind it are certainly not. Etiqa has always been about more than just insurance, and this new channel will allow us to deliver tailored financial and lifestyle solutions to our customers more effectively."

As part of the launch campaign, the first 150 customers who register between 6 May and 31 July 2021 enjoy free credits of AMBER Dollars worth S$100 to spend on AMBER Retirement Ecosystem services, and Etiqa eWallet credits worth S$50 when they purchase Etiqa's retirement plan. Terms and conditions apply. More information about this promotion is available here^[3].

Better tomorrows begin today with AMBER by Etiqa. For more information, visit the AMBER Retirement Ecosystem at www.etiqa.com.sg/amber^[4].

Terms apply. Protected up to specified limits by SDIC.

¹Etiqa's Retirement Study was conducted by YouGov from 15 to 19 October 2020 surveying non-retirees in Singapore, with sampling based on the national representation of Singapore. The final sample size is 1,235, of which 1,158 are non-retirees.

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} Etiqa Insurance Singapore (www.etiqa.com.sg)
3. ^{^} here (www.etiqa.com.sg)
4. ^{^} www.etiqa.com.sg/amber (www.etiqa.com.sg)