Tokio Marine Life Insurance Singapore nabs two awards at SBR Management Excellence Awards
The company has provided 24 policyholders with a lump sum financial assistance benefit of $5000.
Tokio Marine Life Insurance Singapore (TMLS) has received both the COVID Management Initiative of the Year – Life Insurance and Executive of the Year – Life Insurance trophies at the recently concluded SBR Management Excellence Awards.
Now in its 6th year, the awards event lauds individuals, innovators and teams whose initiatives have brought tangible business gains for the success of their companies.
TMLS officially launched its #goCare COVID management campaign in January 2020 and was the first Life Insurer in Singapore to provide financial relief to affected policyholders in the fight against COVID-19. To date, the company has provided 24 policyholders with a lump sum financial assistance benefit of S$5000 to each, in order to help them and their loved ones tide over the post-pandemic environment.
As a progression of the #goCare campaign, the two-prong programme extended care for the community and also demonstrated support for the healthcare heroes tirelessly braving the frontlines. The management team, staff and financial representatives contributed hands-on efforts to assemble the #goCare kits. 1000 kits each containing five masks, Vitamin C pills and hand sanitiser, were distributed to the elderly and the needy via Asian Women’s Welfare Association (AWWA), and also to TMLS’s staff and agency forces.
In tandem, the company also delivered a total of 2000 snack boxes to four structured hospitals, namely Sengkang General Hospital, Singapore General Hospital, KK Women’s and Children’s Hospital, and Changi General Hospital.
This was followed by TMLS’s most recent initiative where the company delivered and distributed 200 boxes of handmade mooncakes to the healthcare professionals and patients of Home Nursing Foundation during the Mid-Autumn Festival.
“The pandemic has most definitely impacted lives and livelihoods, with many reeling from the financial blows of pay cuts and job losses,” the company said. As a result, it extended further support to affected policyholders through #goCare Deferred Premium Scheme.
“By offering a six months grace period extension, we strive to ensure that their long-term protection needs will be taken care of during this trying period. Currently we have received close to 1000 premium deferment applications from policyholders who are undergoing financial hardship due to the pandemic.”
In view of the pandemic’s far-reaching impact, it has been extended for another six months until 31 March 2021.
For the company, it is imperative that it taps into its strengths and capabilities to offer reassurance. Being another innovative industry first, #go2gether Enhanced Protection and its upgraded version Plus, offers 24 months additional coverage for free, with the aim to protect policyholders as they regain their footing in the post-pandemic world.
“In our concerted efforts to make the idea of insurance appealing to all, we have taken swift action by commissioning new products (from 2020 onwards) with hashtags, #goInvest and #goClassic (for our investment-linked plan) and #goLifePro (our traditional whole life plan), with the aspiration of connecting with the digitally-savvy younger generations,” TMLS’s Chief Executive Christopher Teo said. “This is an integral part of our mission to be the #GoToPartner for all financial planning needs across all life stages.”
Coming on board in January 2019, Teo led a successful turnaround in the business during a time where the industry was experiencing stagnation.
“Our success today is very much attributed to us having a strong, family-like workplace culture, as well as good and motivated team players. I am thankful to have a supportive senior management team who are all aligned to my strategic direction and vision to grow our business. I am certain and confident that this is just the beginning of even Bigger, Better and Bolder things for Tokio Marine Life Insurance Singapore!”