Singlife with Aviva Introduces Accelerator for Insurtech Startups

Financial services company Singlife with Aviva has announced “the launch of Singlife Connect, its accelerator program to support and spur the growth of promising insurtech startups.”

Singlife Connect will “focus on developing scalable market solutions to innovate and transform insurance distribution.” Singlife will “leverage its expertise to provide opportunities for insurtech-specific ​​technical integration to create growth opportunities for the insurtech ecosystem.”

Varun Mittal, Group Head, Digital & Ecosystems, Singlife with Aviva, said:

“Customer are evolving and insurtechs have to enhance their offerings. Through strategic partnerships with insurtech startups, we hope that Singlife Connect will provide the right tools and platforms for insurtechs to grow with confidence and serve their customers with optimum impact.”

From ideation to strategy and implementation, successful applicants “will gain access to Singlife’s suite of products and insurance verticals as well as personalized mentorship to enable quicker customer discovery and receive the necessary regulatory and compliance support to effectively execute their go-to-market strategies.”

The program will initially “support up to eight early stage insurtech startups, with plans to evolve its operating model in the future to support startups with more complex needs.”

Singlife with Aviva “invites all insurtech startups who have a foothold in the Singapore market to join them on Singlife Connect today.”

Interested parties looking to join the programme can apply here.

As noted in another update, Amazon Web Services (AWS), an Amazon.com company, announced that Singlife with Aviva will be “going all-in on AWS by the end of 2023.”

Singlife will “migrate its entire information technology (IT) infrastructure to AWS to enhance Singlife’s digital capabilities, enabling the company to better meet growing consumer demands for hyper-personalised digital financial services, while also supporting Singlife’s environmental, social, and corporate governance (ESG) objectives.”

Prior to its merger with Aviva Singapore in 2022, Singlife built “a digital-first service model on AWS to support its consumers in Singapore and the Philippines.”

Now, as a merged entity with Aviva Singapore, Singlife is “closing its on-premises data centres and migrating its Aviva IT workloads to AWS.”

The depth and breadth of AWS’s cloud services will “provide Singlife with unified data capabilities that improve speed-to-market of new products and enhance the company’s digital workflows, ultimately powering all of Singlife’s new user interfaces to elevate the consumer experience for more than 1.5 million customers.”

Singlife needed “to build a consumer-first platform for seamless digital transactions and financial engagement.”

To unite the company’s data, which was stored in disparate environments that made building new consumer services challenging, Singlife built “a data repository with AWS Partner Snowflake, the Data Cloud company, using Snowflake’s single, integrated platform.”

This platform “helps Singlife securely load, integrate, analyse, and share data on AWS to make better data-driven business decisions.”

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