Campaigning for an Insurance Literate Singapore

Posted 22 May, 2016 by Surely
in Opinion

Singapore Kindness Movement.
Clean & Green.
Speak Good English.

These are some Uniquely Singapore campaigns that we have encountered in our life on this island.
While some may infer it as the government interference into our daily lives, it is undeniable that they mostly work.

If you remember this, you have an awesome .... memory.

If you remember this, you have an awesome …. memory.

Clean & Green campaign was the most vivid memory when growing.
Mainly because my mum coerced me into joining art competition whereby I had to draw and paint Captain Green.
Perhaps it has been more of a nightmare than a good dream but the campaign has worked beautifully.
I simply cannot litter.

When I could not find a dustbin, I would shove that tissue into my pocket.
I would forget about it and dump my clothes into the washing machine.
Much to the chagrin of my mum (kinda a poetic revenge !)

Captain Green - the man of my childhood.

Captain Green – the man of my childhood.


With the success of all these campaigns, I will think that a national insurance literacy movement should be our next step of evolution.


Singapore Insurance Today


We have a nice mix of CPF insurance in Singapore here.
Medishield Life, Dependency Protection Scheme (DPS), Eldershield, etc.
In addition, the various insurance companies offer a myriad of products that are catered to the protection needs of our population.

However, when you ask a random dude on the street, he will have a hard time explaining what insurance is.
It is such a shame that this is happening.


His Airness reaction when asked about insurance.

His Airness’ reaction when asked about insurance.


95.9% of our population are listed as literate.
We are highly educated but not in the insurance sense.
And insurance is not something you should remain ignorant about.


National benefit


Life insurance is something that we obviously are hot about.
Providing an insurance education is what we are trying to achieve here.
We think that the government may find it beneficial to do likewise.

Improving the insurance literacy is more important than financial literacy in my opinion.
Preparing for retirement is a good concept.
However, planning for the protection of your loved ones and yourself is simply divine.


"Love is about naming me as the beneficiary."

“Love is about naming me as his insurance beneficiary.”


Our government has always encouraged us to be self-reliant.
That is what insurance does.
By having the financial means to tide you over the difficult periods of your life makes one truly independent.


Weeding out the bad agents


The public often begrudges the insurance agents for mis-selling and pushy sales tactics.
However, giving the public the power of knowledge will lessen the chances of that occurring.
Not only that, it will help to improve the overall standards of the insurance salesmen.

Like any other industry, there are black sheep amongst the insurance salesmen.
Remember this touching WorkRight video by MOM?



By knowing one’s right under the labour law, the employee has the ability to look out and identify bad bosses.
Improving the nation’s insurance knowledge will have a similar effect.
A crooked insurance agent will no longer be able to peddle his lies to get business.

This will be welcomed by  the good ones in the insurance sales industry.
An insurance literate population will appreciate the great service rendered by the well-intended & knowledgeable financial advisers.

Every person who joins the insurance industry will know that the public expects more from them and has to be more competent.


How to campaign


A good campaign must target the right audiences.
This is not a general carpet-bombing kind of event.
The tertiary students may be the first one to be reached out upon.

National quiz and celebrity endorsements are some other ways to outreach the public.
All I remember about the Speak Mandarin campaign is Hossan Leong’s 华语 Cool !


In any case, the government has been largely successful so they already have the know-all to get it right.


Dreaming it up


The existing problem in the insurance industry does not just stem from the sellers.
The buyers must also take personal responsibility for their own insurance.

We envision a future whereby insurance sales will be more professional as the public are more insurance-savvy.
We want a Singapore that is able to take advantage of its education superiority and take care of its own insurance needs.

Hopefully,  I shall love to draw Captain Insurance in a senior citizen art contest in the no-too-far future.

A brighter future

A brighter future aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

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