MoneySmart has launched its own insurance brand Bubblegum for its customers in Singapore, targeting the younger generation of digital natives. The brand is starting out by focusing on car and travel insurance products.
Bubblegum allows its customers to purchase, manage, and make claims quickly online. But the company has ensured that the process is transparent and simple so customers can fully understand the plans they are purchasing without relying on an agent.
The travel insurance policy includes additional Covid-19 protection, like overseas medical expenses, which other policies don’t have but are a similar price, said the company.
In terms of car insurance, Bubblegum has stated that its car insurance product is nearly S$300 cheaper than its competitors’ policies and offers benefits such as accounting for fire damage, theft, third-party liability, and personal accident coverage. Additionally, it offers engine and gearbox malfunction coverage up to S$5,000, without a prior inspection required.
Bubblegum is exploring additional products in the future such as home content, term life, pet care, and health insurance cover.