Great Eastern offers self-help tool to assess protection gaps

It also allows them to compare existing coverage.

Great Eastern has launched a new app feature, My Protection Explorer, to help customers in Singapore evaluate financial preparedness.

The self-help tool enables users to review how well their current insurance policies cover hospitalisation, disability, critical illness and life protection. 

It also allows them to compare existing coverage with their desired level of financial security and receive recommendations for closing any gaps directly within the app.

Great Eastern said the feature was developed following research and focus groups, addressing a growing demand for personalised financial planning tools. 

Only 26% of Singaporeans seek professional financial advice, whilst 78% expect greater personalisation in financial services as technology advances.

Pilot users reported that the feature prompted them to reconsider their coverage needs and account for previously overlooked financial factors.