NTUC Income launches Singapore’s first subscription-based insurance
Insurance packages start for as low as S$5.
NTUC Income has launched TRIBE, Singapore’s first subscription-based and customisable insurance offering.
TRIBE allows users to purchase insurance directly based on a monthly insurance premium subscription. This means that customers can choose to start and stop their insurance coverage any time without penalty, effective the following billing cycle.
TRIBE offers what they call a TRIBE pack which are pairs of specially curated insurance plans that were crafted based on in-depth customer interviews. TRIBE packs are available in small plans starting at S$5/month, medium plans at S$10/month, and large plans at S$20/month sizes.
NTUC Income’s Chief Digital Officer Peter Tay said that TRIBE is specifically made to target those who need to have more control over their cash flows, namely first-time jobbers, gig workers, and new parents.
TRIBE is developed by NTUC Income, a direct Insurer licensed by the Monetary Authority of Singapore.