Automobile Association of Singapore introduces proprietary motor insurance for new drivers

Asia Insurance Review | April 25, 2019

In partnership with Liberty Insurance Singapore, the Automobile Association of Singapore (AA Singapore) has launched a motor insurance policy for young or new drivers which is offered by its wholly-owned subsidiary AAS Insurance Agency. Dubbed 'Young or New Drivers Motor Insurance', the policy is designed for drivers below the age of 24 or new drivers with less than two years of driving experience. It is common for young or new drivers to face higher excess and premium on their motor insurance plans as they are commonly classified as one of the high-risk groups that are more likely to be involved in an accident due to their lack of driving experience. “Young or new drivers are deemed to be less safe than a seasoned driver as studies have shown that these drivers are more prone to being involved in road accidents. Often, accidents are a result of human error and we want to instil the right attitude to this group of drivers and help them to be safe on roads; by raising their risk awareness and understand how they should react under differing road conditions, thereby lowering their chances of a crash,” said AA Singapore president Bernard Tay.

Spotlight

As intelligent automation (IA) emerges as a best practice across numerous industries, insurers and technology service providers alike are racing to build out use cases for IA that streamline the various stages of an automotive insurance claim. While automation cannot be viewed as an isolated lever or standalone solution to bring efficiency and cost savings, when IA integrates with other channels, technologies and platforms, it unleashes its full potential.

Spotlight

As intelligent automation (IA) emerges as a best practice across numerous industries, insurers and technology service providers alike are racing to build out use cases for IA that streamline the various stages of an automotive insurance claim. While automation cannot be viewed as an isolated lever or standalone solution to bring efficiency and cost savings, when IA integrates with other channels, technologies and platforms, it unleashes its full potential.

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Harford Mutual Insurance Group Taps One Inc’s ClaimsPay® for Fast and Easy Reimbursement Experience

Harford Mutual Insurance Group, One Inc. | July 26, 2022

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P&C Insurer Digital Investments Cannot Offset Rising Rates, Finds J.D.Power

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