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Singlife and GXS Bank Collaborate to Offer Investment Insurance

Banking and Insurance

Business Honor - Singlife & GXS Bank Collaborate to Offer Investment Insurance

Business Honor
17 July, 2025

Singlife and GXS Bank are working together to combine insurance with digital investing for easy, secure wealth growth and protection in a single platform.

GXS Bank and Singapore-based insurer Singlife are working together to combine insurance with GXS Invest, the bank's new digital investment platform. Customers can easily invest and get security in a single spot due to their collaboration.

The Fullerton SGD Cash Fund (Class G), a safe investment fund, is being introduced by GXS Invest and is accessible through the GXS Bank app. Singlife will offer free group insurance for accidents to customers who invest in this fund. Also offering investors extra security in their finances without requiring them to buy a separate plan by protecting them from accidental death and total permanent disablement.

The coverage has a maximum limit of S$100,000 (about US$77,843) and is up to three times the invested amount. An investment of S$30,000, for example, will provide up to S$90,000 in insurance, securing the investor's income and goals. According to Varun Mittal, Head of Innovation & Ecosystem at Singlife, investment should focus on security rather than considering it as an accident. Mittal explained that by using GXS Bank's digital platform, Singlife has the ability to offer insurance at the exact moment customers choose what kind of investments to make, so creating an opportunity for the collaboration of insurance and investment.

In Singapore's financial market, the insurance and investment services are offered separately, this collaboration covers the gap. Customers can now use a single product for both growth and securing their cash. The collaboration also contributes to Singlife's overall goal of combining insurance with digital services, like employee wellness programs and health memberships, to make security easier and more relevant for customers. This approach has an opportunity to influence the direction of banking in the future.