UOB Asset Control (UOBAM) and NTUC Source of revenue (Source of revenue) lately introduced their tie-up to toughen the accessibility of on-line company making an investment services and products. Below the collaboration, Source of revenue’s company consumers can simply get entry to UOBAM Make investments1, Singapore’s first virtual advisory carrier for company buyers, on BIX, Source of revenue’s company insurance coverage self-serve platform. UOBAM is the primary spouse on board BIX.
This collaboration between UOBAM and Source of revenue objectives to assist companies to turn out to be extra environment friendly in managing their investments and insurance coverage wishes on-line, thereby giving them extra time to concentrate on different operational issues.
Virtual funding services and products akin to UOBAM Make investments are rapid gaining traction in Singapore and different markets akin to Malaysia and Thailand because of the greater call for from company buyers for answers that allow them to self-serve and to control their portfolios in real-time2. UOBAM Make investments has noticed a 250 % build up within the selection of company buyers in Singapore because the onset of the COVID-19 pandemic3, and this quantity is anticipated to develop.
Mr. Thio Boon Kiat, Leader Govt Officer of UOBAM, stated, “At UOBAM, we’re continuously looking for new techniques to democratize making an investment throughout other shopper segments, together with to have interaction and to assist company buyers with their funding wishes. Via our collaboration with Source of revenue, extra firms can simply faucet our funding experience and finances presented thru UOBAM Make investments to extend their liquidity or to develop belongings to satisfy their economic wishes and objectives. Going ahead, we are hoping to paintings with extra like-minded firms to extend the touchpoints that company buyers can get entry to our virtual funding services and products and merchandise in a easy and seamless method.”
With UOBAM Make investments, company buyers can make a choice both the Virtual Adviser or the Fund Direct carrier, either one of which provide them the selection to self-serve and to make their very own funding selections. Via Virtual Adviser, company buyers will obtain a custom designed funding proposal made from UOBAM-managed finances and international exchange-traded finances, according to the corporate’s chance profile. Conversely, the ones which can be on the lookout for a extra impartial method can construct and organize their very own funding portfolios throughout the Fund Direct characteristic4.
BIX is Source of revenue’s proprietary platform for its company consumers to customise their insurance policy in step with their industry wishes. It additionally makes the acquisition and endorsement of company insurance policies, in addition to the fee and claims procedure, more effective with fast quote technology and virtual bills choices. Greater than 3,000 company insurance coverage insurance policies had been issued thru BIX throughout the first six months of release in early 2021.
Mr. Andrew Yeo, Leader Govt Officer of Source of revenue, stated, “Our consumers lately want extra regulate in dealing with their insurance coverage issues, and wish extra handy and environment friendly techniques to take action. BIX helps our company consumers – in particular small- and medium-sized enterprises – simplify the processes and reduce down the time taken to control their industry’ insurance coverage wishes. We have now won a large number of certain comments from consumers on the usage of BIX since we introduced the platform previous this 12 months. We goal to develop BIX right into a industry answers platform the place, excluding enjoyable their industry insurance coverage wishes, our company consumers too can achieve get entry to to different economic and non-financial services and products that can convey worth to their industry, and we’re proud to have UOBAM onboard as our first spouse.”