SNACK by Income pioneers lifestyle-centric insurance in Singapore

It was recognised at the Asian Experience Awards 2023 for its innovative approach to insurance, catering to Singapore's digitally-savvy generation.

In a remarkable feat, Income Insurance Limited clinched the Singapore Digital Experience of the Year - Personal Insurance at the prestigious Asian Experience Awards. This achievement highlights Income’s steadfast commitment to reshaping the insurance landscape and delivering inventive, accessible, and lifestyle-centric solutions to its clientele.

The Asian Experience Awards, renowned for its recognition of excellence in customer-centric initiatives, has lauded Income for its groundbreaking financial lifestyle application, known as SNACK by Income. The app, simply known as SNACK, has fundamentally transformed how individuals in Singapore interact with insurance and investments.

SNACK caters not only to the digitally-inclined generation, but also encompasses newcomers to the workforce and millennials, and underserved segments like gig economy workers. The app's ingenious approach fundamentally transforms how individuals in Singapore interact with insurance and investments by encouraging users to incrementally build their investments and insurance through their everyday activities.

Debuting in June 2020 with its micro-insurance and investment premium model, SNACK allows users to gradually accumulate their insurance coverage for Term Life, Personal Accident, or Critical Illness by paying micro-premiums from as low as $0.30, and start investing with as little as $1.

What sets SNACK apart is its seamless integration of insurance and investments into users' daily routines. Activities such as shopping, dining, using public transportation, or even watching a movie become triggers for determining when and how often users make premium payments. This newfound freedom and flexibility enable consumers to effortlessly protect themselves whilst enjoying their daily pursuits.

SNACK's user-centric approach empowers users with complete autonomy, allowing them to initiate, pause, or adjust their premiums at their convenience without incurring any penalty fees.

SNACK’s triumph at the Asian Experience Awards solidifies the pioneering spirit and dedication of Income to revolutionising the insurance industry, and is a testament to the brand's unwavering commitment to making insurance accessible, relevant, and adaptable to the unique lives of every individual.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].