Digital payments and financial services provider SeaMoney has announced its partnership with general insurer MSIG Insurance Singapore for the launch of a new comprehensive travel insurance product.
Geared towards Singapore-based travellers, the new insurance offering is available exclusively to Shopee customers. Through the offering, policyholders will be able to receive up to $400,000 in personal accident protection and up to $1 million in overseas medical expenses, which also includes hospitalization costs.
Travel inconveniences, trip cancellations, travel curtailments, and delays in travel and luggage are also covered by the policy, along with coverage for activities like hiking and marathons. Group travellers can also get coverage for up to 10 individuals in a single transaction.
For personal accidents, individuals can receive up to $400,000 in accidental death and permanent total disability coverage. They can also receive up to $1 million in overseas medical expenses and up to $2 million in emergency medical evacuation as well as repatriation.
For travel inconveniences, individuals can receive coverage of up to $10,000 for trip cancellations, while they can receive up to $5,000 for travel curtailments, delayed departures and lost or damaged baggage.
SeaMoney insurance director Yang Yang stated that the policy aimed to help Singaporeans access affordable insurance.
“This new travel insurance offering is designed to give travellers peace of mind so they can focus on what matters most, like creating unforgettable memories with friends and family,” said Yang.
MSIG Singapore CEO Mack Eng expressed his excitement over the partnership.
“This collaboration underscores our commitment to providing innovative and accessible solutions that cater to the evolving needs of modern travellers. By leveraging SeaMoney’s digital expertise, we aim to offer valued customers unparalleled convenience and reassurance, ensuring that they can travel with confidence and security,” said Eng.
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