A study on the current problems faced by the Singapore life insurance industry

• Main Authors: Ho, Puay Chin, Seah, Kok Tiong, Wee, Soon Ann
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Business::Finance::Actuarial science
• Online Access: http://hdl.handle.net/10356/55497
• Institution: Nanyang Technological University

The Singapore life insurance industry has been growing at a tremendous pace, but along with the growth, there exist many problems which seemingly have not been dealt with sufficiently. There could be many reasons associated for this seemingly lack of concern, but the truth is that these problems have to be solved before the industry can progress in a healthy manner. Thus, in this report, some light regarding the current situation is shed in order to assess the overall situation. This is explicitly brought about by two case studies reflecting the challenges faced by two different companies that have been chosen to represent the effects of these problems. Some solutions have been put forth, paying special attention to the similar experience encountered by foreign countries and the advice from several actuaries currently practicing in Singapore.