Hindrances of Insurance Markets in Singapore (2017 Update)

Hindrances of Insurance Markets in Singapore

Insurance companies thrive well in a favorable climate where the government comes to play and equally regulates all the players in the industry. However, according to a PricewaterhouseCoopers report of 2015 on a study of insurance companies in Singapore, they found out that the major challenges in the market included over regulation, cyber crime, change management and natural catastrophes

Over regulation

Most insurance managers noted with a lot of concern that Singapore was very strict when it came to issues relating to rules. There were so much unacceptable things than those allowed, and that was a very significant business threat to the economy. The study was conducted, and over 806 people were involved, and their widespread concern was that the country had more and onerous regulations compared to other neighboring countries and some even threatened to go to those countries. The exit by most insurance companies from Singapore’s markets means that the populace will not have any insurance and there will be a lack of investments leading to a decline in the economy growth.

Cybercrime

Insurance companies were quick to admit that technology is growing at a very fast rate, especially in Singapore. However, some individuals were using computer technology to access personal information which is for malicious purposes. In some cases, these people would even hack the online accounts and get all the information regarding finances of a particular company and go to the extent of diverting the money in some dubious means. This was a huge threat which caused the insurance sector in Singapore to be ailing.

 

Change management

The biggest problem of individuals is the fact that they are reluctant to change. There are various changes in a business environment which are ultimately meant to increase the profitability of the firm. For instance, when a new management team is brought to an insurance firm people will tend to disobey them because they are new to the region. This stalls growth and therefore, the employees cannot work a team to actualize the goals of the company thus being major hindrance insurance businesses in Singapore face.

 

Natural catastrophes

Due to urbanization, there may be a lot of climate change. Climate change causes a lot of emissions to the air. For example, smoke. This may discourage people in this case, clients from coming to your business premises. This is because of the fear that they may be affected by the smoke being emitted by companies in the area. This has been a major challenge facing insurance companies in Singapore. Therefore, posing a significant threat to the growth of insurance enterprises in the region


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11 thoughts on “Hindrances of Insurance Markets in Singapore (2017 Update)

  1. Eric Hellberg^I’ve Lifeguarded for coming up on 3 years and have always loved having a visor. I recently moved to California&#44 and even more recently got a job Lifeguarding. When I was searching around Amazon for a new visor&#44 I decided on this one. I chose this model because it simply says ‘Lifeguard&#44’ rather than a few other models that had crosses next to the embroidery (+Lifeguard+). I just received mine in the mail today&#44 and upon opening the package I was sad to see my visor has crosses on it.I know&#44 it’s not the end of the world. I’ll probably get used to both of these minor details&#44 but I’m pretty disappointed to have received a product different from the one I ordered. After trying it on for the first time&#44 it seems to fit a little larger than I would like. I haven’t even been in the water yet and I’m already a little salty about my purchase.~4|cliveyboy^Perfect all round – thank you~5|Amazon Customer^Fits nicely. Great for work and am planning to use it for the next 4 years on the job~5|Amazon Customer^My daughters love them!~5|cathy figliomeni^This is exactly what I was wishing it to be!~5|wrenejr^Perfect for what I needed~5|Brian B.^love this hat&#44 I own two of em~5|Travonte A Bax^Great~5|Amazon Customer^Fits perfect looks nice~5|Amazon Customer^Prefect fit~5|KellieClod^Bought to go w/my Where’s Waldo costume. Light weight but not cheap. Looks perfect! Can’t wait to wear it! Thanks!~5|Alexandra Miller^This didn’t arrive in time for my Waldo costume&#44 but looks great!~4|Eross^We loved our “Waldo” beanies 🙂 easy costume&#44 just add a striped white and red shirt and this beanie. Bam. Where’s Waldo. Really comfy.~5|S. Hook^Once again&#44 I bought this hat for my husband’s Waldo Halloween costume. It was perfect!! He has a rather large head and this hat fit&#44 which is more than I can say for the ones that they were selling in the Waldo Halloween costumes at Halloween Express. The hat is also durable and great quality. It is hat quality&#44 not costume quality. The hat really helped make the costume&#44 and he looked great! I would certainly recommend this hat for the Waldo costume for if you just want a winter hat. You can’t beat this hat with the price either. All around a great Waldo buy!~5|Alyssa Ives^This hat is great quality&#44 I will definitely be wearing it throughout the winter. However&#44 I did purchase it for my “Where’s Waldo?” costume for Halloween&#44 and was a little apprehensive about spending a couple extra bucks on this hat as opposed to the cheapest available on amazon. Let me just say that it is DEFINITELY worth the extra $3-$5 as you can reuse this item continuously. Shipping was speedy&#44 item came in perfect condition. Very pleased.~5|Ashley Gill^:)~5|Andrea Ferraro^Chilly willy costume success~5|Fuzmeister^Honestly&#44 this hat is durable and would work well for just an everyday hat without requiring a costume to go along with it. The biggest issue that I have is that once I put this hat on&#44 I can’t find myself!~4|Amazon Customer^This hat is perfect — it is very thick and durable. I used it for Halloween and then I used it during the winter&#44 and I even wore it when I went skiing~5|D Call^Good quality. Perfect for my daughter’s costume.~5|

  2. LeesaRN^Great look&#44 fair pricing&#44 good fit. This is my 4th Enzyme Regular Solid Cap. Have the black&#44 grey and khaki. Was tired of baseball caps&#44 and I like wearing something on days I am not working and don’t feel like messing with my hair too much or for a day at the beach. So I tried these. I like the adjustability of these&#44 the fit is great&#44 no worries about the wind blowing it off. Price is right. Good quality caps too&#44 have had my first for over 6 month and it is looking great. As always two-day Prime shipping is great.~5|angela darby^WORKS WELL WITH MY SUN SCREEN.~5|Amazon Customer^It’s a painter’s hat…what else could it be for God’s sake? I thought it would give me sort of a George Plimpton ivy-leaguer slumming in albino Vietnam look. I couldn’t pull if off&#44 so here I sit&#44 in bitterness&#44 with this damn painter’s hat. Now I know how Hemingway felt in his last moment.~3|Jane Howard^Fabric is soft&#44 easy to sew on should you choose.I like the velcro backstrap. I do not like plastic ones&#44 and that is why I ordered this cap. I would do it again and recommend to others. I have not tried to wash yet&#44 so I cannot attest to that aspect of the product.~5|Eagle711^I love this hat and have it in several colors. It fits my head much better than the typical baseball or golf hat because of the deeper crown construction. It sits down lower over my eyes for better sun protection&#44 and it’s just nicer looking all around.~5|Erik James^Basic and Fits~5|Carol Christian^This is a great cap!! Size is adjustable. I may order in more colors — that’s how much I like it!~5|Amazon Lover^Love this little hat. Easy to throw on when it’s one of my bad hair days. Can’t beat. Does the job.~5|Mary-Bug^Nice hat&#44 fit well&#44 nice adjustment feature&#44 seems of good quality.~4|JoAnn Talbot^Love this hat. I order the plain colors to allow me to add my own design. Fits great and good quality.~5|LeesaRN^Great look&#44 fair pricing&#44 good fit. This is my 4th Enzyme Regular Solid Cap. Have the black&#44 grey and khaki. Was tired of baseball caps&#44 and I like wearing something on days I am not working and don’t feel like messing with my hair too much or for a day at the beach. So I tried these. I like the adjustability of these&#44 the fit is great&#44 no worries about the wind blowing it off. Price is right. Good quality caps too&#44 have had my first for over 6 month and it is looking great. As always two-day Prime shipping is great.~5|angela darby^WORKS WELL WITH MY SUN SCREEN.~5|Amazon Customer^It’s a painter’s hat…what else could it be for God’s sake? I thought it would give me sort of a George Plimpton ivy-leaguer slumming in albino Vietnam look. I couldn’t pull if off&#44 so here I sit&#44 in bitterness&#44 with this damn painter’s hat. Now I know how Hemingway felt in his last moment.~3|Jane Howard^Fabric is soft&#44 easy to sew on should you choose.I like the velcro backstrap. I do not like plastic ones&#44 and that is why I ordered this cap. I would do it again and recommend to others. I have not tried to wash yet&#44 so I cannot attest to that aspect of the product.~5|Eagle711^I love this hat and have it in several colors. It fits my head much better than the typical baseball or golf hat because of the deeper crown construction. It sits down lower over my eyes for better sun protection&#44 and it’s just nicer looking all around.~5|Erik James^Basic and Fits~5|Carol Christian^This is a great cap!! Size is adjustable. I may order in more colors — that’s how much I like it!~5|Amazon Lover^Love this little hat. Easy to throw on when it’s one of my bad hair days. Can’t beat. Does the job.~5|Mary-Bug^Nice hat&#44 fit well&#44 nice adjustment feature&#44 seems of good quality.~4|JoAnn Talbot^Love this hat. I order the plain colors to allow me to add my own design. Fits great and good quality.~5|

  3. Michael^I like the style of these tees&#44 especially the layered look at the neck&#44 but I couldn’t get the sizing to work for me. I wanted these primarily for layering. The medium (my usual size)&#44 was too loose&#44 so I re-ordered in small. The fit through the body was fine (tailored&#44 but not tight)&#44 but the shirt was too snug around the neck. I think these are designed for a loose&#44 relaxed fit&#44 so if that’s what you’re after&#44 order your normal size. If you’re looking for a tailored or slim fit&#44 you’ll likely be disappointed&#44 and ordering one size down won’t help unless you’re okay with a snug fit around the neck.~4|Leigh^Bought this for my son. He is about 6 foot 2&#44 weighs around 185. He prefers his t-shirts to go a couple inches past the waist of his jeans and this one fits him just like the picture. It is a soft shirt that washes well and keeps it’s shape after numerous washings. He has this grey one and a blue one and likes both. I will be buying more of these when he needs them.~5|No name^I have been wearing Izod t-shirts for years and these are not the same material. These are a cheep imitation of the good Izod cotton t-shirts. I would have returned them but I washed before wearing thinking they were as all my other Izod t-shirts.WOULD NOT PURCHASE AGAIN.~4|BB^Ok&#44 I bought some of the cheap T shirts when my Jockey’s got holes. I also bought a couple of the IZODs.What a difference. The IZOD feels good when it goes on. The fabric is soft&#44 it fits well and looks fine. Spend a bit more and get these… I feel better when I have them on.~5|James M. Gallagher^2X shirts can sometimes be a little tight for me&#44 especially the cheaper ones&#44 but these fit perfectly. I am so pleased with the fit and the feel that I am going to order a few more.~5|Kindle Customer^As the picture of the model shows&#44 this fits much looser then most of us would want. I normally order a medium size&#44 but in this case the small size works great for me. I have ordered three in the small size&#44 since this is a very excellent T-shirt if ordered one size smaller than normal. I particularly like the neck sizing&#44 which is not stretched out and oversized as so many others are.~5|Andrew M.^My new favorite Tee. Love the neck&#44 stays tight and doesn’t sag. Soft material&#44 washes well. I will be ordering more colors.~5|Joe^I like the extra material at the neck. Keeps the neck from drooping~5|David B^Fits as expected for size but the shirts are way too long. I’m 6′ 1″ and the XL shirt hangs below the crotch area.~3|Reeta C^My husband is a stocky built guy and the IZOD Tshirts fit him nicely. The fabric is excellent quality&#44 soft&#44 not too heavy…I hang them up right out of the dryer and they look good as new for several months…if not years…and he wears them often! I hope IZOD keeps offering the earthy – neutral colors…as my hubby is now in his 60’s and not too into the bright lime-green&#44 etc type of colors!~5|

  4. Johnson^I followed the advise from the other reviewers and ordered a size up. My slim daughter wears a 6x-7. I ordered both the 7-8 and the 10-12. After washing&#44 the 7-8 will fit for the next month or so. It is long enough&#44 but is snug across her chest and tummy because of the cut. The 10-12 fits slightly big this year&#44 but will fit again next summer. Because of the flattering cut&#44 even a little big&#44 it looks adorable on her (not too baggy).~5|Lulu Moretti^My 9 year old has very definite ideas about her ‘look’. For starters&#44 her tee shirts must bear NO GRAPHICS. They must be soft and comfortable. They must be: yellow or pink or orange. We looked at every store&#44 every online source we could find&#44 and&#44 at last&#44 we discovered Clementine. Perfect. PERFECT!!!! The colors&#44 the softness&#44 the fit. Beyond perfect.I think I’ve bought six of these beauties so far. They’ve gone through the wash and come through PERFECTLY. She is a tough little customer to please&#44 but her Clementines are truly LOVED.~5|Wendy Miller^As other reviewers have said&#44 this shirt run small AND is 100% cotton. BUY A BIGGER SIZE! (my daighter is a size 8. I ordered the 8/10 and it was tight on her before washing. I ended up getting the 12/14.) Having said that. this is an awesome shirt. It is fitted and cute and oh-so-soft because it IS 100% cotton. My daughter loves it!~4|Dean Emmerson^Nice enough shirt&#44 good colors. Unfortunately&#44 it is very form fitting in the arms&#44 torso and chest&#44 even for a fit child. We sent it back.~3|AJM^Super soft and comfy. Color exactly as pictured. Runs pretty small – slim cut. I ordered a 7-8 for my just turned 5 year old who weighs 42 lbs. and typically wears a size 5-6. The fit is loose enough for her to be comfortable and it is long – goes below her bottom. We are using as a PJ top so its perfect for us.~5|Monique D^Pretty color orange&#44 especially on summer tan skin. It’s thin but not cheap. Stretchy so doesn’t stretch out of shape with play. Fits well for a girl since it’s a little bit longer than a standard tee but isn’t abnormally long either.~5|Melissa M.^Fit was a bit small&#44 but okay as it is for dance anyway and needs to be a bit tight. Had a few loose threads when we got it&#44 but otherwise an okay purchase.~3|Jane L.^After reading other reviews&#44 I ordered larger than normal and was glad. It fit great and I liked that it was a slim fit. My granddaughter is tall and thin and this top fits nicely instead of being so baggy. It is also longer in the torso – another plus.~5|SCBFSU^Cute&#44 basic shirt. I runs a little small/has a fitted fit that you don’t usually see in kids clothing.~5|FamilyFirst^This is a rockin awesome white shirt. We ordered two of them and were very impressed. I ordered up and I’m glad I did because one size bigger gave the girls room to breath without the shirt being too big. We used tie-dye and iron-on vinyl and were very impressed with the results. Girls loved their shirts and have worn and washed them numerous times. Great results each time.Nothing negative about these shirts.Great fitGirl cut and designRound NecklineNice longer length- but not too longSoft cotton wearCrisp clean white colorI’d order these again!I have posted picts of these shirts in action and the product we used to tie-dye them.~5|

  5. Jason R^The original fit from the manufacturer was snug&#44 but was alright for my slight 32″ waist 36″ chest build. But one run through the wash and now it’s a children’s medium. I literally can’t wear this now. Guess that’s what I get for buying cheap.~3|Pjw.^Cheap junk it torn in both arms in seam after first wash. But did fit correct. So if you plan on not wearing it or washing it then buy it~3|Dave Mozealous^Why is it so hard to find thermal that doesn’t shrink vertically. This thermal is great before washing&#44 but even the large is too small for a 5’11 man after a single wash.~3|BGS^Love this! Ordered for me and couldn’t be happier! Arrived quickly and exactly as I was hoping for!~5|T. Shea^Bought this in blue and it was perfect. Decided to get it in white and I’m really disappointed. It’s tremendous. Label says medium but it fits like an XL. Washed it and put it away in anticipation of the cold weather and never thought to try it on because it fits so perfectly in the other color.~3|ninja4hire^its a good fit at first&#44 but be careful washing it.~4|Will^nice~5|James C.^Great~5|Amazon Customer^Snug~5|Tony K^Very thin fabric. Bought XX large fearing shrinkage&#44 instead after the first wash in cold water &#44 the fabric just stretched out so much that is became unwearable.~4|

  6. Xen8^Runs somewhat small. I am a size 29 (between 28 and 29) in all jeans and shorts&#44 and the size small was snug.I like ‘loose/comfortable snug’&#44 and so I eventually just stretched ou the waistband by putting it over a wooden board.It now fits great&#44 but I prob. would have gone with a medium if I had known it ran small.~4|Bob Macky^Smaller than other Med Adidas soccer shorts I own~3|Amazon Customer^Great fit and overall product.~5|Christi Hartley^Perfect~5|

  7. Yogi^I normally wear a Large in button up shirts (XL in t-shirts and polos)&#44 and this Large fit just like any other Large button up. I ordered the dark charcoal and royal blue short-sleeved industrial shirt&#44 and the color is as described&#44 but is much darker than the almost silver shown in the picture. I figured black would be too hot for summer days&#44 but this shirt is nearly black. It had a strong chemical smell when it arrived&#44 so I hand washed it and it was dry and most of the stink was gone by morning. I really do like this Honduras made shirt and it looks great with jeans. I think you would be hard pressed to find a retro looking shirt like this with chest pockets&#44 including a handy pen pocket. In this style a critical part is the bottom button has to be low enough&#44 so when the wind blows your gut isn’t showing&#44 this button is low enough to protect everyone’s eyes. I will put it through a normal washer/dryer cycle to see how it comes out&#44 but I am pretty sure I will order a couple more. It is a real bargain.~5|Signal Scout^Seems to be of the same reasonable quality level as other Dickies work shirts I own. Pretty cool looking. Fit across the gut is significantly tighter than my other products of the same brand and size. Choose carefully.~3|Sean^I bought this shirt and was satisfied with the loosness of how it fit. The colors are great for cordinating with my DG shoes. I love how it has two front pockets that button.Resonable price. Fast delivery and perfect packaing job.This shirt material seems very itchy at times. I do not know if after I wash it that some of the starch may wash out so that it not as itchy or stiff.I do like the shirt alot and will return or order from this company in the near future for myself again.Although the price could have been more reasonable perhaps 10 dollars cheaper.Discounts on these shirts would attract many more custumers.Great service. I’m pretty happy wearing it around.~5|Stacey^For some reason&#44 these shirts are a whole size smaller than other Dickies work shirts. Buy a size bigger than what you wear.~3|Joseph G. Wood^well worth the money&#44 great shipping&#44~5|Richard Hatcher^great fast service and the product is very good~5|Amazon Customer^Great quality&#44 nice color combos.~5|Eric Collins^As described&#44 fast shipping.~5|777twist^The rating system says Hate it&#44 I don’t like it&#44 It’s Okay&#44 I like it&#44 I love it.So in terms of that&#44 I will just go with “It’s Okay.” It’s probably more my fault that I didn’t see the polyester %&#44 as this shirt is like wearing a burlap sack. It’s not soft at all. It really is a work shirt.So if you want something that will be more durable and hold up to rips while you work under your car… this is the shirt for you. But it’s just not my kind of thing.~3|txgingersnaps^So glad I ordered these! Durable and great fit.~5|

  8. Crystal^If I could give this item NO stars I would! I’m really upset at the product I received today! I had to wait an extremely long time to receive the item. It was meant to be a Christmas gift which btw I ordered over a month prior. The item shown on the ordering screen show a solid black shirt with yellow logo. The shirt I received was more like a baseball shirt which is white with green collar and sleeve trim with a horrible screen print black logo!! I could have done an iron on print myself that looked better than this shirt! It didn’t even have the same wording as the photo shown!!~3|melissa777^My husband loves this shirt! true to size&#44 washes good&#44 ive washed like 3 times now and no fading yet. looks just like picture.~5|Toni Shepherd^Bought two of these for my brothers. They are just what I wanted&#44 and good gifts. Happy!!~5|donna^This t-shirt is soft and stretchy. The graphic is vivid and exactly as shown. The fit is what you would expect from a men’s extra-large t-shirt. It’s the softer stretchy cotton and NOT the stiff and thick kind of cotton. Husband likes the show and was excited to receive the shirt. Plus we went to Gas Monkey Bar and Grill and they were thirty dollars there&#44 so this was a bargain.~4|Diane D^Good quality. Bright colors~5|Carlos Blanco^small Medium~4|markerdown^Expected a better quality T from ass monkey~3|Cathy Forbes^Arrived promptly. Exactly as expected design.~5|jg^My husband loves this shirt. I ordered a large and when it came it had that terrible new shirt smell so I washed it (in cold water) after drying it still looked the same size (maybe a tad smaller) so it’s a little snug on him. Not snug enough to not wear it&#44 I will just know to order a size up next time~4|Jen RN^Was a gift. They loved it&#44 big fan!~5|

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