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


Looking to get a loan?

Best Credit SG Pte Ltd is use to be known as Cing Dien Credit. We have establish ourselves in Singapore since 1985, making us one of the oldest money lenders! We are confident when we say we are one of the best money lenders in Singapore. Since the day we started, we have help thousands of people who are in need of cash to get through their problems. Anything that you may need to pay, Best Credit is always here to help. Our doors are open everyday from Monday to Sunday (except public holiday).

The experience that we have accumulate over the years has help us to understand the needs of people better. You can trust that all of us at Best Credit knows what we are doing. Our management is always working hard, trying to come up with newer better solutions to help you in every way possible. Place your trust in us, let us do the thinking for you. Do not fret over it by yourself, talk to us and we are certain that we will be able to find a solution for you.

Furthermore, Best Credit is the few money lenders open on weekends! We understand that it is not easy for you to come over on weekdays. Often, you may not even be able to reach our office before our closing time. Therefore, this is the reason why we have decided to extend our opening hours to include weekends as well!

 

To find us:

Never got a loan from money lenders before? Plenty of questions to ask? Call us at +65 6272 5538. We will be more than happy to answer any question that you may have. Alternatively, you can visit us at Blk 372 Bukit Batok Street 31 #01-374 (Level 2) Singapore 650372. Bukit Gombak MRT is the closest MRT to us. We are directly opposite the MRT.

Come on down to our office! We will offer you a free consultation before you decide if you want to take a loan with us!

Loan Finder Review
Review Date
Reviewed Item
Insurance is good and bad at the same time. Have to meet the right sales person who is not out to suck your money, selling things you do not need.
Author Rating
51star1star1star1star1star

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

  1. Этой ночью исследовал содержание инета, при этом к своему восторгу обнаружил лучший сайт. Вот гляньте: купить аккаунт инстаграм с живыми подписчиками . Для нас вышеуказанный сайт оказал яркое впечатление. До встречи!

  2. I have to show my admiration for your kindness in support of those individuals that really want help with this particular subject. Your real commitment to passing the solution throughout came to be certainly important and has usually made somebody like me to reach their aims. Your own insightful facts means a lot a person like me and still more to my office colleagues. Thanks a ton; from all of us.

  3. Hi there, I discovered your web site by way of Google whilst looking for a related matter, your web site got here up, it looks good. I have bookmarked it in my google bookmarks.

  4. Thanks for publishing this awesome article. I’m a long time reader but I’ve never been compelled to leave a comment. I subscribed to your blog and shared this on my Facebook. Thanks again for a great article!

  5. работа скаутом в эскорте конторе

    Эскорт агентство Москвы объявляет набор скаутов во всех регионах России, Украины, Беларуси, Казахстана и стран Балтии. Скаут- человек, ищущий новые лица и моделей. Стать скаутом может любой желающий. Находить новые лица можно везде, на улице, в учебных заведениях, в метро… В работу скаута входит поиск профессиональных и начинающих моделей-девушек, и приглашать их сотрудничать с нашим агентством. Скаут, пригласивший модель, которая в дальнейшем станет моделью нашего аг-ва, получает денежное вознаграждение от 200 до 500$ ДЛЯ СКАУТОВ ДРУГИХ МОДЕЛЬНЫХ АГЕНТСТВ – ОСОБЫЕ УСЛОВИЯ!!!
    Место проживание скаута не имеет значения.

  6. Fantastic site you have here but I was wwondering if youu knew of any discussion boards that cover the same topics disccussed
    here? I’d really like too be a art of onlione community where I can gget opinions from other experienced
    people that share the same interest. If yyou have any recommendations, please let me know.
    Bless you!

  7. I just couldn’t depart your site prior to suggesting that I actually enjoyed the standard information a person provide for your visitors? Is going to be back often in order to check up on new posts

  8. Удостоверения, ID-карты, водительские права, пенсионные удостоверения, паспорта, военные билеты. документы удостоверяющие личность. купить удостоверение прокуратуры. ксивы. куплю ксиву. купить ксиву. ксиву купить
    Готовые Бизнес – Проекты

  9. I just couldn’t depart your site before suggesting that I actually enjoyed the standard information an individual supply to your visitors? Is going to be again incessantly to check out new posts.

  10. Hello, i think that i saw you visited my blog thus i came to “return the favor”.I am trying to find things to improve my web site!I suppose its ok to use a few of your ideas!!

  11. Hi, i read your blog occasionally and i own a similar one and i was just curious if you get a lot of spam remarks? If so how do you protect against it, any plugin or anything you can suggest? I get so much lately it’s driving me mad so any support is very much appreciated.

  12. I’m impressed, I must say. Actually rarely can i encounter a weblog that’s both educative and entertaining, and let me tell you, you have hit the nail about the head. Your notion is outstanding; the problem is an issue that insufficient folks are speaking intelligently about. I’m delighted that we found this in my look for some thing about it.

  13. I’mreally inspirrd together with your wrditing abilities
    as smartly as with the format for your blog.
    Is that this a paid ssubject matter or did you modufy it your self?
    Anywaay keep up thhe excelloent quality writing, it’s uncommon to peer
    a great blog like this one nowadays.

  14. I am not sure where you are getting your information, but good topic. I needs to spend some time learning more or understanding more. Thanks for fantastic information I was looking for this information for my mission.

  15. Thanks for writing this awesome article. I’m a long time reader but I’ve never been compelled to leave a comment. I subscribed to your blog and shared this on my Twitter. Thanks again for a great article!

  16. Thank you for writing this awesome article. I’m a long time reader but I’ve never been compelled to leave a comment. I subscribed to your blog and shared this on my Facebook. Thanks again for a great article!

  17. Thank you for publishing this awesome article. I’m a long time reader but I’ve never been compelled to leave a comment. I subscribed to your blog and shared this on my Facebook. Thanks again for a great post!

  18. Thank you for publishing this awesome article. I’m a long time reader but I’ve never been compelled to leave a comment. I subscribed to your blog and shared this on my Facebook. Thanks again for a great post!

  19. Many thanks for the information consisted of as well as the pictures, we were looking for particular products today as well as handled to discover your blog, we are leaving these comments to guarantee that you keep writing more info similar to this

Leave a Reply

Your email address will not be published. Required fields are marked *