The Times Australia
News From Asia

.

Prudential customers are the first to enjoy online nomination of beneficiary service using Sign with Singpass

The online service which leverages Singpass’ digital signing service makes it easier for policyholders to complete their nominations

SINGAPORE - Media OutReach Newswire - 22 March 2024 - Starting from 15 March 2024, Prudential Singapore ("Prudential") policyholders are able to nominate their beneficiaries online.

Prudential is the first insurer in Singapore to roll out an online nomination of beneficiaries ("online NOB") service using Sign with Singpass, which makes it easy and more convenient for policyholders to nominate their beneficiaries.

Previously, Prudential policyholders had to submit a hard copy of their nomination forms to Prudential via post or in person at the customer service centre. With online NOB, they now have the option to submit their nomination forms and electronic signatures online.

Beneficiary nomination is crucial in ensuring that the intended recipients receive the policy benefits according to the policyholder's wishes. While it is not compulsory to make a nomination, doing so will allow beneficiaries to receive the payout without any unnecessary delays or potential conflicts.

This online nomination service leverages Sign with Singpass[1] and generates Secure Electronic Signatures (SES)[2]. These signatures can be verified and traced back to the signer, which confirms the authenticity and integrity of the signed documents. Sign with Singpass is a product developed by Government Technology Agency (GovTech) Singapore.

Online NOB was introduced following the Monetary Authority of Singapore's (MAS) announcement in July 2023 that amendments had been made to the Insurance (Nomination of Beneficiaries) Regulations 2009, to enable insurers to provide online nomination of insurance beneficiaries from 2 January 2024.[3]

Mr Vikas Sinha, Chief Operations Officer, Prudential Singapore, said: "With online NOB, we wanted to make it simple, convenient and secure for our policyholders to take the important step of completing their beneficiary nomination. This helps prevent any potential delays or disputes in distributing the policy proceeds and gives customers greater peace of mind knowing that their loved ones are cared for in the future."

How online Nomination Of Beneficiaries works
Prudential policyholders will need to:

  1. Log in to PRUaccess, the company's online customer portal, to initiate an online nomination for their selected policy.[4]
  2. Provide details of their nominees and two attestors.
  3. Perform digital signing via Sign with Singpass. Appointed attestors will receive an email notification to make their online declarations.
  4. Submit the nomination.
The nomination will then be processed by Prudential and the policyholder will be notified on the status of the nomination.

Quote from a Prudential policyholder

Ms Yeo Sook Kuan, 38 years old.

"I have been putting off the nomination of beneficiaries for my insurance policies as filling out paper forms and getting someone to witness the signing in person is really a hassle. Now that we can do it online, it makes it so much easier for everyone, and it saves me a lot of time and effort."



[1] Policyholders are reminded to remain vigilant when performing digital transactions with Singpass. This includes checking that the domain of the Singpass login page is "singpass.gov.sg", as well as to avoid sharing their Singpass credentials (e.g. Singpass ID, password) with others.

[2] Secure Electronic Signatures (SES) are governed by Singapore's Electronic Transaction Act.

[4] Online NOB is only available for revocable nominations.

Hashtag: #PrudentialSingapore





The issuer is solely responsible for the content of this announcement.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country's citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor's, with S$49.4 billion funds under management as at 31 December 2022. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

Times Magazine

Building an AI-First Culture in Your Company

AI isn't just something to think about anymore - it's becoming part of how we live and work, whether we like it or not. At the office, it definitely helps us move faster. But here's the thing: just using tools like ChatGPT or plugging AI into your wo...

Data Management Isn't Just About Tech—Here’s Why It’s a Human Problem Too

Photo by Kevin Kuby Manuel O. Diaz Jr.We live in a world drowning in data. Every click, swipe, medical scan, and financial transaction generates information, so much that managing it all has become one of the biggest challenges of our digital age. Bu...

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

The Times Features

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages a...

Why Everyone's Talking About Sea Moss - And Should You Try It Too?

Sea moss - a humble marine plant that’s been used for centuries - is making a major comeback in modern wellness circles. And it’s not just a trend. With growing interest from athle...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial in...

What Is the Dreamtime? Understanding Aboriginal Creation Stories Through Art

Aboriginal culture is built on the deep and important meaning of Dreamtime, which links beliefs and history with the elements that make life. It’s not just myths; the Dreamtime i...

How Short-Term Lenders Offer Long-Lasting Benefits in Australia

In the world of personal and business finance, short-term lenders are often viewed as temporary fixes—quick solutions for urgent cash needs. However, in Australia, short-term len...

Why School Breaks Are the Perfect Time to Build Real Game Skills

School holidays provide uninterrupted time to focus on individual skill development Players often return sharper and more confident after structured break-time training Holid...