OCBC rolls out mobile banking health insurance
Written by Anthony Strzalek
OCBC Bank has become the first in Singapore to distribute health insurance via its mobile and internet banking platforms.
Eligible customers can now buy Early Cancer Care via OCBC Bank’s mobile and internet banking platforms in a few clicks, without the need to fill in any physical forms.
Typically, health insurance plans like critical illness, disability, hospitalisation and surgical are not sold via online channels as they require a health check-up to evaluate the applicant’s medical condition. However, with Early Cancer Care, eligible OCBC Bank customers simply need to make a health declaration with the click of a button.
Early Cancer Care is the first health insurance product to be rolled out on OCBC Bank’s mobile and internet banking channels, with more non-general insurance plans to be added over time.
Underwritten by Great Eastern, it is a cancer insurance plan that provides coverage in the event early or major cancer is detected.
Once the customer has logged in via two-factor authentication, their personal information will be pre-populated on the insurance product application form, and they can make payment from their OCBC Bank accounts or credit cards.
Mr Aditya Gupta, head of e-business Singapore, at OCBC Bank, said: “This is a game changer. So far, our customers in Singapore have had to contend with general insurance products being available for purchase online.
“By offering our customers access to directly buy insurance solutions like Early Cancer Care via our digital channels, we have upped the ante in meeting their insurance needs simply, quickly and securely. It’s the start of what I call ‘democratisation of insurance.”