Great Eastern has put together Prestige Partners, a dedicated team with the sole purpose of targeting Singapore's wealthy as the new affluent segment continues to experience rapid expansion in the Lion City.
According to government data, the number of households with an annual income of over SG$200,000 doubled from 7.3% in 2008 to 14.3% in 2018.
Prestige Partners financial representatives have received additional specialised training through a tailored high net worth advisor programme at the Nanyang Technological University's Wealth Management Institute to equip them with the latest insights to better service the unique needs of the affluent segment.
We've been protecting Singaporeans for 111 years and are constantly delivering on our promise to help customers live great"
With 64% of the new affluent segment under the age of 40, Prestige Partners seeks to serve them by providing personalised financial solutions to protect and grow their assets and income, as well as a range of services such as medical, travel and security assistance through a dedicated service concierge, a statement by Great Eastern said.
"At Great Eastern, we understand the human aspirations to rise higher, to do good, to forge ahead and live a meaningful life," said Khor Hock Seng, Group CEO at Great Eastern.
"We've been protecting Singaporeans for 111 years and are constantly delivering on our promise to help customers live great. With Prestige Partners, we are integrating the delivery of our products and services with the best in class expertise from a select group of experienced financial representatives to offer a distinctive and differentiated customer experience to this new affluent segment.
"Our customers can look forward to holistic and customised wealth and financial solutions delivered by specially-trained financial representatives so that they can pursue their aspirations for a great life."
Financial representatives under the Prestige Partners programme will be provided with additional specialised training through a tailored 'Prestige Partners High Net Worth Advisor Programme' at the Nanyang Technological University's Wealth Management Institute to equip them with the latest insights to better service the unique needs of the affluent segment.