Start-up challenges local insurance industry to demystify the ‘science’ of financial protection, and ‘Keep It Simple’
SINGAPORE, 21 January 2017: New insurer, Budget Direct Insurance has officially launched in Singapore and is focused on delivering insurance cover with a great value proposition. Budget Direct Insurance makes it easier, faster and cheaper to secure quality cover with savings of up to 15-20%, or more, on their premiums.
Simon Birch, CEO, Budget Direct Insurance said: “We know Singaporeans are value conscious consumers. They are also active users of technology. By converging our value-based approach with leading technology, we hope our entry into the local market will see more consumers convert to purchasing insurance direct as they discover it isn’t as complicated as they have been led to believe.”
“Insurance isn’t hard to understand, though this misconception keeps agents and brokers in business. Car insurance is based on known facts; everyone knows what sort of car they own, how they use it and who else used it; add any additional extras that they need and they’re done – with the ability to buy a policy in 10 minutes or less.”
Budsy, the insurance translator
The brand’s official launch sees the introduction of Budsy, the brand’s mascot, across a series of videos and online activations. Eschewing expensive talent to remain true to the brand’s roots, Budsy the sock puppet demystifies insurance to show consumers just how simple insurance can be. Translating the industry’s buzzwords and acronyms into easy consumer-friendly language, Budsy proves that insurance is so simple, “even a sock puppet can do it”.
As part of the launch campaign, Budget Direct Insurance interviewed Singaporeans on the street and asked them to explain what they understand about their car insurance policies. Do they know what key insurance terms really mean? Do they know who to call when their car breaks down or is involved in an accident? Find out and watch their reactions here.
With the belief that the current insurance model in Singapore is built around what’s best for agents rather than what’s best for consumers, Budget Direct Insurance puts customers first to ensure better pricing and better service.
At budgetdirect.com.sg, customers can get a quick quote and see a price within 30 seconds, with the ability to buy a policy in roughly ten minutes. Birch added, “We all know buying insurance is boring, so we’ve made it easy for the customer to get the job done in 10 minutes or less, secure in the knowledge their money is going where it matters – on their insurance cover.”
So how does it work?
Budget Direct Insurance starts with a quality base cover; customers can then choose as few or as many of the 10 optional covers based on how they actually use their car, including:
- 24 Hours Roadside Assistance
- Take your car to the workshop of your choice
- Include Personal Accident Insurance
- No Claim Discount Protector
Global expertise, local support
Budget Direct Insurance is first and foremost a local set-up, backed by an international insurance group, which provides insurance solutions for millions of policyholders worldwide.
Local support is just a phone call away, with claims executives based here in Singapore ready to help with 24-hour support and a customer care centre at Singapore Shopping Centre for those who want face to face service. The local, direct approach means that customer service will be better, more responsive and tailored to the individual’s needs – we invest in support where consumers truly need it.