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Budget Direct Insurance reaches out to concerned employees at competitor's insurance firm

SINGAPORE, 2 March 2022 /PRNewswire/ - News that AXA Insurance Pte Ltd (AXA Singapore) is exiting its general insurance business, has prompted an online insurer to invite concerned employees and customers to get in touch.

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The Budget Direct Insurance advert that appeared in the Straits Times newspaper inviting customers and employees of AXA Singapore to get in touch.

Budget Direct Insurance has taken the unusual step of placing an advert in the Straits Times newspaper with a message addressed directly to employees and customers of AXA Singapore. The advert invites staff members who maybe anxious about their jobs to consider joining Budget Direct Insurance, which says it is actively recruiting for many positions. At the same time, it invites affected customers to get a motor quote with Budget Direct, the digital online insurer.

Reports hit the headlines recently of concerned employees following the news that AXA Singapore was quitting its motor and commercial lines after being acquired by HSBC. Some of AXA Singapore's general insurance arm will go into run-off which will include the complete cessation of writing new and renewal insurance policies while managing existing policy obligations.

Award-winning Budget Direct Insurance for car, motorcycle and travel insurance on the other hand says its business is growing and it is keen to push its recruitment drive in a bid to help provide employment opportunities for Singaporeans who may be worried about their jobs.

Simon Birch, CEO of Budget Direct Insurance, said: "Motor insurance is a market we want to embrace. We are very much focused on this area, and we see huge opportunities in the digital B2C market for motor insurance. There is plenty of scope to underwrite motor policies successfully. As an expanding Singapore-born business we want to provide employment opportunities for Singaporeans within the Insurtech sector. Anyone concerned about their jobs in this area should reach out to us first. We are here to help in any way we can."

Budget Direct Insurance is asking affected customers who have a motor insurance policy, to get a quote at budgetdirect.com.sg/friends or call them at 6221-2111. And for staff at AXA Singapore, who are interested in joining Budget Direct, to contact them at [email protected]

About Budget Direct Insurance

Budget Direct Insurance is an award-winning online digital insurance company. It is part of an international group which provides insurance solutions for millions of policyholders worldwide. Their brands include EasyCompare in Thailand, Compare the Market in the UK, Budget Direct in Australia, and Telesure in South Africa.