British insurer Aviva has set up a facility to explore ways in which technology can produce new insurance ideas and services for consumers.
The Digital Garage, located in Armenian Street, opened yesterday. It has a team of about 100 people, supported by 200 technology specialists based in Singapore, but they may not always be at the facility.
The insurer said: "(It is) a dedicated space where technical specialists, creative designers and business leaders explore, collaborate and test new insurance ideas and services which make financial services more tailored and accessible for customers."
Mr Chris Wei, Aviva Asia executive chairman and global chairman of Aviva Digital, said: "Digital technology has the potential to transform how we look after customers, making it significantly easier to interact with Aviva.
"The launch of the Digital Garage in Singapore is an extension of our global 'digital-first' strategy, which is crucial to our future success."
The four-storey garage's functions include developing new ideas in the digital space and turning them into prototypes to be tested in the market. It will also work on projects that digitise Aviva's businesses around Asia, and a digital businesses line.
Aviva's first Digital Garage was set up in London earlier this year to develop and explore innovative ideas and turn them into real financial products and services.
The Singapore workspace comes after Aviva signed a statement of intent with the Monetary Authority of Singapore and the British government in July - to support and promote digital innovation initiatives in Singapore and Asia for the benefit of consumers.
Global chief digital officer Andrew Brem said: "Given the vibrant fintech community, strong digital capabilities and deep talent pool in Singapore, the garage here is the perfect platform for digital champions to collaborate and make things happen."