Post offices to sell insurance from Tuesday

SINGAPORE - Singapore Post customers will be able to buy travel, home or car insurance from insurance company AXA at selected post offices from Tuesday.

In its latest move to diversify its business away from traditional mail, customers will be able to purchase a range of insurance products at 34 post offices or on SingPost's digital platforms.

By the third quarter of this year, owners of small and medium enterprises will also be able to buy insurance through these channels.

The service will be extended to 10 more SingPost branches by the end of the year.

The move comes after AXA announced in July 2013 an exclusive 10-year partnership with SingPost to sell life insurance products via its retail network in Singapore.

Post offices started selling life insurance in January this year and saw a "strong take-up at all the branches", according to AXA Life Insurance Singapore chief executive officer Mr Glenn Williams.

He added: "With general insurance now available, we are certain that more Singaporeans will benefit from a broader choice of channels and touch-points to go to for their insurance protection needs."

SingPost staff will use hand-held tablets to introduce the products to customers before referring them to AXA financial consultants stationed there.

Customers interested can buy the insurance product on the spot using their credit cards.

Ms Marjorie Ooi, SingPost's senior vice president for financial services, said: "Everyone who comes into a post office can have ready and easy access to financial planning."