Insurance agents in Singapore will now have to carry a special identity card before they can conduct business with clients. The General Insurance Association (GIA) of Singapore has required agents of its member companies to obtain and carry this card since Jan 1 in a bid to help customers easily identify authorised and registered insurance agents.
"We aim to protect our customers by issuing these cards, so they can buy insurance products from licensed and qualified intermediaries who are in a better position and are better equipped to offer product advice," said Ms Stella Tan, a spokesperson for GIA.
In a statement, Ms Tan also said that that under a framework implemented by the GIA, member insurers have to make sure their agents adhere to a code of conduct and possess the relevant product knowledge to advise their clients. The association has over 30 members including NTUC Income, AIA and Aviva.
The GIA said it has since issued some 8,500 cards which will expire at the end of year. Agents will have to renew the card annually.