When the Singapore government announced the implementation of Circuit Breaker on April 3, the whole nation went into a panic, with shoppers rushing out to stock up on masks and groceries. As we all know, that was only the beginning. We then started to see businesses being shut down… and our way of life altered forever.
PolicyPal, along with many other businesses, was swept up in the growing impact of the COVID-19 pandemic and Circuit Breaker. Now two months after the lifting of the latter, we have decided to share more about the challenges we faced, how we worked with partners to support our members, our end-to-end process, and ultimately, why we exist.
This will be the first in a five-part series detailing our growth, our journey, and our commitment to serve the community.
How did the Circuit Breaker affect PolicyPal operations?
Like most workplaces in Singapore, the PolicyPal team shifted to working from home full-time during the Circuit Breaker.
Luckily for us, we had started implementing our Business Continuity Plan in February – such as splitting the team for work-from-home arrangements – and this allowed for an easier transition for all to adapt to the imposed Circuit Breaker to keep everyone safe.
How did PolicyPal serve the community better?
Using machine learning to provide data-driven analysis
We understand that your needs and wants change over time, and that goes for insurance as well.
Our data-driven analysis allows us to provide unique insights for your specific life stage. We leverage data for machine learning to help our community assess what kind of/how much coverage they may need
For instance, as a parent with two dependants, the essential coverage is presented as follows:
We implemented machine learning capabilities which have the ability to analyse and present the data of people similar to your profile, what kind of coverage they have, and how much they are covered for. This is a feature for our members to see where they stand among their peers and whatever coverage gaps there may be.
The Circuit Breaker period was a difficult time for many: the economy was nearly at a standstill, people were being retrenched, and a pandemic was on the loose. It was easy to give in to the situation around us, but like many of you out there, we adapted and pivoted in the best way possible, and that began by placing and understanding your needs first.
Enquire More and Contact Us Today!
Learn more about how to manage your insurance policies and identify your coverage gaps.
To get in touch, you can WhatsApp us at +65 8750 0688 and we’ll get back to you. Alternatively, leave your details below and we will contact you at your convenience.
Download our app
PolicyPal helps you plan and reach your financial goals with personalized portfolio comparison. Manage your insurance digitally, wherever you are.
- Here are six things you can do to keep yourself safe when cycling!
- What Are PolicyPal Credits? How to Start Earning & Using Your P$
- Cheat Sheet for MoneyBag to win attractive rewards
- What Is Dependants’ Protection Scheme (DPS)? Changes from 1 April 2021 (Updated)
- 5 Financial Mistakes That Single 30-somethings Make