eRemit Singapore, a Digital Remittance Platform, Companions Hong Leong Assurance Singapore to Supply Migrant Employee Insurance coverage Bundle

eRemit Singapore, a digital remittance service platform that’s supported by Merchantrade Asia and QALA Tech, has teamed up with Hong Leong Assurance Singapore (HLAS) to be able to present a brand new insurance coverage scheme for migrant employees primarily based in Singapore.

The eRemit Singapore’s Wage Protector Scheme has been underwritten by HLAS. The scheme is particularly developed to handle the distinctive protection necessities of migrant employees residing in Singapore.

This new scheme reportedly covers as much as 12x their month-to-month wage with a most cap of SGD 12,000 (appr. $8,930).

The scheme covers on- and off-working hours for many of the occupations and affords vital monetary help if there’s unintentional loss of life or within the case of a everlasting incapacity.

The scheme is being provided free-of-cost to all eRemit Singapore purchasers who’ve been in a position to perform profitable remittance transactions through the agency’s on-line platform.

eRemit Singapore’s administration additionally famous that they’re additional increasing their remittance companies to a business-focused viewers, particularly fitted to native SMEs.

Its new international remittance platform can be supporting faster and extra seamless cross-border transactions to 6 totally different nations throughout the APAC area, facilitating quick, protected and safe cross-border funds.

Srihari Sikhakollu, CEO at eRemit Singapore, acknowledged:

“We’re proud to work with HLAS to carry this Wage Protector Scheme to life, and we hope this may give migrant employees some peace of thoughts in making certain that they and their households are supplied for. In Could this 12 months, we waived our service payment to all 13 nations in order that employees who use our service can ship more cash to their households, and we hope to proceed supporting them with our debut entry within the Insurtech area.”

Kelvin Lim, CEO at HLAS, remarked:

“Everybody deserves to be lined no matter the place they arrive from or what they do, particularly in these difficult occasions. It’s progressive so as to add this service to our intensive portfolio of insurance coverage packages. eRemit Singapore’s intensive fintech expertise and huge adoption among the many migrant employee neighborhood makes them a wonderful accomplice to make sure that our insurance coverage is accessible to them and addresses their wants.”