The Life Insurance Association, Singapore (LIA Singapore) has outlined its priorities for 2025 under a newly elected Management Committee, with a sharpened focus on improving financial literacy, easing legacy planning and claims processes, reinforcing trust, and ensuring healthcare sustainability.
Sze Keed Wong, CEO of AIA Singapore, was elected President for the 2025–2026 term, succeeding Dennis Tan.San San Chan of Prudential and Greg Hingston of Great Eastern Life were named Deputy Presidents, while Andrew Yeo of Income Insurance and Harpreet Bindra of HSBC Life were appointed Secretary and Treasurer respectively.
Setting the tone for the year ahead, Wong said, “As an industry, we will build on that momentum in 2025 by prioritising consumers and addressing key consumer challenges by enhancing financial literacy, simplifying legacy planning and the claims journey, strengthening trust, and supporting a sustainable healthcare ecosystem.”
Among its key initiatives, LIA will expand efforts to close protection gaps through education. Partnerships with the Singapore College of Insurance and MoneySense will continue, alongside wider adoption of the Basic Financial Planning Guide. A new best practice paper has also been issued to improve training and advisory standards.
To help families better navigate legacy and claims processes, LIA will launch consolidated planning resources on its website in Q2 2025 and update its guide on the nomination of insurance beneficiaries to include electronic nomination options. At the same time, the Association is working to streamline death claims and reduce administrative burdens.
A set of new guidelines to prevent unintended policy lapses—particularly for seniors and those less digitally engaged—will be issued in Q3, supporting the industry’s efforts to balance digitalisation with inclusivity.
Trust-building also remains a core priority. Following a two-point rise in trust scores in 2024, the Insurance Culture and Conduct Steering Committee will advance work through its Life Intermediary Sub-committee, with a third trust study due by year-end.
With medical inflation forecast at 12% in 2025, the Association emphasised continued cooperation with government agencies, the medical sector, and consumers to ensure affordable and sustainable healthcare access.
