29 November 2022
On 2 November 2022, the Monetary Authority of Singapore (“MAS”) and the Smart Nation and Digital Government Group announced the inclusion of information on insurance policies to the Singapore Financial Data Exchange (“SGFinDex”). This allows individuals to digitally access and aggregate information on their life, accident and health insurance policies held across different participating insurers through financial planning applications or websites of participating insurers, banks, as well as through MyMoneySense, a free government financial planning digital service.
As individuals can now retrieve insurance, banking and investment data via SGFinDex, it will be easier for them to identify insurance protection gaps, form
a more comprehensive view of their financial status and be able to make more informed financial planning decisions.
This enhancement is made possible through close collaboration with the Life Insurance Association, Singapore, The Association of Banks in Singapore and government agencies.
SGFinDex is the world’s first public digital infrastructure that enables individuals to securely access their financial information held across government agencies, banks, insurers, and the central securities depository.