Bringing insurance into the 21st century

Insurance jargon buster: What’s an exclusion? These are things that insurance doesn’t cover and that customers can’t claim for.

We aim to become a leading pan-Asian insurer by changing the way people feel about insurance. This means we sometimes find ourselves questioning why we’re doing the same thing…in the same way. For example, do we really need to churn out the same long, often outdated and unnecessary contract clauses?

So in 2017, we launched Project Exclusion, an initiative that examined the assumptions and judgements that traditional insurance contracts are based on. We consulted with our team, our regulators and our partners. We then identified several irrelevant or unnecessary exclusions that we could remove – without impacting our business.

Through Project Exclusion, we’ve made a breakthrough set of changes that minimise the number of exclusions in all our products. We’ve taken out the ones you don’t need and added the ones you do – to give our customers maximum protection at no extra cost.