While some people have never had to claim any insurance benefits, others have seen their policies become their saving grace in dire situations.
Before getting to that point though, there is the identification of a provider and selecting the most appropriate policy to meet your needs.
Unfortunately, this is often easier said than done. What if it didn’t have to be so difficult, though? What if it were possible to optimize insurance policies to meet the exact needs that you have without any of the extra frills?
Such a thing is certainly not an unfair ask, which is why Bubblegum is here to deliver.
The Relevance of Insurance
Some Singaporeans are still torn on the concept of insurance. On the one hand, you could pay for it for your entire life and never need to make a single claim. It may sound counterintuitive, but this is the best-case scenario.
The worst-case scenario is to find yourself in a dreadful situation that you cannot cover out of pocket, and there is no insurance company to help bail you out.
Insurance’s importance lies in protecting yourself against the unknown.
Term Life
Term life insurance is one of the most popular variations, and it is also called pure life insurance. This kind of contract sees a guaranteed death benefit paid to beneficiaries if the person covered is to pass away during an established term.
Should the term expire, the policyholder can choose to complete renewal for another finite term, convert the policy to a permanent coverage variation, or terminate it altogether.
Note that there is no value associated with these policies apart from the payout in the event of death. This means that a cash amount cannot be withdrawn, nor is there a savings element present.
Car Insurance
It would be criminal to understate the value of a car insurance policy, especially considering the way the figures can mount quickly in the event of an accident.
As you select your car insurance policy, there are a couple of options you want to bear in mind.
Third-party insurance is basic and only covers damages to third parties, meaning no protection for the insured person.
There is also the third party, fire, and theft variation, including basic third-party protection, as well as theft of your vehicle or fire damage.
The comprehensive insurance plan is the full suite offering that includes everything from the previous two options as well as coverage for any accidental damage to your vehicle, as well as medical expenses you may incur.
Secondary factors to think about include inclusion or lack thereof of roadside assistance, coverage for additional drivers, no claim discount incentives, daily transport allowances, etc.
The Convenience of Bubblegum
You heard about Bubblegum briefly above. So, what does it do? Bubblegum is an electronic platform that allows you to contrast coverage term life and car insurance options. You also get recommendations based on your unique needs.
This all takes place from a simple user interface, allowing you to skip a lot of the guesswork and hassle typically associated with securing insurance solutions.
Take advantage of instant applications and claims with nothing more than a few taps of your fingers. Subscriptions are incredibly flexible, and there is no commitment required.
The Digital Future
The Bubblegum platform is a part of a new age with new ways of doing business. There is no doubt that the traditional method of securing insurance policies was tedious.
Therefore, being able to run through the process this quickly is a huge plus. Before offering native insurance solutions, Bubblegum offered the best possible recommendations to its clients.
However, greater optimizations were possible to eliminate trade-offs, and capitalizing on that was a big part of the motivation for the creation of the digital platform you now see.
One of the top benefits to this end is the ability to customize existing policy types so much so that you only agree to take out and pay for what you need and may use.
Final Remarks
The relevance and utility of insurance should never be denied, considering the level of protection it allows policy owners. Requirements vary, and people need the ability to mold the policies they pay for to their unique needs.
This is where Bubblegum fits into the mix. The easy-to-use digital platform is available on both Android and iOS operating systems. Select policy types, mix and match features, and digitally circumvent what would typically require a lot of paper and extended processing. How is that for convenience?