'We believe that financial literacy should be second nature to everyone,' says Victor Lee, CIMB's CEO of Growth Markets and Singapore

InsureXpo by CIMB successfully concluded its second edition on April 12 with attendees quadrupling from the previous edition's. 

The event, with the theme "From Protection to Prosperity", brought together leading industry experts from insurers such as Singlife, FWD, Income and AIA, as well as community partners like Central Provident Fund (CPF) Board, Singapore Police Force, Mindline (by Ministry of Health) and National Youth Council.

The event's guest of honour was Alvin Tan, Minister of State for Community, Culture and Youth, and Trade and Industry, and also a board member of the Monetary Authority of Singapore.

"Beyond FIRE (Financial Independence, Retire Early), every Singaporean should think about building resilience and pursuing exceptionalism - especially in today’s uncertain world," says Tan.

“We believe that financial literacy should be second nature to everyone," says Victor Lee, CIMB’s CEO of Growth Markets and Singapore in his opening remarks.

"Whether you’re an experienced investor, a young professional just starting your career, or someone planning for retirement, we are committed to providing you with the tools and knowledge to make informed decisions and build a more secure financial future. 

"This year, we are proud to support SG60’s mission of building financial resilience across Singapore, with a special focus on equipping our youth with the skills to navigate their financial futures with confidence," he adds.

According to CIMB, InsureXpo has one clear purpose: to help individuals take proactive steps in strengthening their financial well-being at every stage of their life and this includes raising awareness of how insurance plays a vital role in this journey.

CIMB, describing itself as Singapore’s leading foreign bank for bancassurance, with partnerships with seven major insurers, offers a wide spectrum of insurance products giving its customers the freedom to choose solutions that they need.

At the event, panellists representing CIMB's insurance partners – Singlife, FWD, Income and AIA – explored the shifting insurance landscape in an era marked by rising living costs and an ageing population. 

As claims and healthcare expenses surge, insurers are innovating to balance between rising costs and comprehensive coverage. One way to do so is by digitalising and using insurtech to improve cost efficiency and maintain affordability, without compromising the human touch in insurance services.

In addition, data analytics is also used to optimise risk assessment and pricing strategies.

Attendees also participated in a series of talks and panel discussions on pertinent financial topics. This includes securing financial freedom through insurance and CPF, achieving F.I.R.E, legacy planning for future generations, and other financial tips.