Singapore: Surer launches marketplace for instant insurance quotation

| 27 May 2021

Surer announced that it has successfully launched a first-of-its-kind Instant Quote Marketplace, where all insurance intermediaries who are users of Surer can gain access to insurance quotations instantly. The launch of the Instant Quote Marketplace will see its users gain access to selected products offered by participating insurers.

In Singapore, licensed general insurance agents are allowed to represent a maximum of three insurers. However, only 9.9% of these agents represent three insurers. And insurers have been looking to leverage technology to enhance their engagement with this sales force.

Surer, is an Insurtech solution that provides a collaborative platform to help intermediaries get information faster and insurers to distribute their products more efficiently; essentially matching the demand with the supply.

Surer co-founder Derren Teo said, “Surer helps intermediaries save 95% of their time on product quote sourcing and 70% of time spent dealing with administrative processes. The digitalisation of their workflow leads to greater
speed and efficiency. With more time, intermediaries can increase their focus on prospecting and advising clients, including the 70% of uninsured or underinsured SMEs in Singapore. The launch of our Instant Quote Marketplace allows intermediaries access to instant quotations and furthers our value-proposition to the entire insurance ecosystem, where intermediaries can be more efficient in quote sourcing whilst insurers can be more effective in product distribution and recruitment.”

“In leveraging technology, these intermediaries can work with their clients and insurers without time delays, enabling them to scale their services to clients and ultimately do more business with their insurers. Such a digital solution has taken greater importance for intermediaries in Singapore, given the restrictions in social interactions under the current Phase 2 Heightened Alert situation we are in currently,” he added.

The Instant Quote Marketplace is available to all intermediaries with a Surer account. Interested intermediaries can sign up at


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