Singapore: Digital technology helps residents live well for longer

| 11 Oct 2022

More than half (54%) of the 800 Singapore residents aged 25 to 65 surveyed say that mobile devices and apps are critical tools in preparing for rising longevity.

This was according to a study commissioned by Prudential Singapore (Prudential) titled "Digital for 100: Harnessing technology for longer lifespans" which showed that respondents had expressed high levels of proficiency in using digital tools to improve or to monitor their personal and financial health. 

Of those who are using technology to manage their well-being, 36% say that digital tools have had the greatest positive impact on their financial situation, and 27% indicated personal health.

More than 4 in 5 (85%) respondents say that they are skilled at using mobile banking apps, and 70% in financial management apps. On the health front, 73% say they are well versed in using technologies such as apps for keeping tabs on their physical health, wearable fitness trackers (76%) and wearable health monitors (72%). 

Respondents say that digital tools have helped them to better manage their bank accounts, pension (CPF), investments, and insurance needs. They also use technology for monitoring physical fitness, blood pressure, sleep, diet and for managing chronic diseases such as diabetes. 

Despite the high level of digital proficiency in the country, just over two thirds (67%) are good at using mental health tools, such as apps that measure stress and anxiety levels, or those that monitor moods. 

While technology adoption is on the rise, 49% of all respondents say that modern digital tools are getting more complex. This figure was more than half for those aged between 35 and 44 (55%) and between 55 to 65 (52%).

Overall, the survey conducted in June and July 2022 by Economist Impact showed that Singapore residents are becoming increasingly confident about their ability to live to 100 even amid a global health crisis and economic headwinds. 

About 42% of respondents say they are prepared for rising longevity from a health and wellness perspective, up from 31% in 2021, the highest figure in any of the surveys in this research series. Around 54% responded in the affirmative from a financial health perspective, up from 29% in 2021. ??