Symbol

[US] - Contact Us 2

[US] - Footer

[US] - Work detail

<h1>Making Insurance Accessible</h1><p>Income, a social enterprise under NTUC Enterprises, sought to enhance insurance accessibility and expand coverage. Tasked with this mission, Monstarlab developed a mobile app designed to transform perceptions of insurance and seamlessly integrate it into consumers' lifestyles through innovative experiences.</p><h2>Introducing SNACK by Income</h2><p>Conceived to create a positive digital experience, SNACK was designed to feel like a lifestyle application. After ten months of intensive development and iteration, it launched in April 2020. The app enables users to build their insurance coverage simply by living their lives.</p><h2>Addressing Market Challenges</h2><p>Despite many digital natives in the market, certain consumer segments still perceive insurance as "hard to reach" with "high barriers to entry." Common perceptions include:</p><ul><li>Insurance is difficult to understand.</li><li>It is seen as an unnecessary cost beyond essential living expenses.</li><li>It often requires fixed monthly or yearly financial commitments.</li></ul><h2>Innovative Mobile Solutions</h2><p>To appeal to these segments, Income and Monstarlab considered two key insights:</p><ul><li>Digital natives are mobile-first, with 159% mobile penetration.</li><li>They exhibit high usage of contactless payment methods.</li></ul><p>Based on these insights, they developed a unique mobile app experience to make insurance more accessible and engaging.</p><h2>Results</h2><ul><li>Developed a working prototype in 2 months.</li><li>Delivered App v.1.0 in just 3 months.</li><li>Achieved a 4.6-star rating on the App Store.</li></ul>

<h2>About SNACK</h2><p>SNACK is an innovative app developed by Singapore's NTUC Income, blending micro-insurance with everyday lifestyle activities.</p><h2>How It Works</h2><p>Users earn small increments of term-life, critical-illness, and accident coverage, or ETF units, ranging from S$0.30 to S$0.70. These increments are triggered by everyday actions such as:</p><ul><li>Tapping a subway card</li><li>Buying coffee</li><li>Achieving step goals</li></ul><h2>Launch and Expansion</h2><p>Since its launch in 2020, SNACK has issued millions of micro-policies. The app is expanding through partnerships with regional e-wallets.</p>

Contact us

Contact Us