With all other car insurers offering a maximum amount of up to NCD50, DirectAsia is the first in the market to offer up to 60% NCD for a more rewarding driving experience

Release date: 2 June 2017

SINGAPORE, 2 June 2017 – DirectAsia, the award-winning and pioneering online insurer, is rocking the car insurance market yet again with the launch of an innovative and unique benefit that awards an additional 10% No Claim Discount to the safest drivers.

This new feature, called NCD60, rewards drivers who have held NCD50 status for at least the last five consecutive years with an additional 10% discount over and above the existing NCD50 discount. Currently, all other insurers offer a maximum of NCD50, which DirectAsia estimates is enjoyed by approximately half the car drivers in Singapore*. In order to reward the safest drivers in this large segment, DirectAsia is the first insurer to launch the NCD60 benefit as part of its continuous commitment to deliver great value and savings to drivers in Singapore.

Bob Thaker, CEO of DirectAsia Singapore, said, “In the midst of rising car ownership costs, DirectAsia looks to innovate and offer the best and most competitive prices for drivers. The launch of our new NCD60 benefit not only demonstrates our continued commitment to providing five-star quality insurance at a great price, but also ensuring that our customers have an added incentive to remain safe and comprehensively covered when driving – and that they receive a unique reward only available with DirectAsia, where happier matters.”

Besides existing customers who have held NCD50 for at least the last five consecutive years, new customers to DirectAsia are also eligible and will be offered the additional 10% discount and NCD60 status when they reach their fifth year of NCD50 status. Customers can also opt to protect their NCD60 status with DirectAsia’s NCD Protection optional benefit, which can be purchased for a nominal fee.

DirectAsia’s new NCD60 benefit is available via www.directasia.com or by calling the DirectAsia sales hotline at 6665 5555 from 2 June 2017. 

Please refer to the Annex below for more information on NCD60, or you may visit www.directasia.com.

*Based on DirectAsia’s market data.

About DirectAsia Singapore
 
DirectAsia Insurance was launched in Singapore in 2010 and Thailand in 2013. DirectAsia’s primary business is car insurance, also offering motorcycle and travel insurance. DirectAsia has a unique and strong business model, operates in markets where there is growing acceptance of digital as an e-commerce channel and uses market leading rating mechanisms. It has more than 100,000 customers, and employs 192 people across the two locations in which it operates. In 2014, DirectAsia Insurance became a part of global insurer Hiscox. As one of the world's leading international specialist insurance groups listed on the London Stock Exchange (LSE:HSX), Hiscox brings decades of insurance knowledge and experience to Southeast Asia.

ANNEX - DirectAsia NCD60 Fact Sheet
DirectAsia’s NCD60 benefit is an innovation for the Singapore market whereby an additional 10% discount will be rewarded to drivers who have enjoyed NCD50 status for at least the last five (5) consecutive years.
 
Eligibility criteria:

• Drivers who have been holding NCD50 status for at least the last five (5) consecutive years will qualify for NCD60 status on their fifth year of reaching NCD50. For example, at the time of launch (June 2017), drivers who have attained NCD50 status by latest June 2012 will qualify for NCD60 with DirectAsia.  However, a driver who reached NCD50 on September 2012 will not be eligible for NCD60.
• For new customers (i.e. those who have never been insured by DirectAsia), the above criterion applies.
• For existing customers, they will automatically qualify for NCD60 and the additional 10% discount on the renewal following their fifth year of reaching NCD50.
• DirectAsia offers an NCD Protection optional benefit, which is available for NCD60 customers, to protect their NCD60 status.