Singapore’s post-COVID landscape has redefined health insurance needs, focusing on mental health, hybrid working, and inflation.
A term coined by Peter Bithos, Head of Seek Asia, “virtual mobility” describes the trend of working remotely, with 60% of Singaporean employees considering a job switch if their employers insisted on full-time on-premise work.
The Bupa Global Wellbeing Index revealed an alarming 99% of Singapore’s high-net-worth individuals (HNWIs) experienced poor mental health in the past year.
The global inflation rise to 7.5% has intensified cost of living and business uncertainties, causing a shift in business spending towards employee wellbeing.
The evolving health insurance needs of professionals and HNWIs now demand broader support, including mental health and preventative care.
Furthermore, the rise of the remote workforce necessitates international health insurance coverage, highlighting the need for the insurance industry’s adaptation in the post-COVID era.