Protection against malpractice ensures that Caregivers can provide care with a peace of mind
Singapore, 1 August 2018 – Caregiver Asia Pte Ltd and Great Eastern today announced a partnership to offer a first-of-its-kind professional indemnity insurance to freelance Caregivers, with the exception of doctors, registered on CaregiverAsia’s platform, www.caregiverasia.com. CaregiverAsia is an online aggregator of trusted on-demand health and caregiving services.
The professional indemnity insurance is a form of a liability insurance that protects individuals from legal liability associated with wrongful practices. Caregivers will be covered for up to S$100,000 for any one claim made against them by their clients, as well as expenses incurred in the defence or settlement of legal issues such as Libel and Slander, Breach of Confidentiality, Loss of Documents and Coroner’s Enquiries.
Ms Yeo Wan Ling, CEO of CaregiverAsia said, “I am pleased that we are offering insurance coverage to our freelance Caregivers on our platform. Many a time we have received feedback from Caregivers that they want to be covered. We believe that building financial safety nets is an important piece for freelancers to practice their trades with peace of mind and would be an important catalyst to a more robust and healthy freelance ecosystem. With this coverage, our Caregivers will be able to provide care with a peace of mind.”
Mr Ryan Cheong, Managing Director for Strategy & Transformation at Great Eastern said, “Caregivers play a vital role and are an integral part of the health ecosystem. We are very excited to be able to play a meaningful role to provide value to the community of professionals at CaregiverAsia.”
Mr Ang Hin Kee, National Trade Union Congress (NTUC)’s Assistant Director-General and Director of Freelancers and Self-Employed Unit (U FSE) said, “It is very encouraging that CaregiverAsia has taken positive steps to better protect the interests of our professional caregivers who are mostly freelancers. I hope such a collaboration and product will help pave the way for other freelance occupations, so that more can also be protected by a suitable insurance product.”
About Caregiver Asia Pte Ltd
CaregiverAsia is an online aggregator of health and caregiving services. Through its award-winning platform, CaregiverAsia has created an online marketplace leveraging on a shared economy of Careseekers and Caregivers. Careseekers can access on-time, trusted and transparent home care services; whilst freelance Caregivers and healthcare professionals can practice independently with full control of their schedules and terms of services. CaregiverAsia also specializes in healthcare recruitment and the placement of healthcare professionals and locums into leading healthcare institutions. For more information, please visit https://www.caregiverasia.com/
CaregiverAsia is part of The Caregiver Group which is headquartered in Singapore. The Caregiver Group is a global online aggregator of health and caregiving services for businesses and individuals, covering both the insured and the self-funded. By motivating and empowering freelance professionals, The Group transforms the way care is delivered to people and communities. The Group has a growing international presence in Malaysia and the United States. For more information, please visit https://thecaregivergroup.com/
About Great Eastern
A market leader and a well-established trusted brand in Singapore and Malaysia, Great Eastern was founded in 1908 and celebrates its 110th anniversary this year. With S$82.5 billion in assets and over 4 million policyholders, it has three successful distribution channels – a tied agency force, bancassurance, and a financial advisory firm, Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei and has a presence in China as well as a representative office in Myanmar.
It was named Life Insurance Company of the Year at the Asia Insurance Industry Awards in 2011 and 2013 by Asia Insurance Review. The Great Eastern Life Assurance Company Limited and Great Eastern General Limited have been assigned the financial strength and counterparty credit ratings of “AA-” by Standard and Poor’s since 2010, one of the highest among Asian life insurance companies. Great Eastern’s asset management subsidiary, Lion Global Investors Limited, is one of the largest private sector asset management companies in Southeast Asia.
Great Eastern is a subsidiary of OCBC Bank, the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 600 branches and representative offices in 18 countries and regions. These include over 330 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches and offices in Hong Kong, China and Macao under OCBC Wing Hang.
CaregiverAsia media contact:
Sheo S. Rai
Chief Marketing Officer
Great Eastern media contacts:
Tan Seck Geok
Head, Group Brand and Communications
Tel: (65) 6248 2215 / (65) 9138 2660
AVP, Group Brand and Communications
Tel: (65) 6248 2056 / (65) 9646 6361