Great Eastern launches Prestige Partners to address crucial market gap of Singapore's new affluent

 Khor Hock Seng, Group CEO of Great Eastern, and Ben Tan, MD of Regional Agency/FA and Bancassurance, celebrate the launch of Prestige Partners with Great Eastern’s financial representatives
Khor Hock Seng, Group CEO of Great Eastern, and Ben Tan, MD of Regional Agency/FA and Bancassurance, celebrate the launch of Prestige Partners with Great Eastern’s financial representatives

Great Eastern has launched Prestige Partners, a handpicked team of 141 elite and experienced financial representatives geared to serve the generation of new affluent customers. This initiative is timely as the new affluent segment is growing rapidly in Singapore, where households with an annual income of over S$200,000 doubled from 7.3% in 2008 to 14.3% in 2018. Prestige Partners further strengthens Great Eastern's proposition to meet the needs of this affluent segment.

With 64% of this market segment under the age of 40, these well-travelled, high-achieving professionals seek an exclusive quality of life, bespoke solutions, greater connectivity and rich immersive experiences to keep pace with their changing needs. Prestige Partners helps this new segment of customers meet this crucial gap by providing unique, personalised and intelligent financial solutions to protect and grow their assets and incomes, and a range of premium curated services such as medical, travel and security assistance through a dedicated service concierge.

Clients of Prestige Partners will have access to exclusive services such as being served in exclusive Prestige Suites, the first of which is housed at the recently opened Great Eastern office at Paya Lebar Quarter. They will also enjoy complimentary health screenings and have medicals checks carried out in premium VIP facilities. Dedicated business support managers will also be assigned to Prestige Partners to help them fast track underwriting and claims for their customers.

To provide clients with leading-edge wealth management and financial advisory services, financial representatives under the Prestige Partners programme will be provided with additional specialised training through a tailored 'Prestige Partners High Net Worth Advisor Programme' at the Nanyang Technological University's Wealth Management Institute to equip them with the latest insights to better service the unique needs of the affluent segment. This complements a range of Prestige Series products Great Eastern has developed to cater to their protection and legacy planning needs. Prestige Partner clients can also access a wide range of Prestige Portfolio funds which are managed by a team of award-winning fund managers to meet their wealth accumulation goals.

"At Great Eastern, we understand the human aspirations to rise higher, to do good, to forge ahead and live a meaningful life," said Khor Hock Seng, Group CEO at Great Eastern. "We've been protecting Singaporeans for 111 years and are constantly delivering on our promise to help customers live great. With Prestige Partners, we are integrating the delivery of our products and services with the best in class expertise from a select group of experienced financial representatives to offer a distinctive and differentiated customer experience to this new affluent segment. Our customers can look forward to holistic and customised wealth and financial solutions delivered by specially-trained financial representatives so that they can pursue their aspirations for a great life."

"The launch of Prestige Partners is a testament to Great Eastern's commitment to serving this growing affluent segment," said Ben Tan, MD, Regional Agency/FA and Bancassurance, Great Eastern. "Through this new career pathway for our representatives, they will receive comprehensive training and be equipped with the skills and knowledge to best serve this growing market segment. This is in line with our customer-centricity thrust by empowering our financial representatives with best-in-industry financial products and client serving solutions so that they can thrive and succeed in their career with us here at Great Eastern."

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