1. History

NTUC Income was established with an initial capital of $1.2 million in 1970, in response to a growing need for affordable insurance.

Since inception, we have matured into a leading insurer and progressive organisation with over 1.8 million policyholders and assets at $21.3 billion.

2. 'AA' Financial Strength

NTUC Income has maintained its "AA" rating by Standard & Poor's (S&P) since 1999. This is the highest rating among all domestic insurers in Asia. This rating reflects a strong financial profile, flexibility and capacity to meet new challenges.

Our total premium income for 2007 amounted to $2.5 billion.

3. Leading Composite Insurer

We are Singapore's only insurance co-operative and a leading life, general and health insurer.

Currently, we are one of the largest general insurer with a dominant share of the motor insurance market, insuring about 31 per cent of all vehicles.

With our popular medical plan, Incomeshield, which provides unlimited lifetime coverage, we are also a leading provider of health insurance.

For the year 2007, our life insurance premium income amounted to $2.3 billion.

We have about 1,600 insurance advisers, 1,500 office staff, and a network of 10 branches located island-wide.

Our belief is to strive for commercial leadership in our business to serve our social purpose. This means that while we ensure affordability and accessibility of all essential insurance products, support and advocate "national causes" in areas that are consistent with our goals as an insurance provider, we will manage our business professionally and commercially with respect to pricing, underwriting, claim settlement, complaints handling and dealing with suppliers.

4. Product Innovation to Meet Customers' Needs

Our strong growth is largely due to our innovative insurance products, which we make easily available through our sales force, our conveniently located branches and through the use of new technology.

5. Cutting Edge IT Development

We were the first insurer in Singapore to install a mainframe computer system in 1980 and the first to launch an internet website in 1995.

In 2002, we partnered the Infocomm Development Authority and Microsoft to launch the community web portal, BigTrumpet. Today, our two websites enjoy a combined usage of 35 million hits a month.

In 2005, we launched the Digital Warehouse, a project that saw 40 million paper documents converted into electronic images in accordance with the Evidence Act (Cap 97). Other enhancements such as the Evidence-Act Counters (EA Counters) and the Straight-Through Electronic Processing (STEP) system were also introduced.

At our EA Counters, paper documents are scanned in full compliance with the Evidence Act. Images from the scanned documents can be used in court.

STEP technology eliminates the use of paper. Our insurance advisers file proposal forms electronically, which are then transmitted and processed electronically by underwriters with minimum time lapse.

We continue to constantly develop our IT capability with the aim of improving our efficiency and consequently, raising the level of service to our policyholders.

6. Co-operative With A Heart

Each year, we contribute financially towards national community projects and worthy causes. In 2007, our contributions amounted to $2.0 million in support of charities, programmes of the labour movement, sports, and arts.

In recognition of our contributions and achievements, we have been conferred several prestigious national and international awards, including:-

2007 Awards
• ICA Global 300 Top Co-operatives and Mutuals (2007): Ranked 180th across all industries, 36th in position in the insurance sector
• Best Contact Centre of the Year Award - "Silver" (2007)

2006 Awards
• Distinguished Patron of the Arts Awards (2000 - 2006)
• IDC Award (2006)
• Best of Best World Contact Center Award for Technology & Innovation (2006)
• Best National & Regional Contact Centre of the Year Silver Award (2006)
• Best Contact Centre Champion of the Year Gold & Silver Awards (2006)
• Best National & Regional Customer Service Professional of the Year Gold & Silver Awards (2006)
• Work-Life Excellence Award 2006
• Total Defence Awards (Employers) (2003 - 2006)

2005 Awards
• Singapore Quality Class (1999 - 2005)
• Leading Corporate HR Award (2005)
• Leading CEO Award (2005)
• Distinguished Patron of the Arts Awards (2000 - 2005)
• Singapore H.E.A.L.T.H. Gold Award (1999 - 2005)
• Singapore Call Centre of the Year Gold Award (2005)
• Regional Call Centre of the Year Silver Award (2005)
• MHA Award for NSmen's Employers (2005)
• Insurance Website of the Year (2005)

2004 Awards
• Singapore Innovation Class (2004)
• People Developer Singapore (2001 & 2004)
• Family Friendly Firm Award (2000, 2002 & 2004)
• Sporting Singapore Inspiration Award (2003 & 2004)
• 15-year Outstanding SHARE Programme Award in 2004
• SHARE Corporate Platinum Award (2003 - 2004)

2003 Awards
• ISO 9001:2000 Certification 2003
• National Work Redesign Model Company 2003
• Intelligent 20 Award 2003
• CIO Asia Magazine Award 2003