In the News

QBE’s Hammond on transformation and growth
July 2020
CEO Asia, Jason Hammond, recently spoke with Insurance Asia News and shared about the restructuring process and transformation, and his outlook on the Asian markets’ growth opportunities, broker consolidation and the rise of digital and insurtech in the post-Covid environment.

IMO 2020 - 100 days amidst the Pandemic
June 2020
Head of Marine for Singapore and Head of Hull & Marine Liability for Asia, Rama Chandran shared an update in the June issue of IUMI's (International Union of Marine Insurance) newsletter on the implementation status of IMO 2020 since coming into effect. As the IUMI Ocean Hull Committee Chair, Rama and his committee will continue to monitor the impact of low sulphur fuels on engine and machinery claims in the near future.

COVID-19 insights from insurance and risk leaders in Asia Pacific: "Cohesion & Positivity" by QBE Asia CEO, Jason Hammond
June 2020
CEO Asia, Jason Hammond shared his insights on ensuring business continuity and being there for customers, partners, employees and the community during these challenging times.

Discussion on climate change increases - QBE research
March 11, 2020
A growing number of small and medium sized enterprises (SMEs) are seeing the relevance of the impacts of climate change on their businesses, according to the fifth edition of QBE Insurance's annual survey of Singapore SMEs.

Singapore SMEs eager to expand – QBE
March 11, 2020
Despite economic headwinds, small and medium enterprises (SMEs) in Singapore remain eager to expand and were more optimistic than the previous year, according to the fifth annual SME survey by QBE.

Many SMEs unprepared for risks related to technology use - QBE study
March 10, 2020
Even as SMEs in Singapore seek to broaden their businesses in an increasingly digital and data-driven economy, many remain unprepared to handle common business risks associated with the use of technology, according to the fifth edition of QBE Insurance's annual survey of Singapore SMEs.

Digital-shy Singapore SMEs hurting competitiveness – QBE study
March 10, 2020
Singapore’s small and medium enterprises (SMEs) are still hesitant to adopt digital technology and lack action in strengthening their business’s infrastructure, despite an increasingly digitised economy. That is according to the fifth edition of QBE Insurance’s annual survey of Singapore SMEs, which found that while SMEs are keen to digitalise, over four in 10 (41%) cited high investment costs as the main deterrent.

Nearly half of SMEs struggle with digitisation's high costs
March 9, 2020
Businesses stated that they are still unprepared to face common tech risks. Around half or 41% of small and medium enterprises (SMEs) stated that high investment costs is their top barrier for digitising, according to a QBE survey. They also noted that SMEs have been adopting digitised means at a slower pace.

Hesitation to digitalise causing Singapore SMEs to lose competitiveness
March 9, 2020
Apprehension about digitalisation among small and medium-sized enterprises (SMEs) in Singapore is causing them to fall behind in terms of preparedness for the future digital economy, a survey by QBE Insurance Singapore has found.

Can more be done to improve workplace safety in Singapore?
September 20, 2019
Almost 30 per cent of workplace injuries in Singapore over the past four years have been the result of slips, trips and falls (STF), with more than 3,000 employees affected annually during that period. In addition, there were over 1,800 STF-related injuries in the first half of 2019, up around 6 per cent from over 1,700 cases in the same period last year. These were the statistics revealed by Minister of State for Manpower and National Development Zaqy Mohamad at the Workplace Safety and Health Forum on Kitchen Safety last month. Jason Hammond, CEO of QBE Asia and Singapore joins us today to share what can be done.

Digital vs cheque payments: SMEs want it both ways
August 30, 2019
Consumers are largely on board the digital payments train but business, particularly business-centric small and medium enterprises (SMEs), seem to need a bigger push to go entirely cashless or cheque-free. In January, a survey of close to 500 local SMEs by QBE Insurance also found that about a quarter of them still prefer traditional payment methods like cash and cheques. Much of the feet-dragging may lie in using cheques as a means of managing cashflow and a perception that digital payments are more open to fraud, accordingly to some business-to-business (B2B) SMEs and industry experts.

Commentary: Will driverless vehicles drive insurance premiums down?
April 23, 2018
Two observers from the insurance industry discuss the impact of autonomous vehicles on liability, responsibility and insurance premiums.

The importance of surveyors in today's challenging hull insurance landscape
April 1, 2018
Even in a world characterised by rapidly changing technologies, the traditional method of maritime shipping continues to serve as an important conduit for trade and business. It has been the backbone of globalisation and lies at the heart of cross-border transport networks that support supply chains and enable goods to move between countries. Insurance coverage helps protects shippers who experience loss or setbacks by apportioning resources collected from the wider community of shipowners to those that have a genuine need for it, and is thus a safety net for shipowners to rely on.

SME Report
March 1, 2018
QBE SME survey shows only 14% of local SMEs intend to internationalise. Half of all local SMEs are held back from expansion by concerns around sufficient financing and familiarity with other markets. Almost half of Singaporean SMEs have no interest in internationalising and taking their business beyond Singapore in the near future.

Only 14% of SMEs plan to go abroad: Survey
January 31, 2018
While local SMEs may not yet feel ready to capitalise on growth prospects in new markets, 44 per cent are expecting an increase in sales in the next 12 months, up from 40 per cent in the previous year, the survey found.

Commentary: A role for insurers in reaching ambitious workplace safety and health goals
December 1, 2017
Changes to the Workplace Safety and Health Act have set the tone for ambitious workplace safety and health targets. Insurers should rise to the occasion, says QBE chief executive officer.

News Coverage - Research reveals SMEs are feeling pessimistic about 2017
December 1, 2016
With more than a third of SMEs having a generally grim economic view on both sales and profitability for the next 12 months, almost 10% of smaller small- and medium-sized enterprises (SMEs) in Singapore still do not carry any insurance to mitigate such risks. A survey of local SMEs by global insurer QBE, also found that more than half of the companies polled are content to operate with only the most basic, mandated levels of insurance.

Gazette & FAQs on QBE Insurance (Singapore) Pte Ltd transfer
July 27, 2015
Transfer of QBE Insurance (International) Limited to QBE Insurance (Singapore) Pte Ltd

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