It’s the result of a two-year collaboration between Ikano Group and IKEA. It’s a digital home insurance with the ambition to contribute to a safer life at home for the many people.
With the launch of HEMSÄKER in IKEA Singapore, we expand the IKEA product offering from furniture to also include additional services for the home. HEMSÄKER is a comprehensive, affordable home content and personal accident insurance that covers the costs incurred due to damages to your home furniture, renovation and personal legal liability of up to $500,000*, complementing the compulsory fire insurance that all homeowners in Singapore are required to have. It provides financial coverage in the event the home contents and renovations are damaged because of a fire, water leakage or natural disaster. Additionally, if a personal accident or burglary happens in the home, HEMSÄKER provides coverage for that too. HEMSAKER can be purchased online via insurance.ikea.sg”
“Making homes count is important to us and we believe a good home insurance should be part of that,” said Mike King, Deputy Managing Director at IKEA Southeast Asia. “While I’m sure there are existing solutions in the market, we saw the need to create an offer that is simple, easy to understand and affordable to the many. The language used is straightforward and the benefits are made transparent, so that our customers can make a fast and informed decision. The HEMSÄKER home insurance solution reinforces IKEA Singapore’s commitment to our customers – we will continue to deliver inspiring home furnishing products and solutions that help protect their homes and their loved ones too.”
“From our research, we found that complexity and costs were two major barriers to purchasing insurance,” explains Magnus Fredrikson, heading the project on Ikano’s end. “This is why our first insurance solution is based on the fundamentals of simplicity, affordability and consumer friendliness with an easy application process and on fair terms.” Together with Etiqa insurance, IKEA Singapore launched HEMSÄKER on 20 February 2020, with more markets to follow.
*Terms apply. Refer to insurance.ikea.sg for details.
About IKEA Singapore
Since its 1943 founding in Sweden, IKEA has created a better everyday life for the many people by offering well-designed, functional home furnishings at prices so low the majority of people can afford them. Today IKEA is the world’s largest home furnishing retailer, with more than 420 IKEA stores in 50 countries – including those in Singapore, Malaysia and Thailand owned and operated by Ikano Private Limited. We incorporate sustainability into our day-to-day business and support initiatives that benefit children and the environment. To learn more, visit IKEA.sg
About Ikano Pte Ltd
Ikano Private Limited owns and operates IKEA stores in Singapore, Malaysia and Thailand, offering millions of people in Southeast Asia access to the world’s largest range of well-designed, functional home furnishing products at affordable prices. We develop, own and operate Shopping Centres anchored by IKEA, and also create vibrant destinations by investing in residential, office and other types of real estate. Our multi-national team has projects in the pipeline and an ambition to double our business in coming years. We are part of the Ikano Group of companies and the only IKEA franchisee in the world today that is owned directly by the Kamprad family that founded IKEA.
About Etiqa Insurance
Protecting customers since 1961, Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore. We are regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act. Rated ‘A’ by Fitch in April 2019 for our financial strength and stable outlook, we humanise insurance by placing people over policies. With a comprehensive suite of insurance solutions for personal and business needs, we are committed to helping our customers plan for a better future. Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.
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Head of Group Communications
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