Life Insurance Association

Name

Life Insurance Association

Legal name

Life Insurance Association Singapore

Website

https://lia.org.sg

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Industry Trade Association (Insurance)

NAICS

Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Group Term Life Insurance (FSAIAAAJ), Participating (Dividend) Whole Life Insurance (FSAIABAI), Life Reinsurance (Mortality) (FSAIANAA)

Keywords

• Life insurance association
• Industry trade body
• Insurance industry guidelines
• Consumer financial literacy
• Protection gap research

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Distribution channels1 record

Marketing channels4 records

Core offering

Life Insurance Association Singapore is a non-profit industry trade body representing life insurance companies operating in Singapore. It develops and publishes industry guidelines (covering Distribution Channels, Health Insurance, Integrated Shield Plans, Moratorium on Genetic Testing, and Industry Practices), delivers consumer education tools such as the CompareFIRST comparison platform and the Life Insurance Calculator, and conducts research including Protection Gap Studies to inform industry and policy positions on life and health insurance.

Product overview

The Life Insurance Association Singapore is a trade association representing life insurers in Singapore. Its product and service offerings consist of industry guidelines and standards (covering distribution channels, health insurance, Integrated Shield Plans, and industry practices), consumer-facing tools (CompareFIRST for plan comparisons, Life Insurance Calculator for coverage assessment), educational resources (Consumer Guides, Insurance Terms glossary, Legacy Planning tools), and industry research initiatives (Protection Gap Study examining mortality and critical illness coverage gaps). The association also coordinates industry-wide initiatives through committees like the Insurance Culture and Conduct Steering Committee (ICCSC) and Health Insurance Task Force, while publishing claims interest rates and industry performance data. LIA Singapore does not offer a commercial software product but rather serves as an industry body providing standards, tools, and resources for member companies and consumers.

Differentiator

Problem solved

Functional benefit

Brands

• Insurance Culture and Conduct Steering Committee (ICCSC): A committee under LIA Singapore that focuses on customer touchpoints and customer sentiments in the insurance industry.
• Integrated Shield Plan (IP)
• CompareFIRST
• Protection Gap Calculator

Products and services

• LIA Membership Core membership offering for life insurance companies operating in Singapore, providing industry representation, access to industry guidelines, participation on the Management Committee, and coordinated advocacy with regulators including the Ministry of Health and the Monetary Authority of Singapore.
• CompareFIRST An online comparison tool that helps consumers compare different life and health insurance products and plans available in Singapore.
• Life Insurance Calculator An online calculator tool that helps consumers assess their insurance needs, calculate coverage requirements, and analyze their protection gap.
• Industry Guidelines (Distribution Channels, Health Insurance, Integrated Shield Plan, Industry Practices, Products, Technology, Moratorium on Genetic Testing) Industry standards covering distribution channels, health insurance practices, Integrated Shield Plans, product standards, technology guidelines, and the Moratorium on Genetic Testing and Insurance for member insurers in Singapore.
• Protection Gap Study A research initiative examining the mortality and critical illness protection gap among working adults in Singapore, used to inform industry and policy advocacy.
• Financial Literacy Programme for Gen Zs An educational programme announced by the LIA Singapore Management Committee 2026-2027 to provide financial literacy workshops targeted at Gen Z students in Singapore.
• Insurance Culture and Conduct Steering Committee (ICCSC) An industry committee under LIA Singapore focused on improving customer touchpoints and addressing shifts in customer sentiments within the insurance industry, producing initiatives such as the Insurance Trust Indicator Study.
• Health Insurance Task Force (HITF) Industry task force established to address escalating claims costs for Integrated Shield Plans and provide recommendations on managing health insurance costs.

Quantifiable outcome

• S$6.53 billion Total Weighted New Business Premiums in 2025
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Ministry of Health (Singapore)coreStrategic or Co-development Partner · 1 April 2026LIA Singapore works with the Ministry of Health on Integrated Shield Plan requirements. All seven IP insurers must launch new riders by April 1 to comply with Ministry requirements. LIA calls for collective action between insurers, healthcare providers, consumers, and authorities.
• WTW (Willis Towers Watson)minorStrategic or Co-development Partner · 1 January 2026LIA Singapore references the WTW 2026 Global Medical Trends report for data on medical cost inflation in Singapore. WTW provides industry research and benchmarking data that LIA uses to inform its positions on healthcare costs.
• Seven Integrated Shield Plan InsurerscoreOthers · 1 January 2026LIA represents all seven Integrated Shield Plan insurers. These member companies are working collectively to address rising healthcare costs and comply with new Ministry of Health requirements for rider changes.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Insurance Council of Australia: ICA represents general insurers in Australia. Comparable as a regional industry body with similar advocacy and consumer-protection roles in a developed Asia-Pacific insurance market alongside LIA.
• Singapore Reinsurers' Association: SRA is a Singapore-based industry body focused on reinsurance. Comparable as a domestic insurance-related trade association with overlapping membership among Singapore-based insurance and reinsurance companies.

Broad incumbents

• Insurance Europe: Insurance Europe is the European insurance and reinsurance federation representing insurers at the EU level. Comparable as a continental-scale insurance trade body with similar advocacy, research, and consumer education functions.
• American Council of Life Insurers (ACLI): ACLI is the US national trade association for life insurers, providing advocacy, research, and policy development. Comparable as a national life insurance industry body representing carrier interests with regulators.
• Association of British Insurers (ABI): ABI is the UK's leading insurance industry trade body covering life, general, and other insurers. Comparable as a national trade association providing collective industry representation, consumer education, and policy advocacy.
• Life Insurance Marketing and Research Association (LIMRA): LIMRA is a larger, established US-headquartered insurance industry research and trade body. Comparable as a life insurance industry association providing research, benchmarking, and member services to life insurers globally.

Others

• Monetary Authority of Singapore (MAS): MAS is Singapore's integrated financial regulator that oversees insurers and sets capital frameworks (e.g., Notice 133 refinements). Relevant as the primary regulator with which LIA engages on industry policy and member conduct.

Direct peers

• General Insurance Association of Singapore (GIA Singapore): GIA Singapore is the equivalent trade body for general (non-life) insurers in Singapore, co-partnered with LIA on the NRIC authentication phase-out. Directly comparable as a domestic insurance industry association with parallel advocacy and consumer protection functions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Life Insurance Association