Razer Fintech has elevated its collaboration with FWD Singapore (FWD), the specialist digital insurance provider in the region, by providing insurance coverage to its users in Singapore as part of the recently launched Razer Card.

The launch of Visa prepaid card solution unveiled recently by Razer Fintech and Visa, will see FWD will offer $100,000 complimentary term life insurance coverage to each of the first 1,337 users who qualify to be Razer Premium Cardholders.

Lee Li Meng, Chief Executive Officer, Razer Fintech, commented: “We are excited to collaborate with our strategic partner to address and plug this crucial gap in insurance coverage for this segment. 

“We believe that it is imperative for the youth and millennials to be adequately insured, in order for them to have a secured head start to life. This is the first of many initiatives to come where we look to further expand our product offerings to better support the needs of the underserved youth and millennials segment.”

It comes after collaborations between Razer Fintech and FWD as the pair have sought to serve the needs of the youth and millennials locally. 

FWD Singapore CEO, Khor Kee Eng, added: “FWD is glad to work with like-minded partners like Razer Fintech to change the way people feel about insurance. To this end, we’ve continually invested in the right technology to make the end-to-end process of getting insured simple, seamless and stress-free for our customers in Singapore, many of whom are also millennials and young working adults. In this regard, we are glad to be able to ride on our customer-led approach to benefit more people.”

Expert Analysis: This collaboration is undoubtedly well-positioned to support the needs of consumers. Through a deepened focus on tech and an elevated desire for efficiency, the launch can be fruitful for firms.