Thursday, December 27, 2018

Doing what is best for Singaporeans

Tay Albert said:
Kin Lian of late I hv noticed u are beginning to have some good points Hopefully u will continue to champion the course to help reinstate our nation to be what we once were ie a nation that people around the world can respect n trust.
I was one of your critics becoz of yr position at ntuc income and u were notable in creating a monopoly in the insurance industry rather unfairly n has cause many who prior to income 's existence be out of work in order to try to corner the market
And I always believe that a leopard never change its spot We know who you are n perhaps you may know my late father and my uncle Hever seeing now u r in support of Leong n lim I hope you mean well and if that's the case I wish you all the best. Majulah Singapore!

Dear Albert,
NTUC Income was not a monopoly in life insurance, nor in motor insurance, nor in health insurance.
It was a cooperative, with the aim of reducing cost for consumers. We reduced our cost so that consumers paid a lower price.
We did force our competitors to reduce their prices to stay competitive. But we were not a monopoly. Not by any means.
Many people remembered me for the good work that NTUC Income contributed during the time that I was in charge.
Some were unhappy that their claims were not settled according to their expectation. But it was generally due to some misunderstanding. It was never our policy to deny claims to make a bigger profit. We were not profit-driven, unlike most businesses and govt linked companies.
My actions in recent years is a continuation of what I tried to do for the past decades - how to reduce cost for consumers and offer a better value to them. I believe that the citizens of Singapore deserve a better deal compared to what is being given to us by the PAP govt.
I thank you for voicing your views, so that I have a chance to clarify this point.

No comments:

Blog Archive