Income Insurance Limited - Insurer Innovation Award 2024

1. MAY 2024
PRIVATE & CONFIDENTIAL
The Digital Insurer – Insurer
Innovation Award 2024 - APAC
SNACK by Income

2. Emerging customer segments just want to live their best lives…
Building their Protection
coverage is not top of mind
Insurance is not something they
think about

3. SNACK by Income – SG’s first lifestyle based stackable Insurance
CUSTOMER
JOURNEY
HOW
IT
WORKS
Users accumulate insurance by going about daily activities
SNACK by Income is a
financial lifestyle app that
helps you be good with
your money.
We help you build up your
insurance and investment
a little at a time through
your daily activities, so
that you can focus on
living your best life, we
sort out your finances with
our lifestyle top ups,
cashback and deals
subscription features

4. Your Lifestyle builds your Coverage
 SNACK let users build
insurance coverage and
investments, a little at a time
 Users just link their
Visa/Mastercard that they use
on their lifestyle activities, and
live their life
 Users choose a small premium
($0.30-$1) to set aside to their
micro policy whenever they
make a transaction

5. Your favorite brands give you Coverage ‘cashback’
 SNACK has established strategic partnerships
with esteemed brands, including ijooz and Fave,
to offer users cashback rewards in the form of
insurance premiums or investment credits
 This collaborative approach drives traffic to
partner brands while empowering users to build
their insurance coverage, fostering a mutually
beneficial relationship
 This win-win partnership model benefits both
brands and users, promoting growth and financial
security through innovative incentives and
rewards
$18.90

6. Your Lifestyle, Your World
 We help users to track their spending, and
understand their Carbon Impact
 Make a difference: Choose how you want
to compensate your emission with your
transactions.
 Empowering eco-conscious adults to build
their coverage that aligns with their values
and contributes to a sustainable future.

7. Using AI to turn transactions into Lifestyle Insights
 Harnessing the power of Artificial Intelligence,
SNACK will provide users with data-driven insights
into their lifestyle patterns, empowering them to
make informed decisions that align with their
values and goals.
 SNACK's AI capabilities will enable users to
analyze their lifestyle such as public versus private
transportation and shopping habits, including
tendencies such as late-night online shopping or
regular grocery purchases.
 SNACK's AI will offer personalized
recommendations to optimize their financial
management, foster healthy habits, promoting
financial awareness and smart decision-making

8. Serving new customer segments and doubling our size year on year
in both active
users and
premium since
launch
>100k download
>40k Sign-ups
SNACK ecosystem powered by >150 partners
Launched in Apr 2020
>300k downloads
100k sign-ups
>150 Partners onboarded
Recognized as innovation leader
Result
2nd Place winner in Financial Institution Category
At Singapore Fintech Festival 2021
Users buy more
than 4 products
SNACK ussers
below 35
Total sum assured
since launch
SNACK App
UOB YOLO
>30%
>70%
S$380m
2X
y-o-y

9. Continuous innovation to grow with our customers
SNACK continues to
revolutionize the insurance
landscape by making
Insurance fun, relatable
and engaging for young
adults, ensuring a lasting
impact through constant
innovation and targeted
engagement.
We are proud to be
launching a smart Carbon
Calculator, enabling eco-
conscious adults to build
their insurance coverage
that not only protects their
assets but also supports a
socially responsible
agenda.
SNACK’s integration of
Artificial Intelligence will
provide users with
actionable insights and
personalized
recommendations to foster
a healthier lifestyle