Kamala vs. Trump USA Election, NTUC Income Insurance Privatization by Allianz & Indonesia D2C & Productivity Solutions Grant (PSG) - E452

Shiyan Koh, Managing Partner of Hustle Fund, and ​​Jeremy Au talked about three main themes:

1. Kamala vs. Trump USA Election: Jeremy and Shiyan discussed Kamala Harris stepping into the presidential race, and speculated on her potential policy directions and how her leadership might influence relations with Asia. The excitement around her candidacy and the shift in political dynamics were key points, along with how both parties still view being tough on China as beneficial.

2. NTUC Income Insurance Privatization by Allianz: Jeremy and Shiyan explored the implications of selling a majority stake of NTUC Income, Singapore's insurance cooperative, to Allianz. Allianz CEO's “We're not in Asia to buy top line; we want to build a resoundingly profitable business” reflects how this acquisition will transfer wealth from policyholders towards current shareholders. They debated the public policy rationale behind the decision, in light of the complexities of balancing profitability with social benefits in the insurance sector.

3. Indonesia D2C & Productivity Solutions Grant (PSG): Jeremy and Shiyan talked about the income distribution and purchasing power disparities in Indonesia, and shared about a founder who pivoted from a B2B SaaS model to a direct-to-consumer retail business called Lucky Bundle, which focuses on serving the lower-income 80% of the population. They also discussed the productivity solutions grant (PSG) in Singapore, discussing how government subsidies can impact market competitiveness. The implementation approach of these subsidies may accidentally support sub-standard vendors, thus hindering the development of globally competitive businesses.

Jeremy and Shiyan also covered the challenges of building in different GDP per capita zones, differences between public and private healthcare costs, and the role of cooperatives in balancing market dynamics.

Watch, listen or read the full insight at https://www.bravesea.com/blog/singapore-insurance-cooperative-privatization

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