We are pleased to share that Acclaim Insurance Broker, one of Singapore’s largest national broker, was awarded Singapore’s leading multi-modal public transport company, SMRT Corporation Ltd (SMRT), a subsidiary of Temasek Holdings, an investment arm of the Singapore government.
An insurance broker tender was called by SMRT in October 2019. 3 brokers were shortlisted for the tender — Acclaim (National Broker); the incumbent and another broker — both of which are the top 3 global brokers.
The tender was for a 3-year contract with an option to extend another 2 years to place and maintain their insurance program for more than 250 trains, 106 stations, 1,400 buses, 5,000 taxi and 10,000 employees.
Founder and Executive Chairman of Acclaim, Mr Anthony Lim commented, “With this appointment, it affirms Acclaim’s capabilities to successfully compete against the global brokers for large, complex and high value risks.”
SMRT being a very professional organization conducted a very robust and transparent tender process where all brokers had to present their comprehensive risk management solutions ranging from risk engineering to benefits solutions.
Mr Tony Lim, CEO of Acclaim, who led the team to present our proposal to SMRT senior management expressed his appreciation for their trust in Acclaim, “It was the cohesiveness of the team that binds our capabilities, knowledge and service delivery to ultimately convince a sophisticated and discerning corporation like SMRT.”
Many market players in the insurance industry were surprised by the unprecedented appointment of a national broker for an account that had always been serviced by global brokers.
QBE Insurance Singapore’s CEO, Mr Ronak Shah congratulated Acclaim for “… punching above its weight. Acclaim is a credible alternative to be reckoned with…”
In recognition of Acclaim’s teamwork, the senior management of SMRT congratulated us on our appointment and “(We) look forward to a great partnership.”