China Life Insurance Singapore and Farrer Park Hospital Sign Memorandum of Understanding

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SINGAPORE, 8 November 2023 - China Life Insurance (Singapore) Pte. Ltd. ("CLIS") and Farrer Park Hospital (“FPH”) have signed Memorandum of Understanding (“MOU”). The MOU aims to establish a long-term partnership in various areas, including customer referrals, preferential policies, knowledge exchange, and consulting services. Both parties will collaborate to enhance market presence in the "Insurance + Healthcare" ecosystem, while jointly strive to promote the development in Singapore.

Farrer Park Hospital, open in 2016, aims to provide comprehensive medical solutions for patients. Over the past seven years, it has continuously evolved into an oasis for patients seeking high-quality healthcare. The vision and mission of FPH is focused to bring value to people through solutions for holistic healthcare, hospitality and wellness. It successfully navigated the storm of the COVID-19 pandemic, demonstrating unwavering commitment to quality care. This dedication has ushered in a new phase of development in healthcare.

Presently, CLIS is placing a strong emphasis on addressing the protection needs of its customers while actively exploring collaborations with relevant industries. Through its “Insurance+” ecosystem, it aims to establish connections to a wider range of sectors, including finance, technology, healthcare, education, retirement, taxation, investment, legal services, and daily living. The objective is to create a more comprehensive and higher-quality “Insurance+” ecosystem by consistently developing integrated solutions that offer exceptional products and services. CLIS is committed to providing outstanding, star-rated services that span the entire value chain and deliver utmost value to its diverse customer base.

Mr. Lin Xiangyang, Chief Executive of CLIS, and Ms. Kelly Yang, CEO of FPH & Group COO, signed the MOU. Mr. Lin Xiangyang expressed that the MOU represents a new milestone. He emphasized the company's commitment to elevating collaboration in the healthcare sector through a dual-track strategy centered on quality. Firstly, the company is devoted to establishing a comprehensive service platform for healthcare in international markets, aiming to broaden the value chain effectively. Secondly, the company will focus on enhancing the integration of medical insurance, introducing top-tier medical services, and developing customized insurance products. Collaborations with strategic partners will facilitate the delivery of high-quality health management services.