Introduction
Financialist Group (FG) recognizes its responsibilities in relation to the collection, usage, disclosure, storage and transfer of personal data under the Personal Data Protection Act (“PDPA”).
Personal data will be collected only for lawful and relevant purposes and reasonable steps will be taken to ensure that personal data held by Income is accurate. Income will take reasonable steps to protect the personal data and to avoid unauthorized access.
Customers
We at FG place the privacy interests of our customers high in our priorities. We are committed to protecting the privacy, confidentiality, accuracy and security of the personal data provided to us. Our Privacy Policy tells you how we collect, use, disclose, store and transfer your personal data. All our consultants are required to comply with our Privacy Policy when they carry out their daily activities.
Personal Data We Collect
Under PDPA, personal data is defined as information about an individual who can be identified from that data; or from that data and other information to which the organization has or is likely to have access.
As your preferred adviser of insurance products, services and advice, we require certain personal information from you for the purpose of offering suitable products and services to you. Personal data collected about you and your dependents may include:
General identification and contact information
Name, address and telephone number, age, date of birth, gender, family and marital status, occupation
Identification numbers issued by government agencies
NRIC, Passport, FIN No., vehicle registration number
Financial information and account details
Salary, assets, liabilities, properties, credit card number, bank account number and account details
Medical and health information
Health status, injury or disability information, medical procedures performed, personal habits (e.g. smoking or alcohol consumption) and medical history
Other Information enabling us to provide our products and services
- Previous insurance and claims experience
- Employment information
- Driving record
- Travel arrangements
How we use your personal data (Purpose & Notification Obligation)
We may collect and use your personal data to:
- identify you
- communicate effectively with you
- underwrite and price your application and any policy changes or renewals
- determine and verify your creditworthiness for the financial and insurance products you apply for
- provide financial advice and product recommendation
- provide you with ongoing services and respond to your inquiries or instructions
- make or obtain payments
- investigate and settle your claims
- recover any debt owed to us
- detect and prevent fraud, unlawful or improper activities
- provide insurance or financial related marketing products or services
- promote complementary products or services to you from business partners with whom we have formed an association
- conduct surveys, research and statistical analysis
- coach employees and monitor for quality assurance
- reinsure risks and for reinsurance administration
- comply with all applicable laws, including reporting to regulatory and industry entities
- resolve complaints, and handle requests for data access or correction
We will only collect and use personal data in an open, fair and lawful way that is necessary for the purposes identified by us above.
Releasing Your Data to Others (Transfer Out)
We may disclose your personal data to third parties:
- your financial advisers
- medical professionals and institutions
- insurers and reinsurers
- local service providers to provide us with services such as printing, mail distribution, data storage,
- data entry, marketing and research, disaster recovery or emergency assistance services
- debt collection agencies
- dispute resolution parties
- parties that assist us to investigate, administer and adjudicate your claim
- financial institutions
- credit reference agencies
- industry associations
- regulators, law enforcement and government agencies
- business partners and affiliated companies
We will only disclose your personal data as it is reasonably required for the purposes stated above and the data is limited to information necessary for us and these third parties to do the work. These parties are also required to comply with the Singapore Personal Data Protection Act.
We may transfer personal data to service providers outside of Singapore for processing, storage, analysis, disaster recovery or emergency assistance services and this data may be required to be disclosed to those authorized under the applicable laws of that foreign country. These service providers with whom we have contractual relationships are required to provide a standard of protection to the transferred personal data that is comparable to the protection under the Singapore Personal Data Protection Act and consistent with our personal data protection policies and practices.
Obtaining Your Consent (Consent Obligation)
We will only collect, use, disclose, store and transfer personal data for the above purposes with your consent or as allowed or required by law. We will tell you why we need your personal data before or at the time we collect it.
You can give your consent expressly or impliedly. Your expressed consent can be given to us in writing, verbally (e.g. through our call centre) or electronically (e.g. through our website). Your implied consent can be given to us from your action or nature of dealings. For example, when your healthcare provider provide your personal data to us to enable us to process the payment for your healthcare claim.
Your authorized representative (such as your financial adviser or a person having a power of attorney) may give consent on your behalf.
Withdrawing Your Consent
You may refuse or withdraw your consent for us to collect, use or disclose your personal data by giving us reasonable notice so long as there are no legal or contractual restrictions preventing you from doing so.
But if you withdraw consent for us to use your personal data, we will be unable to provide you with the products and services that you asked for or have with us, including preventing us from keeping your insurance cover in force or properly assessing and processing your claim. Withdrawing such consent will require you to surrender or terminate all your policies with us.
Using Information for Marketing Purposes
The information you supply will not be used by us for marketing purposes. However, if you wish to opt-in for marketing information, simply contact us to let us know.