Industries
Data room for insurance deals
Short answerInsurance deals involve actuarial valuations, reserving, reinsurance and MAS approvals, plus large volumes of policy data. Share aggregated and anonymised data, restrict actuarial reports and plan for regulatory approval of the transfer.
How it works in Singapore
Singapore is a regional insurance and reinsurance hub. Deals include acquisitions of insurers, portfolio transfers and broker consolidation.
Best data rooms for insurance
Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.
- 1
Ellty ~S$191/mo 9.1 Visit Ellty - 2
iDeals On quote 8.8 - 3
Datasite On quote 8.7 - 4
Intralinks On quote 8.6 - 5
Ansarada On quote 8.5 - 6
Firmex On quote 8.4 - 7
Drooms On quote 8.3 - 8
SmartRoom On quote 8.2 - 9
Box ~S$19/user/mo 8.1 - 10
Citrix ShareFile ~S$70/mo 8.0
29%Security18%Deal tools21%Permissions16%Ease of use16%Cost
Folder index for insurance
01
RegulatoryLicences and MAS correspondence.
02
ActuarialValuations and reserving reports.
03
ReinsuranceTreaties and programmes.
04
PortfolioAnonymised policy data.
05
DistributionAgency and bancassurance agreements.
Singapore rules that apply
Insurance Act
Acquiring control of an insurer and transferring business need MAS approval.
PDPA
Policyholder data must be anonymised for due diligence.
More detail: MAS technology risk, PDPA.
Features you need
| Feature | Why it matters here | Rooms in our top 10 that list it |
|---|---|---|
| View and download control | Each file can be set to view-only, print or download, and the setting can be changed later. | 9 of 10 |
| Audit trail | Time-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator. | 10 of 10 |
| Redaction | NRIC numbers, salaries or client names are blacked out on the platform, with no second copy of the file to manage. | 6 of 10 |
| Two-factor login | Every login needs a one-time code, app approval or security key as well as the password. | 10 of 10 |
How to set it up
- Anonymise policiesUse data tapes without identifiers.
Mistakes to avoid
- Policyholder data shared in identifiable form.
- Reinsurance consents missed.
Questions people ask
Does an insurance deal need MAS approval?
Acquiring control of an insurer or transferring a portfolio generally requires MAS approval.
What do buyers review?
Actuarial reserves, reinsurance, distribution and regulatory compliance.
Is policy data shared?
Only in anonymised form.