Allianz Cyber360 Protect Renamed to Allianz Scam Protect — Because When It Comes to Scams, Clarity Matters

Singapore insurer Allianz has renamed its personal cyber insurance product from Allianz Cyber360 Protect to Allianz Scam Protect. This change aims to more accurately reflect the coverage provided by the policy, which specifically protects Singaporeans from financial losses due to scams.

The new name highlights the product's focus on scam protection, as opposed to a broader "cyber" term that may not resonate with the general public. Allianz notes that in Singapore, people commonly refer to these incidents as scams, as seen in recent high-profile cases.

The renamed Allianz Scam Protect policy offers coverage for financial losses resulting from various scam techniques, including phishing, smishing, stolen payment credentials, and unauthorized transactions (up to S$25,000 for Gold coverage, and S$60,000 for Platinum coverage). It also extends protection to online shopping disputes involving issues like undelivered, damaged, or incorrect items.

Allianz emphasizes that the policy's coverage remains unchanged, but the new name ensures that those seeking protection against scams can easily find and understand their insurance option. Existing policyholders will see the updated name at their next renewal, with no action required from them.

The Allianz Scam Protect plan is available starting at S$8.91 per month and can be purchased on Allianz's website or through their network of authorized distribution partners. For any inquiries, customers can reach the Allianz Customer Service Team at +65 6222 1919 during business hours, Monday through Friday. Coverage terms, conditions, and exclusions are outlined in the Allianz Scam Protect policy, which is backed by the Policy Owners' Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC).