Members of the Board of Governors of the Singapore College of Insurance,
Members of the Academic and Examination Board,
Faculty Members,
Distinguished Guests,
Graduates and family members,
Ladies and Gentlemen
1. I am delighted to join you today to celebrate our graduates and award recipients.
2. On behalf of the Singapore College of Insurance, let me extend my warmest congratulations. Today’s achievement reflects not only what you have learned, but also the discipline you have displayed in balancing study with work, family and other commitments.
3. I would like to specially recognise your family members, friends, colleagues and mentors. Pursuing professional qualifications often means late evenings, weekends given up and difficult choices about how and who you spend your remaining time with. It is almost inevitable that friends and loved ones have made sacrifices of their own to accommodate your studies and professional development. Your milestone today owes much to those journeying alongside you.
4. Allow me to take a slight detour and come back to the SCI and insurance. There is now football fever in Singapore because of the recent FIFA World Cup and the Lions’ surprising run to the Asean Championship semi-finals. I would like to draw your attention to an altogether different kind of football tournament. The Homeless World Cup is an annual international street soccer tournament featuring the homeless and asylum seekers. It seeks to transform lives and maximise opportunities for its players, regardless of gender. This alternative World Cup was the backdrop for a recent film - The Beautiful Game.
5. The film follows a team of impoverished players as they travel to Rome for the tournament. In one early scene, Mal, the coach, recognises Vinny’s footballing talent and invites him to join the team. Vinny resists. Accepting the invitation would mean acknowledging his financial hardship, including the fact that he has been living in his battered car. But the tournament gives Vinny and his team-mates much more than football. It gives them structure, belonging and a chance to recover dignity.
6. At its best, restoring dignity is also what insurance does. It does not erase hardship or remove uncertainty. But by pooling risks, honouring promises and standing by people at moments of loss, insurance gives confidence to help individuals, families and businesses begin again when misfortune strikes.
7. You are graduating today with a diploma or certificate from the SCI, to in turn start or further your career in Singapore’s insurance sector. Insurance, in its essence, is a quiet vow made in the present to shelter against an uncertain future. The importance of this responsibility is reflected in the support the insurance industry provides every day. In the first quarter of 2026 alone, Singapore’s life and health insurers paid S$5.79 billion in claims and maturity payouts. Meanwhile, general insurers paid S$1.8 billion in claims in 2026.
8. The risk landscape is becoming highly complex. Climate change, cyber threats, and geopolitical disruption are posing challenges to businesses and corporates. Ageing demographics and medical inflation are reshaping the needs of customers. Artificial intelligence is changing how insurers assess risk, serve customers and manage claims. Singapore’s position as an insurance and risk-management hub provides a strong foundation, but its continued success depends on capable professionals who combine expertise, sound judgement and a clear sense of responsibility.
9. Your SCI qualification builds on the experience you have already gained and strengthens your ability to contribute at a higher level. It is an important milestone in your continuing professional development and a platform for the next stage of your career. Allow me to share three principles that I hope will guide your career and shape the kind of professional you become.
10. First, be trustworthy. Insurance is a promise to be there for a future moment of need. Customers rely on insurers and their representatives to provide soundly designed products that cater to their needs, and to explain these products clearly and comprehensively. Do also be present and helpful when an unfortunate event happens and the time comes to file a claim. Technical expertise is important, but your integrity and empathy are indispensable. Your reputation will be built through small decisions made over the course of your career. Guard it jealously.
11. Second, be curious. The qualification you receive today is not the conclusion of learning; it is evidence that you know how to learn. The knowledge that brought you here will not be enough for the next twenty or thirty years. The professionals who thrive will be those who remain curious, upgrade their skills and knowledge, and continue investing in themselves throughout their careers.
12. Finally, be purposeful. Act in your customers’ best interest and keep them at the centre of your work. Behind every insurance policy is a person, family, or business that is counting on you to be there when it matters most. In doing so, you will make better decisions and become a better professional.
13. This also means having the courage to improve the industry. Many of you will become underwriters, actuaries, brokers, advisers, claims professionals and risk managers. Wherever your career takes you, find better ways to explain insurance, serve customers and manage emerging risks. Progress matters only when it strengthens trust and produces better outcomes for people.
14. As you walk out today with your SCI qualifications, I urge you to continue to be trustworthy, curious and purposeful. I started my remarks today by referencing the Homeless World Cup. Let me conclude with that. In last year’s tournament in Oslo, Uganda’s women’s team won. In a major upset, they defeated 9-time champions Mexico in the final, by a score of 6-0. The heroine that day was Sharifa Kitali, Uganda’s goalkeeper who basically blocked and saved everything that came her way. She emerged from the slums in Kampala to bring pride to her country. In Sharifa’s words, her amazing story is about second chances, particularly for those who think “their story is already written”. No policyholder’s story is truly finished when disaster hits, because insurance and those of you in this room are there to provide that second chance.
15. To the insurance professionals here, thank you for your service and contributions to societal resilience. To the graduates today, congratulations again on reaching this milestone. I wish all of you a fulfilling career in the insurance industry.
16. Thank you.
Reference notes:
LIA Singapore, Q1 2026 results (13 May 2026);
GIA Singapore, 2025 annual sector results (25 March 2026).
