For every booking made on the DBS Travel Marketplace, every traveller named in the party will receive complimentary travel insurance, underwritten by Chubb Insurance Singapore Limited, which covers them for four major travel inconveniences: journey cancellation; travel delay; baggage delay; accidental death and disablement. In addition, DBS/POSB customers can also choose to offset the cost of their travel bookings with their DBS Points or POSB Daily$. The beta launch of DBS Travel Marketplace follows a recently signed memorandum of understanding between DBS and SIA to enhance digital capabilities across various digital platforms. DBS is the first bank which SIA has connected with via API technology for direct flight ticket sales. Over the next few months, DBS and SIA will enable customers to manage their flight bookings, as well as introduce KrisShop merchandising capabilities, on DBS Travel Marketplace. The bank is also the first bank in APAC which EPS has connected with via their API technology, Rapid, for direct hotel bookings. This will expand opportunities for travellers by providing immediate access to competitive hotel deals, including Expedia Group’s offering of more than 500,000 accommodations across over 25,000 destinations worldwide.DBS intends to tie up with more travel ecosystem partners to gradually introduce a slew of updates that will expand its flight and accommodation inventories, enable more payment options, and provide a travel shopping experience, among others.DBS’ Car, Property and Electricity Marketplaces DBS is uniquely well-placed in the marketplaces space as it banks most of Singapore. The bank has more than five million retail customers, and banks more than one in two SMEs. This enables DBS to build marketplaces with robust ecosystems in partnership with global companies, SMEs and with the aid of consumer insights. In addition, DBS’ sites are among the most visited in Singapore, which allows the bank to leverage its popular online channels to attract customers to relevant marketplaces for their lifestyle needs.Since its launch as Singapore’s largest direct seller-to-buyer car marketplace, DBS Car Marketplace has attracted more than 550,000 unique visits. DBS Property Marketplace has in turn generated more than SGD 300 million in home loan requests within the first 12 months. Customers can choose from more than 30 price plans offered by seven alternative electricity retailers on DBS Electricity Marketplace, which has registered more than 300,000 unique visits to date. Appendix – Partner Quotes
Singapore Airlines “DBS is the first bank partner we are connecting to our booking API, giving DBS customers the ability to book Singapore Airlines flights directly from the Travel Marketplace platform. This enhancement is part of SIA’s broader drive to expand distribution into new digital ecosystems, to be present where customers are, thus improving their convenience and experience,” said Singapore Airlines Senior Vice President Sales and Marketing, Mr Campbell Wilson.Expedia Partner Solutions “EPS unlocks the power of Expedia Group for our partners and we are excited to work with DBS across such an important region as Asia. At EPS we are laser focused on developing the latest technology to help our partners thrive as digital leaders. Through access to our global supply of accommodations, DBS can provide competitive rates on hotel stays and offer customers a seamless travel booking experience,” said Chris Williams, Regional Vice President, Expedia Partner Solutions, APAC. Chubb Insurance Singapore Limited“In biennial travel surveys conducted in Singapore by Chubb, respondents cited being injured when travelling as their top worry, while flight delays were the most common travel hardship experienced. In partnership with DBS, Chubb aims to provide DBS/POSB Cardmembers with complimentary travel protection which addresses these concerns with coverage for personal accident and travel inconveniences to enhance the overall travel experience.” said Mr. Scott Simpson, Country President for Chubb in Singapore.
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