Industry

Insurance for Technology & Startups

Insurance solutions for tech companies, SaaS platforms, and startups in Singapore

Insurance for Technology Companies & Startups

Tech companies face a unique risk landscape. Your most valuable assets — code, data, intellectual property, and people — don't sit in a warehouse or on a factory floor. They live in servers, laptops, and the minds of your team. Traditional property insurance barely scratches the surface of what a tech company actually needs to protect.

The risks that matter most in tech are digital and professional. A platform outage costs your customers revenue and triggers SLA breach claims. A data breach exposes you to PDPA fines up to $1 million and customer lawsuits. A software bug causes a client's system to crash, and suddenly you're facing a professional negligence claim. And in the background, every Singapore startup is fighting to keep its best people in a market where talent is scarce and MNCs offer generous benefits packages.

Common Risks

Data breach and cyber liability. If your platform stores customer data — names, emails, payment information, health records — you're a target. Singapore's PDPA imposes strict data protection obligations and the PDPC has shown increasing willingness to issue significant fines. Cyber insurance covers breach response costs, regulatory fines, legal defence, and business interruption from cyber incidents.

Software and service liability. Your clients depend on your product working as promised. When it doesn't — a critical bug, a migration failure, an outage during peak hours — the financial impact can be significant. Professional indemnity insurance protects you against claims that your work or advice caused a client financial loss. Many enterprise clients and government agencies in Singapore require PI coverage as a condition of engagement.

Losing key people. Startups live and die by their teams. Offering competitive employee benefits — group medical, dental, and life insurance — isn't just a perk. It's a strategic tool for attracting talent away from companies that can offer higher base salaries. A strong benefits package signals that your company is well-run and cares about its people.

IP and contract disputes. As your tech company grows, the likelihood of IP disputes increases. Whether it's a patent claim, a copyright issue, or a contract dispute with a vendor, legal costs can escalate quickly. PI insurance and cyber insurance both include elements of legal defence that help manage this exposure.

Key Risks

Key Risks for Technology & Startups

Common exposures that technology & startups businesses face — and why the right coverage matters.

Cyber attacks and data breaches

Tech companies handle vast amounts of customer data and operate critical digital systems. A data breach or ransomware attack can trigger PDPA fines, customer lawsuits, and devastating reputational damage.

Professional liability claims

Software bugs, integration failures, project delays, and platform outages can cause financial losses for your clients — who may hold you legally responsible.

Talent loss

In Singapore's competitive tech market, losing key engineers, product managers, or sales leaders to companies with better benefits can cripple a growing startup.

Intellectual property disputes

Patent trolls, copyright claims, and IP disputes can result in expensive legal battles — even if the claims are without merit.

Recommended Insurance Products

Based on the risk profile of technology & startups businesses, we typically recommend the following coverage.

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