Experimenting in the sandbox

 

Active Sandbox Experiments

All active sandbox experiments will be listed in the table below:

Sandbox Entity 

Start Date of the Sandbox Period 

Expiry Date of the Sandbox Period 

 Remarks

Company: Inzsure Pte Ltd

Incorporated In: Singapore

Address: 20 Collyer Quay #09-01 Singapore 049319

Telephone: +65 9859 8880

Institution Type: Insurance Brokers

01 Nov 2018

31 Oct 2019

Clients of Inzsure Pte Ltd will not have access to the dispute resolution scheme managed by the Financial Industry Disputes Resolution Centre (FIDReC).

 

The following entities have exited the sandbox and did not obtain the relevant regulatory status:

Sandbox Entity

Start Date of the Sandbox Period

Expiry Date of the Sandbox Period

Remarks

Company: MetLife Innovation Centre Pte Ltd ("MICPL")

Incorporated In: Singapore

Address: 9 North Buona Vista Drive,#20-05, Metropolis Tower One,Singapore 138588

Telephone: +65 6715 8809

Institution Type: Direct Insurer (General)

18 Jun 2018

17 Mar 2019

MICPL has exited the sandbox on 17 Mar 2019.

 

With effect from 18 Mar 2019, MICPL can no longer carry on insurance business in Singapore.

 

MICPL has to fulfil all its contractual obligations to all its policy owners.

Company:TransferFriend Pte Ltd

Incorporated In: Singapore

Address: 331 North Bridge Road, #02-01 Odeon Towers, Singapore 188720

Telephone: +65 3159 0029

Institution Type: Remittance Business

22 Jan 2018

21 Jul 2018

TransferFriend Pte Ltd has exited the sandbox on 21 Jul 2018.

 

With effect from 22 Jul 2018, TransferFriend Pte Ltd is no longer licensed to advertise or carry on a remittance business in Singapore.

 

Engaging the services of a sandbox entity

From time to time, MAS receives information on companies that have claimed to be approved by MAS to experiment in the sandbox. Consumers should exercise care when dealing with these companies or with other persons acting on their behalf. Find out more here.

Are you thinking about purchasing a product or engaging the services of a company that is operating in the sandbox? Find out more here.

 

Last Modified on 19/03/2019