Beginning January 2 next year, Singapore's Monetary Authority of Singapore (MAS) will allow insurance policyholders to nominate their beneficiaries digitally, an upgrade from the existing hard-copy and in-person process. Under the updated regulations, insurers may enable digital means for nominations, with witnesses or attestors using an audio-visual link or making online declarations regarding the policyholder's situation. However, the MAS emphasised that secure electronic signatures, such as those provided by Sign with Singpass, must be used to uphold the authenticity of records. The move aims to bring convenience and flexibility to policyholders, while maintaining robust control measures. Dennis Tan, CEO of Prudential Assurance Company Singapore, welcomed this enhancement and assured the industry's commitment to gradually rolling out these digital options.