Income Insurance Limited (Income Insurance) announced the business transfer of its digital insurance platform, HIVE to Embed Financial Group Holdings Pte Ltd (EFGH), a Singapore-headquartered digital financial infrastructure group.

HIVE was developed and incubated within Income Insurance over the past five years to support product innovation, digital distribution, and customer engagement. The platform serves as an API-first digital infrastructure layer that connects core systems to distribution channels, orchestrating innovative insurance product constructs, data and customer journeys to embed insurance into everyday consumer moments. This enables insurers and partner platforms to launch insurance solutions at speed and at scale, including stackable micro-insurance, subscription-based and usage-based products.

The platform has been used to support partnerships with a range of ecosystem partners, including insurers, digital platforms and service providers in Singapore and the region, and has contributed to the development of more flexible and accessible insurance propositions that address protection gaps in Southeast Asia.

EFGH's operating model centers on enabling enterprises to integrate financial services, including insurance, into their existing customer journeys. Following the transfer, HIVE will form part of EFGH's broader technology stack supporting these use cases. The transfer will position HIVE beyond a regional digital ecosystem platform player, where it can continue to evolve globally with expanded market reach and broader international opportunities alongside complementary capabilities in embedded finance.

Income Insurance employees currently involved in the development and operation of HIVE will be transferred to EFGH as part of the business transfer to provide continuity for the platform while enabling the team to continue its work within a dedicated infrastructure environment.