Where to Complain About Insurance in Singapore: MAS, FIDReC, or MoneySmart?

Where to Complain About Insurance in Singapore: MAS, FIDReC, or MoneySmart?

When your insurance claim is denied in Singapore, you will likely encounter multiple names: MAS, FIDReC, and MoneySmart. Each plays a different role, and understanding the distinction is critical to directing your complaint to the right place — and maximising your chance of a successful outcome.

This guide explains exactly what each body does, what it cannot do, and when you should use each one.

The Three Channels: A Quick Overview

Channel	Role	Binding Decisions?	Free?	Best For
MAS	Financial regulator — supervisory	No (for individual claims)	Yes	Regulatory complaints, systemic misconduct
FIDReC	Independent dispute resolution	Yes (adjudication, up to SGD 100K)	Yes	Individual claim disputes
MoneySmart	Financial comparison and information	N/A	Yes	Information and comparison, not complaints

The short answer for most people: FIDReC is where you go to resolve your individual insurance dispute. MAS is for regulatory concerns. MoneySmart is for information only.

MAS: The Monetary Authority of Singapore

What MAS Is

The Monetary Authority of Singapore (MAS) at mas.gov.sg is Singapore's central bank and integrated financial regulator. For insurance, MAS:

• Licenses and supervises all insurance companies operating in Singapore
• Sets regulatory standards for product design, sales practices, and claims handling
• Requires insurers to be members of FIDReC
• Issues guidelines on fair dealing with consumers (FAA-G11)
• Monitors compliance with the Insurance Act

What MAS Can Do for You

MAS accepts consumer complaints via its online portal at mas.gov.sg/complaints. When you file with MAS:

• MAS logs the complaint as regulatory intelligence
• MAS may investigate patterns of insurer misconduct
• MAS can take regulatory action (fines, public reprimands, license conditions) against non-compliant insurers
• MAS can require insurers to remediate groups of affected consumers if systemic issues are found

What MAS Cannot Do

MAS cannot:

• Adjudicate your individual claim dispute
• Order your insurer to pay your specific claim
• Act as your legal representative or advocate
• Guarantee any outcome in your individual case

MAS is a regulator, not a consumer dispute resolution body. Filing a complaint with MAS does not guarantee — or even make likely — that your individual claim will be paid. MAS may not even update you on the outcome of its investigation.

When to File with MAS

File with MAS when:

• You believe the insurer has engaged in mis-selling or deceptive practices
• You believe the insurer has breached Singapore's Insurance Act or other regulations
• You want to alert the regulator to a pattern of behaviour (for example, systematic claim denials affecting many consumers)
• The insurer is operating without an MAS licence

Do NOT file only with MAS if your primary goal is to get your individual claim paid. Use FIDReC for that.

FIDReC: Financial Industry Disputes Resolution Centre

What FIDReC Is

FIDReC at fidrec.com.sg is Singapore's independent, free dispute resolution body for financial services — including insurance. It was established in 2005 with MAS support and is the primary channel for resolving individual insurance claim disputes in Singapore.

What FIDReC Can Do for You

FIDReC is the channel you need if you want your insurance dispute resolved:

• Mediation: A trained FIDReC mediator facilitates negotiation between you and your insurer. Approximately 50-60% of disputes resolve at this stage.
• Adjudication: If mediation fails, an independent adjudicator reviews the case and issues a binding decision (binding on the insurer — not on you).
• Award limits: FIDReC can award up to SGD 100,000 per dispute.
• Free for consumers: Insurers pay the case fee; you pay nothing.
• Timelines: Mediation resolves most cases within 3 to 6 months; adjudication may take 9 to 12 months for complex disputes.

What FIDReC Cannot Do

FIDReC cannot:

• Award amounts above SGD 100,000 per claim
• Handle disputes involving unlicensed entities
• Act as your legal representative
• Take regulatory action against the insurer

When to File with FIDReC

File with FIDReC when:

• Your insurer has denied your claim or failed to pay promptly
• You have exhausted the insurer's internal complaints process (required)
• Your dispute involves a claim of up to SGD 100,000
• You want a free, independent, binding resolution

FIDReC should be your primary escalation channel after the insurer's internal appeal fails.

MoneySmart: Singapore's Financial Comparison Platform

What MoneySmart Is

MoneySmart at moneysmart.sg is an independent financial comparison and information website operating in Singapore (and other markets). MoneySmart provides:

• Comparisons of insurance products, premiums, and coverage
• Educational articles about insurance, investing, and personal finance
• Tools for calculating coverage needs and premium costs
• Reviews and ratings of insurance products

What MoneySmart Cannot Do

MoneySmart is not a regulatory body or a dispute resolution service. It cannot:

• Resolve your insurance dispute
• Order any insurer to pay your claim
• Accept formal complaints for processing
• Provide legal advice

When to Use MoneySmart

Use MoneySmart when:

• You are researching which insurance product to buy
• You want to compare premiums and coverage across insurers
• You want to understand how different insurance products work
• You are trying to assess whether your insurer's prices are competitive before renewal

MoneySmart is a research and information tool, not a complaint or dispute resolution service.

The Correct Complaint Pathway in Singapore

Here is the right sequence for resolving an insurance dispute in Singapore:

Step 1: Contact Your Insurer's Complaints Department

Before approaching any external body, you must exhaust the insurer's internal complaint process. Write a formal complaint to the insurer's Customer Relations or Complaints Department. Under MAS guidelines, the insurer must:

• Acknowledge your complaint within 5 business days
• Provide a final response within 21 working days

ClaimBack at claimback.app generates a professional, MAS-aligned complaint and appeal letter for this step. A well-structured internal appeal frequently resolves the dispute without any need for further escalation.

Step 2: If Unsatisfied — File with FIDReC

If the insurer's final response does not resolve your complaint, file with FIDReC at fidrec.com.sg within 6 months of the insurer's final response.

Step 3: Report Regulatory Concerns to MAS

If you believe the insurer's conduct involves regulatory violations — mis-selling, unlicensed activity, or systematic unfair dealing — report this to MAS at mas.gov.sg/complaints. You can do this in parallel with your FIDReC filing.

Step 4: Use MoneySmart for Research (Any Time)

At any point, use MoneySmart to research your policy options, compare alternatives, and understand your coverage — but not to resolve a dispute.

Common Mistakes Singaporeans Make

Filing only with MAS expecting individual resolution: MAS will log your complaint but cannot resolve your individual claim. FIDReC is the right body for that.

Not exhausting internal complaints before FIDReC: FIDReC requires evidence that you have first attempted resolution with the insurer. Skipping this step causes delay.

Missing FIDReC's 6-month filing deadline: This is the most serious mistake. You have exactly 6 months from the insurer's final response to file with FIDReC.

Confusing MoneySmart with a regulator: MoneySmart is a private comparison site. Filing a "complaint" there will not result in any regulatory action or claim payment.

Conclusion

In Singapore, the path to resolving an insurance dispute is clear: internal appeal first (use ClaimBack at claimback.app to get this right), FIDReC for independent adjudication, and MAS for regulatory concerns. MoneySmart is a valuable information resource but is not part of the complaint resolution process. Use the right channel for the right purpose, and you will maximise your chances of a successful outcome.