The main problem with this story is it doesn’t say what it can’t do as a co-op but can do as a company. And why. Instead we are thrown words like flexible and more competitive and more responsive as though they are magic words.
There are THREE other stories on this and it still doesn’t give anything specific about the above. All we have is suddenly, NTUC will be able to raise money, offer more products competitively and ‘aligned to the market’. So a co-op now cannot raise money, can only offer some products and is not aligned with the market – because its social mission is ‘people’ not profits. What does this mean for current policyholders? Have they been short-changed in some way? Or getting benefits as co-op members which they will no longer get? What do the other companies do that NTUC can’t right now for its policyholders? They offer lower premiums???
Can media get the CORE story right first before jumping to reactions and analysis? The FAQs don’t help – only says co-op got social mission while company focused on profits