Building Singapore's Leading Insurance Marketplace: A Top Financial Advisor's Digital Revolution
When a top 5% global financial advisor with over a decade of industry success decides to walk away from a lucrative career to build something entirely new, you pay attention. Cherie Wang, co-founder and CEO of Planner Bee, did exactly that—launching Singapore's most comprehensive insurance comparison platform during the height of the COVID-19 pandemic with a $1 million personal investment.
Today, Planner Bee compares over 500 insurance products from 29 insurers, serving as an unbiased marketplace that's transforming how Singaporeans approach financial planning. Recognized as one of Singapore's Top 100 Women in Tech in 2021, Cherie's journey from Chartered Financial Consultant to insurtech pioneer illustrates how intimate knowledge of an industry's pain points can drive revolutionary change.
This conversation explores the pivotal decision to leave financial advisory success behind, the strategic thinking required to launch during unprecedented uncertainty, and the vision of making transparent, accessible financial planning available to everyone—not just the wealthy.
1. You had a really successful career as a financial advisor - top 5% globally, Million Dollar Round Table member. What made you walk away from that to start something completely new? And honestly, was there a moment early on where you thought "what have I done?"
Leaving a successful career as a financial advisor wasn't easy. I had built a strong reputation, was in the top 5% globally, and truly enjoyed helping my clients. But over time, I started seeing the limitations of the traditional model. Financial planning was still largely manual, opaque, and heavily reliant on individual agents. I realised that high-net-worth individuals had access to structured advice, transparency, and personalized strategies, shouldn't be reserved just for the wealthy. Regular people deserve that same level of clarity and control.
I became convinced that the future of financial planning lies in digitalization and standardization. Technology can make financial advice more accessible, affordable, and unbiased, empowering people to make informed decisions on their own terms. That belief drove me to build Planner Bee.
Of course, there were moments early on especially during the pandemic when I thought, "What have I done?" I had invested a significant amount of my own savings, and we were operating in complete uncertainty. But that vision of a fairer, more transparent financial future kept me grounded. I knew this was the right thing to do, not just for me, but for the everyday person trying to take control of their money.
2. You launched Planner Bee in 2020 during the Circuit Breaker period and invested $1 million of your own money during a pandemic. Now you're growing the platform and expanding features. How has leading through that initial uncertainty shaped how you approach growth decisions and team building today?
Launching during COVID was intense. The world was on pause, yet I was hitting "go" on this risky, untested venture. It forced me to be both bold and cautious at the same time. Every decision felt amplified, there was no room for waste, and no safety net. But that constraint made us incredibly focused. It taught me how to operate lean, stay close to our users, and adapt quickly.
In terms of team building, I look for resilience and clarity. I want people who can thrive in ambiguity but stay anchored in purpose. We don't hire just for skills, we hire for conviction. And in terms of growth, I've learned not to chase every shiny opportunity. We double down on what our users actually want and what we can uniquely solve for. That discipline came directly from launching in crisis mode.
3. The insurance industry in Singapore has operated the same way for decades. You're essentially telling people they don't need agents and can do this themselves. How do you convince consumers to trust your platform, especially when you're going up against the very system you used to be part of?
It’s true that what we’re doing is disruptive. But it’s also overdue. People today are empowered in every aspect of life, from booking their own travel to managing investments online. Why should insurance be any different?
I spent over a decade in the traditional system, so I understand both its strengths and its blind spots. Our message isn't “you don't need help,” it’s “you deserve to understand what you're buying.” Planner Bee gives users the tools to make informed, confident decisions, whether they eventually buy from us, or even elsewhere.
Trust doesn't come from flashy marketing, it comes from transparency. We show users real comparisons, we educate without bias, and we never push a product just for commissions. That honesty has resonated, especially with younger users who value independence and clarity. And the fact that I came from the industry actually helps, we're not outsiders trying to tear it down. We're insiders building a better way forward.
Resources:
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