Pru Life UK named International Life Insurer of the Year for the second consecutive year
Pru Life UK bagged the International Life Insurer of the Year-Philippines recognition in the Insurance Asia Awards for the second consecutive year. The company’s innovations, new products and partnerships, including its community investment initiatives were recognized by the organization as it stood out among its peers who were nominated in the same category in the Philippines.
Insurance Asia Awards is a prestigious awards program that recognizes the most outstanding insurance companies in Asia for their remarkable innovations.
“We are truly grateful and inspired by this honor from the Insurance Asia Awards. I attribute this recognition to our employees, agency workforce and other distribution partners who tirelessly work and innovate to fulfill our purpose of helping many more Filipinos get the most out of life,” said Pru Life UK President and Chief Executive Officer Eng Teng Wong.
The award is another milestone for Pru Life UK as it leads the life insurance industry in terms of New Business Annual Premium Equivalent based on the Insurance Commission’s official ranking in 2020 and 2021.
Over the past year, the Company strengthened its efforts to promote financial inclusion through providing simple, accessible, and affordable life and health insurance products on its pioneering AI-powered app, Pulse. It also offered free COVID-19 protection with vaccine side effects coverage in the health and wealth management app Pulse in 2021.
Pru Life UK also formed strategic partnerships to expand its reach and offer insurance protection to more Filipinos in the country. With the customers’ safety and convenience in mind, the Company renewed its partnership with Robinsons Bank and partnered with CIMB Bank to develop more innovative digital financial products and services, which are even more essential amid the pandemic. It also expanded its sales agency offices in Metro Manila, and several provinces in the country.
Outside the country, a notable partnership with Prudential Cambodia allowed more than 7,000 Filipinos in Cambodia and their families to have access to PRUMySafety, a digital protection product covering customers against the risk of road accidents which is available on Pulse.
“We are further motivated to drive up financial inclusion even more across the Philippines, including Overseas Filipino Workers. As one Pru Life UK family with all our distribution partners, we continue to expand our reach and protect more lives, especially the underserved and unserved Filipinos,” said Wong.
This year, the Company has onboarded on popular ecommerce platforms GCash and Shopee and made more bite-sized protection products available on Pulse.
It also opened PRUHouse, its agile and dynamic workplace in Ortigas early in the year, to create adaptable workspaces fit to the different workstyles of its growing sales force.