Leading life insurer Pru Life UK and JG Summit’s financial services arm Robinsons Bank today announced the renewal of their strategic bancassurance partnership at a virtual signing ceremony.
The renewed agreement extends Pru Life UK’s and Robinson Bank’s distribution partnership for another three years effective February 1, 2021, ensuring Filipinos’ easy access to protection through affordable life insurance products. The two parties formalized their original three-year partnership in January 2018, signaling the start of Pru Life UK officially distributing its life insurance products exclusively through Robinsons Bank’s 154 branches across the country.
Through its bancassurance venture IPONsurance, Robinsons Bank is able to leverage its extensive network to offer its customers Pru Life UK's life insurance products that will provide Filipinos with better and more affordable choices toward a financially secure future.
Demand for life insurance products has been rising in the Philippines amid the health concerns of the pandemic and buoyed by growing awareness of the importance of protection, on the back of an expanding middle class and a low insurance penetration rate.
Antonio G. De Rosas, Pru Life UK President and CEO, said, “We are very pleased to jumpstart 2021 by renewing our bancassurance partnership with Robinsons Bank. For another three years, this alliance will benefit Robinson Bank’s customers by providing them with easy access to Pru Life UK’s solutions that meet their growing protection needs. We look forward to fostering a stronger relationship with Robinsons Bank as we continue to fulfil our purpose of helping Filipinos get the most out of life through our life insurance products and solutions.”
Elfren Antonio S. Sarte, Robinsons Bank President and CEO said, “Robinsons Bank and Pru Life UK’s shared vision for its customers has led to a very fruitful partnership. Our IPONsurance product has allowed more Filipinos to get the financial security and stability they need while enjoying financial services that were once difficult to attain. We are very grateful that through this partnership, we can continue to empower our kababayans to take hold of their brighter future.”
About Robinson’s Bank
Robinsons Bank is the financial services arm of the JG Summit Group of Companies, one of the largest conglomerates in the Philippines. It currently ranks 18th among universal and commercial banks in the country, with assets amounting to Php 131.088 Bn as of December 2019. The Bank is recognized as the Fastest Growing Commercial Bank in the Philippines for 2020 by the Global Business Outlook; the Fastest Growing Retail Bank in the Philippines for 2020 by the Global Banking and Finance; and the Best Commercial Bank in the Philippines for 2020 by the International Business Magazine.
Pulse is an all-in-one digital health app and the first of its kind in the region to offer holistic health management to consumers. Using AI-powered self-help tools and real-time information, the app serves as a 24/7 health and wellness partner to users, helping them prevent, postpone, and protect against the onset of diseases. Pulse is part of Prudential’s region-wide strategy to provide affordable and accessible healthcare to everyone across Asia by leveraging digital technologies and best-in-class partnerships.
Following the regional launch of Pulse in Malaysia in August 2019, Pulse is now available in a total of 11 markets in Asia and includes a growing suite of value-add services, such as a symptom checker and health assessment, personal wellness services, and video consultations with certified doctors and specialists.
Since its launch, Pulse has been downloaded more than 17 million times* in Asia. Pulse is currently available on the Apple/Google Play stores in Cambodia, Hong Kong, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand, and Vietnam.
For more information, and to download Pulse, log onto www.wedopulse.com
*As of 25 January 2021