Prudential Vietnam recognized as “International Life Insurer of the Year“

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Prudential Vietnam Assurance Private Ltd. (Prudential) has been awarded the International Life Insurer of the Year in Vietnam and honored in the New Insurance Product of the Year category for the third and second consecutive year respectively at Insurance Asia Awards 2021. 
Prudential Vietnam recognized as 'International Life Insurer of the Year' ảnh 1
Insurance Asia Awards is an annual event honoring insurance companies in Asia for outstanding achievements and innovative initiatives that bring value to customers and valuable contribution to the development of the insurance market. The Insurance Asia Awards jury is comprised of leading insurance industry experts from reputable, independent financial and auditing organizations including Milliman, Deloitte, PwC, and Ernst & Young.

Mr. Phuong Tien Minh, Chief Executive Officer of Prudential Vietnam, said: “Prudential's strategy is built on customer centricity. We are honored that our efforts in business activities and investments in community development in the past year continue to bring meaningful value to customers. The recognition of the Insurance Asia Awards this year is a milestone marking the success of Prudential in Vietnam as well as the region, moving forward for a healthy and prosperous Vietnamese community.” 
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The insurer was also honored in the category of New Insurance Product of the Year for its medical solution PRU Health+.

The judging panel of the Insurance Asia Awards 2021 said: “PRU-Health+ is a unique, market-changing insurance product that champions convenience without compromising coverage. Prudential also continues to be the role model of Viet insurers, championing innovation whilst also raising its performance amidst negative impacts brought about by the Covid-19 pandemic. For their admirable dedication to innovation in meeting customers’ needs, and their amazing strong performance at the face of a crisis, Prudential Vietnam is deservedly taking home the awards this year.” 

In 2020, Prudential provided financial protection for over 1.6 million Vietnamese people and paid more than VND6,765 billion of insurance benefits, accounting for nearly 30 percent of the total payments of the whole industry. It is continuously expanding its product portfolio such as the recent launch of PRU Health+ - a product that helps customers reduce their financial burden when they or their families have health care needs, with diverse treatment benefits at affiliated hospitals and clinics in Vietnam and Southeast Asia. As of June 2021, just one year after its launch, more than 100,000 PRU-Health+ policies have been issued, with nearly 6,000 customers having access to healthcare benefits from the product.
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In its commitment to enhance the customer experience, the company is in the midst of digitalizing its end-to-end operational process, where presently, close to 100 percent of insurance applications and more than 70 percent of claims are submitted online. This has brought convenience and ensure the customer experience is safe and thorough, especially during the pandemic.

Prudential is also actively leveraging on technology to make healthcare more affordable and accessible through its Pulse by Prudential app - an all-in-one digital health app and the first-of-its-kind to offer holistic health management in Asia. More recently, in the face of the complicated developments of the fourth Covid-19 wave in Vietnam, the company also launched eDoctor, an online medical examination service that helps customers connect with doctors remotely while still ensuring safety and convenience. Besides business activities, Prudential also continuously invests in meaningful community development activities, contributing more than VND205 billion from 2011 to 2020.

Prudential Vietnam is a subsidiary of Prudential plc, an Asia-led portfolio of businesses focused on structural growth markets. It has operated in Vietnam for over 20 years and is focused on expanding the life insurance market and changing people’s perception of insurance. As of December 31, 2020, Prudential Vietnam had over 223,000 financial consultants, over 350 offices, as well as a nationwide network of partnerships with eight reputable bank partners to serve over 1.6 million customers. Prudential Vietnam is also a pioneer in applying modern technology to simplify their processes and enhance the customer experience, as well as support the community on their health journey in Vietnam. 

With a new brand commitment “Listening. Understanding. Delivering.”, Prudential reaffirms its commitment to always putting customers first, delivering innovative and comprehensive solutions to support their evolving needs for a healthier and wealthier life, while making engagement easier for today’s digital-savvy customers.

Thanh Nha

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