Prudential Cambodia celebrates 10 years of strong results, setting new standards
Prudential Cambodia celebrates 10 years of strong results, setting new standards
Prudential Cambodia – one of the largest life and health insurers in the Kingdom – is celebrating the 10th anniversary since its establishment in 2013.
Over the past decade, the company has delivered strong results in financial protection, digital innovation and corporate social responsibility, making a significant impact on thousands of Cambodian families.
To date, Prudential Cambodia has approved more than $18 million in claims, serving over 321,000 customers with more than $250 million in assets under management, the largest in the market.
To address common barriers to insurance purchase in Cambodia, such as cost and convenience of purchase, Prudential has set new standards for the industry by offering simple and affordable digital insurance products.
Embracing multi-channel distribution strategy for better customer experience
The company’s flagship artificial intelligence-powered health and wealth management mobile app, “Pulse”, enables customers to purchase most life insurance policies within five minutes at the point of sale.
Pulse also helps assess and approve claims more quickly, providing customers with timely access to funds when they need them most.
The application has now had more than one million downloads in the Kingdom.
In addition, Prudential has introduced “PruSave”, a B2C-friendly purchasing journey for customers, helping to build financial discipline as policyholders set aside fixed amounts.
Policyholders receive a guaranteed lump sum when the policy matures and potential returns from the non-guaranteed interest, while also getting protected throughout the entire saving journey.
The company has also adopted a multi-channel approach, providing customers with multiple options to purchase its insurance products using their preferred channels.
Customers can seek advice from one of ACLEDA Bank’s 265 branches across the country, through the insurer’s consultants, directly through its app/website or via a combination of these channels.
The insurance products and services offered through the bancassurance partnership have helped to increase access to insurance in Cambodia, which is essential for the financial wellbeing and security of individuals and families.
The latest innovative solution, Prudential’s Insurance Selling Machines are like kiosks that allow customers, especially in certain areas, who may not have access to a phone or the internet to purchase insurance policies conveniently.
Prudential has created this range of digital solutions for first-time insurance buyers to conveniently access affordable protection solutions via their smartphones.
At the end of their purchases, customers can obtain receipts of their transactions from a printer connected to the Insurance Selling Machine, an important step for first-time users.
More than $7 million in CSR projects over past 10 years
Prudential Cambodia has put corporate social responsibility (CSR) and environmental and social governance initiatives at the forefront of its commitment to contributing to the development of the Cambodian community, providing more than $7 million in CSR projects, $5 million of which has been invested in the education sector.
Two of the most recent programmes are the partnership with the ACLEDA-Jardines Education Foundation, established in May 2017, which has been operating social and humanitarian activities with a focus on constructing primary school buildings in five provinces in Cambodia.
The foundation plans to build three more primary schools in 2023, the ninth, tenth and eleventh schools in Preah Vihear and Oddar Meanchey provinces, respectively.
In addition, Prudential Cambodia and the Prudence Foundation hosted a SAFE STEPS Kids Road Safety Day to help improve and raise awareness of road safety for Cambodian students.
As part of the SAFE STEPS – Road Safety programme, the event took place on September 22, 2022, at Hun Sen Trosek Koang high school in Kampot province, with around 1,000 students attending.
The Road Safety Day was co-organised with AIP Foundation, and in collaboration with the National Road Safety Committee, the Ministry of Education, Youth and Sport, and local programme partners to help students mitigate risks on the road, and provide them with safety equipment and road traffic education.
Prudential Cambodia is proud to be celebrating 10 years in the Kingdom and 175 years of history worldwide of providing life, health insurance and asset management, and it is committed to developing the financial markets and supporting key community and infrastructure projects where it operates.
