Prudential Vietnam wins International Life Insurer of the Year at Insurance Asia Awards 2021

Monday, Aug 16, 2021 13:14

Prudential Vietnam wins two awards at the Insurance Asia Awards 2021. — Photo courtesy of the company

Prudential Vietnam Assurance Private Ltd. has won the International Life Insurer of the Year – Vietnam and New Insurance Product of the Year – Vietnam awards at the Insurance Asia Awards 2021.

The insurer won the awards for the third and second consecutive year, respectively.

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 contributions to the development of the insurance market. The jury included independent experts from prestigious financial and auditing organisations such as Milliman, Deloitte, PwC, and Ernst & Young.

Phuong Tien Minh, chief executive officer of Prudential Vietnam, said: “Prudential's strategy is customer-centric. We are honoured 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 Viet Nam as well as the region, moving forward for a healthy and prosperous Vietnamese community.”

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 Vietnam 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 VND6.76 trillion (US$291.8 million) of insurance benefits, accounting for nearly 30 per cent of the industry’s total payments.

It continuously expands 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 healthcare needs, with diverse treatment benefits at affiliated hospitals and clinics in Viet Nam and Southeast Asia.

As of June 2021, just one year after its launch, more than 100,000 PRU-Health+ policies had been issued, with nearly 6,000 customers having access to healthcare benefits from the product.

The company is in the midst of digitalising its end-to-end operational process to improve the customer experience, and currently close to 100 per cent of insurance applications and more than 70 per cent of claims are submitted online.

It is also actively leveraging 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.

Amid the fourth COVID-19 wave in Viet Nam, it 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 invests in meaningful community development activities, contributing more than VND205 billion ($8.96 million) from 2011 to 2020. — VNS

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