Inculcating financial literacy: Cha-Ching by Prudence Foundation is an award-winning financial literacy programme that instils sound financial habits in children by introducing them to fundamental money management concepts such as Earn, Save, Spend and Donate.
Prudential sharpens its focus on providing better, faster access to quality healthcare
IN 1924, Prudential plc – founded in London in 1848 – opened a branch in Malaya.
For 100 years, Prudential helped more than seven million customers in Malaysia pursue their dreams and passions by prioritising what matters most to them.
Now celebrating its centenary anniversary, Prudential Assurance Malaysia Berhad (PAMB) continues to thrive and expand with its parent company, which provides life and health insurance and asset management to 18 million customers across 24 markets in Asia and Africa.
Prudential’s purpose statement – “For Every Life, For Every Future” – captures its customer-first ethos, and commitment to delivering simple and accessible financial and health solutions for every generation.
Empowering: In the Youth Financial Education programme, PAMB organises engagements at universities on money management using a board game specially designed to simulate real life scenarios.
Customers at its core
As one of the largest health insurers in Asia, Prudential has always been driven by the opportunity to make a difference to the lives of its customers.
However, its new strategy, announced in August last year, includes a more focused approach to health.
Prudential plc’s strategic business group managing director Solmaz Altin, explained that Prudential is ambitious to play a bigger role in helping customers access affordable, quality healthcare.
“Transforming our health business allows us to deliver on our purpose in a very powerful way, and our ambition is to become the most trusted health partner across Asia and Africa,” he said, adding that its top four health markets – Malaysia, Hong Kong, Indonesia and Singapore – account for over 90% of its health insurance portfolio.
Altin emphasised the importance of strengthening its network of trusted health providers while ensuring the company delivers a frictionless, personalised customer experience at each stage of their healthcare journey – from diagnosis to admission and recovery.
Prudential, he said, is also developing new services for its customers that go beyond reactive care, incorporating proactive measures to improve health outcomes.
“For example, before someone gets ill, we want to encourage customers to develop healthy habits for illness prevention and help them detect health issues early.
We work with a wide eco-system of partners that include health screening centres, wellness centres and predictive health-tech providers.”
Altin: Prudential is ambitious to play a bigger role in helping customers access affordable, quality healthcare.
Health is wealth
Malaysia, as Altin pointed out, is a priority market for health. In 2023 alone, Prudential Malaysia paid out RM3bil in claims, with medical forming the highest payout at RM2.6bil.
PAMB’s chief executive officer, Lim Eng Seong, emphasised that the company remains committed to investing and innovating the enhancement of its medical plans.
This commitment, he said, is designed to cater to the evolving needs of Malaysians, especially amidst the challenges posed by rising non-communicable diseases and medical inflation.
“We believe health is wealth, and prevention is the best cure. Hence we are focused on motivating and rewarding our customers to prioritise their health.”
Customers can utilise their no claim bonus of up to RM1,000 from the Health Marketplace on PRUServices, which offers over 1,000 different healthcare needs such as diagnostic tests, screening, vaccination and health programmes.
PAMB has also proudly partnered with a third-party service provider to offer Second Medical Opinion services (SMO).
This complimentary, value-added service is provided to all policyholders, empowering them with a better understanding of their medical conditions and enabling them to make informed and confident decisions about their treatment plans.
Apart from this, the recently launched PRUMillion Med Active is an innovative product that puts customers in control of their cost of medical insurance.
It rewards them upfront with the ability to pay less on medical insurance charges when no claims are made.
With Active Booster, customers can enjoy unlimited hospitalisation days and up to one-year post-hospitalisation treatment.
PAMB has also introduced PRUMillion Med 2.0 which features no lifetime limit and offers extensive coverage for pre-, during, and post-hospitalisation.
It also features precision medicine for accurate cancer diagnosis based on genetic profiles, as well as coverage for cancer treatment for up to a year following hospitalisation.
“For Prudential, it’s about making sure our solutions remain the best that we can offer to our customers so we can fulfil their needs and deliver on our commitment,” he said.
For Malaysians: Lim emphasised that the company is committed to investing and innovating the enhancement of its medical plans.
Leading with purpose
Adding to PAMB’s legacy in Malaysia is its top-ranking position for Net Promoter Score, reflecting exceptional customer satisfaction and their recommendation.
This success is rooted in its long standing commitment to understanding people’s needs and nurturing strong bonds with customers, agents and partners.
Even after a century-long presence in Malaysia, Prudential is more dedicated than ever to ensuring long-term security and making a profound positive impact on the social and economic fabric of the community.
For decades, it has been at the forefront of initiatives that address issues that affect everyday Malaysians.
Financial literacy programmes such as Cha-Ching, Duit Right, and Youth Financial Education, were launched to empower communities – including young Malaysians, with the knowledge and confidence to make informed financial decisions.
To date, its efforts have reached 243,000 students, enhancing their understanding of financial management.
PAMB’s flagship corporate social responsibility (CSR) programme, PRUKasih Aman, is a micro-insurance solution designed to provide protection to segments of the population often overlooked by traditional insurance options, safeguarding over 10,000 Malaysians.
During the height of the Covid-19 pandemic, PAMB became the first insurer in the country to offer Covid-19 goodwill coverage to its customers.
In addition to that, it has also enhanced its solutions to ensure it remains best-in-class.
This includes gender-specific critical illness plans, PRUMan and PRULady, which offer milestone benefits.
With PAMB’s continuous innovative efforts, Malaysians can confidently expect the insurer to continue delivering peace of mind to its valued customers.
Building for the future
As Prudential keeps advancing and broadening its services, its commitment remains rooted in serving customers and communities.
By integrating technology, forming partnerships and prioritising preventive care, Prudential isn’t merely addressing current customer needs but also preparing for future health challenges.
This forward-looking approach ensures Prudential remains a trusted partner in health and financial security, making a meaningful difference in millions of lives.
Whether through advanced medical plans or pioneering health initiatives in Malaysia, Prudential remains dedicated to building a healthier, more secure future for everyone.
PRUMillion Med Active, PRUMillion Med 2.0, PRUMan and PRULady are protected by PIDM on benefits payable from the unit portion of this policy, which is subject to limitations.
While PRUKasih Aman’s benefits are payable under eligible certificate or policy and are protected by PIDM up to limits.
Refer to PIDM’s TIPS Brochure or contact PAMB or visit www.pidm.gov.my.
