Business and Economy
Pru Life UK offers group insurance sale via mobile app
“Pulse is actually offering us a new way of approaching customers on a group basis and also servicing them during their lifetime, or during the period they are policy holders with us,” he said. (File photo: Pru Life UK – Official/Facebook)
MANILA – Small and medium enterprises (SMEs) received a boost in protecting their business and personnel through digital solution, Pru Life UK’s Business@Pulse.
In a virtual briefing Wednesday, Pru Life UK president and chief executive officer Antonio De Rosas said SMEs can now buy group insurance through the company’s mobile app Pulse, a new trend in the insurance industry.
“Pulse is actually offering us a new way of approaching customers on a group basis and also servicing them during their lifetime, or during the period they are policy holders with us,” he said.
Pulse was launched by Prudential for its Asian businesses in the second half of 2019 initially as an all-in-one health management mobile app.
The latest addition to the services it offers includes a feature wherein SME owners can submit and view their company’ information and employment data.
Pru Life UK vice president for enterprise business Marlette Jaranilla said it will lessen the need for their agents to generate a proposal to the business owner.
SME owners can also check on the app policies and coverage of their employees anytime and to check for latest Pru Life UK products and services.
Jaranilla said SME employees who have been given insurance coverage by their employees would be able to check over the app their benefits as well as submit and make insurance claims.
De Rosas is optimistic for the app’s contribution to sales since “right now, our business outlook has been very good despite the pandemic” with the help of their virtual tools.
He said the company’s virtual tools have not been integrated into the Pulse but once these are integrated into the mobile app’s system and accessed by Pru Life UK agents, “that will continue the momentum that we’re having.”
De Rosas said more than 55 percent of Pru Life UK submissions for sales, among others, are now done virtually.
He said Pru Life UK agents can now engage with customers virtually through Pulse but when the functionality that will allow them to show illustrations and proposals, among others, will be provided then “everything will be one stop shop.”
De Rosas said they aim to fully integrate agent functionality into Pulse within one to one-and-a-half years to further improve sales and services.
He said the company currently sells through PruShoppe, www.prushoppe.com, simple protection products without the need for agents’ intervention.
However, de Rosas said if a person wants to invest in unit investment trust funds (UITFs) with critical illness riders, then he needs to talk to an insurance agent.
“Right now, that is somewhat within Pulse but mostly outside of Pulse, through the use of a virtual selling tool. That virtual selling tool will be integrated into Pulse in the next year and a half,” he added.
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