- Investment in people, technology and the community underscores commitment to Singapore
- First-of-its-kind insurance workplace blending creativity, collaboration and wellness
SINGAPORE, 7 November 2017 – Prudential Singapore’s (Prudential) 1,000 employees today celebrated the opening of their new corporate office, PRU Workplayce (Workplayce), that is designed to inspire innovation and build a creative work culture to support the company’s future growth.
Celebrating the occasion with Prudential was Guest-of-Honour Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Mr. Tharman Shanmugaratnam.
Mr. Wilf Blackburn, Chief Executive Officer of Prudential Singapore, said the new Singapore office marks an important milestone in the company’s ongoing journey to become even more agile and customer-focused.
“As part of our digital roadmap, we’ve planted the seeds of innovation across Prudential and have nurtured its growth with significant investments in technology and people. We want to groom a future-ready workforce that is able to help our customers meet their life goals and make insurance simpler and more accessible,” said Mr. Blackburn.
Over the past year, Prudential spent approximately S$70 million (£40 million) in technology in Singapore, an important market and innovation testbed for the Prudential Group. The company’s workforce has grown by more than 15 per cent over the same period as it builds its bench strength to meet the fast-evolving needs of its nearly one million customers in Singapore.
Prudential has been building new digital capabilities to enable employees and its more than 4,500 Financial Consultants to work smarter and to serve customers better. This includes industry-first solutions such as the PRUONE Express digital sales tool and the askPRU chatbot. Prudential is also collaborating with fintech startups on new customer solutions through its PRU Fintegrate Partnership programme.
Within Prudential, self-initiative and creativity are encouraged through the company’s employee innovation platform and aided by internal mobility initiatives and training. Employees spent an average of three days each this year on improving leadership skills, strategic thinking, design thinking and technical capabilities.
A workplace blending creativity, collaboration and wellness
Prudential’s Workplayce is the first of its kind in the local insurance industry. Inspired by Albert Einstein’s philosophy that play is the highest form of research, it integrates work and play at the office.
Workplayce engages employees with activity-based working options and areas for experimentation and exploration of ideas. It also includes social spaces for greater collaboration and connection among colleagues as well as nature-inspired nooks and rest-pods for employees to recharge.
The new Workplayce supports Prudential’s outcome-based work culture which means employees have the flexibility and autonomy to work from anywhere and at any time.
“Just as we are challenging our people to make a mental shift to a more creative and collaborative culture, our physical workspace and work policies must equally support our journey,” said Mr. Blackburn.
“It is about breaking down the walls of hierarchy, making our Workplayce a space that offers an equal voice to all employees and empowering people to undertake greater ownership of their work,” he added.
Celebrating with the community
To commemorate the opening of Workplayce, Prudential has pledged S$2 million to its long-time community partner, The Boys’ Brigade. The funds will be disbursed over 10 years and go towards providing healthy food hampers to beneficiaries. More than 8,000 beneficiaries will receive these hampers each year under the Share-A-Gift Programme. Prudential volunteers have also pledged their time to help with the packing and delivery of food hampers to beneficiaries’ homes.
Notes to Editor
For more about Prudential’s latest innovation initiatives:
About Prudential Singapore
Prudential Singapore, an indirect wholly-owned subsidiary of UK-based Prudential plc, is one of the top life insurance companies in Singapore. We have been serving the financial and protection needs of Singaporeans for 86 years. Our focus is to bring well rounded financial solutions to customers through our multi-channel distribution network, with product offerings in Protection, Savings and Investment. We are one of the market leaders in Protection, Savings and Investment-linked plans with S$29.4 billion funds under management as at 30 June 2016. In 2014, we were awarded an AA Financial Strength Rating by leading credit rating agency Standard & Poor’s.
For the last 11 consecutive years, we have been awarded the Gold Award in Reader’s Digest Trusted Brands. Since 2007, we have been conferred the People Developer Award by SPRING Singapore for our efforts in training and developing employees and in 2013 and 2014, we were presented with Asia’s Employer of the Year Brand Award by the Branding Institute and the World HRD Congress. Prudential Singapore was also awarded the NTUC Plaque of Commendation (Gold) Award in 2014, and the Singapore Human Resource Institute presented the company with the Leading HR Practices in Quality Work-Life, Physical & Mental Well-Being Award in 2014 and the Leading HR Practices in Lifelong Learning Award in 2015.