Revisiting our digital tools

In today’s tech-driven world, innovation is key to business success. It’s critical to growth, and research shows that 84 per cent of executives consider innovation an important part of their company’s growth strategy.

Organisations across the globe are using technology to make things better, move faster, and go further.

Prudential, too, is embracing this innovation wave and creating digital tools of our own. Designed to benefit both customers and our distributors, they make the buying and selling process as easy as possible.

askPRU: Policy questions answered instantly

Launched in 2017, askPRU is Prudential’s AI-powered chatbot created to provide financial consultants with real-time information about their clients’ policies.

Built using IBM Watson technology and integrated with Prudential’s back-end systems, askPRU instantly retrieves needed data — such as policy cash value, policy premium due date, and status of submitted claims, among others — to answer a financial consultant’s queries. The chatbot also understands non-scripted questions, can mimic human conversations, and can determine the intent behind queries to improve its responses.

Available as a mobile app and operating 24/7, askPRU provides fast, reliable, and consistent access to customer data. More than 90% of our financial consultants leverage askPRU, to answer customer inquiries quickly and improve the customer service experience.

PRUONE Express: Enhancing the purchasing process

To facilitate a quicker sales process, financial consultants leverage PRUONE Express, a digital point-of-sales portal. This portal generates a detailed quotation within three seconds and accepts digital submissions of new policy requests.

PRUONE Express uses the latest technologies, including smart data capture and fingerprint authentication.

Smart data capture does away with manual data entry and improves the accuracy of data — it digitises paper-based processes, extracts text from scanned documents and converts them into a machine-readable format.

Fingerprint authentication on the other hand, is implemented for added security, preventing document fraud and identity theft.

PRUONE Express is available for Prudential’s distributors, making the consultation process more effective and allowing them to engage with customers more efficiently.

PRUForce: Managing sales and leads better

A complete sales and lead management tool, PRUForce serves as a single source for new leads and opportunities. The platform is accessible on multiple devices and allows for seamless integration with PRUONE Express.

PRUForce provides real-time access to client details such as policies, last contact, proposals, and more, arming financial consultants with essential information before making an appointment or following up. They also receive reports that give them a better understanding of leads and how to prioritise activities. Agency leaders can even view sales activities dashboards that help with forecasting and offering guidance and support to their teams.

With PRUForce, financial consultants can better manage their sales and leads so they can spend more time advising clients.

Prudential’s digital solutions leverage the power of technology and open up innovative possibilities for the insurance industry. With these tools, we’re forging ahead and paving the way for a digital future.

Instant underwriting: Making decisions in seconds

Instant underwriting offers on-the-spot decisions for customers’ policy applications. Customers fill out the health declaration form as usual, then the smart underwriting engine decides whether to instantly accept an application or request for further review.

Within seconds, financial consultants can notify their clients of the outcome of their application. If a customer’s application has been accepted for cover, they can receive an electronic copy of their policy contract within two hours, instead of the current turnaround time of two days.

For financial consultants, the benefits are twofold: it cuts down on paperwork and reduces the need to go back to clients with additional medical questions. This increases efficiency and allows financial consultants to focus on more meaningful client needs.

For customers, instant underwriting offers a seamless experience for claims, providing quicker insurance coverage at the time of sale rather than post-sale.

The digital underwriting solution is currently available for Prudential’s PRUTriple Protect, a critical illness plan that provides protection against multiple illnesses.

The information in this article does not necessarily reflect the views of Prudential Assurance Company Singapore Pte. Ltd. Certain information in this article may be taken from external sources, which we consider reliable. We do not represent that this information is accurate or complete and should not be relied upon as such.

This article is for your information only and does not consider your specific investment objectives, financial situation or needs. We recommend that you seek advice from a Prudential Singapore Financial Consultant before making a commitment to purchase a policy.