Prudential plc, a leading international financial services group, has unveiled the Prudential AI Lab in Singapore.
The launch of the AI Lab is aimed at accelerating the adoption of AI, generative AI, and machine learning across Prudential’s extensive operations.
This initiative underscores Prudential’s commitment to improving customer experience, enhancing access to healthcare, and driving operational efficiency.
Known for its wide range of insurance and investment products, Prudential operates in 24 markets across Asia and Africa, serving millions of customers with innovative financial solutions.
Prudential focuses on providing life insurance, health insurance, and asset management services. With a heritage of over 170 years, the company is recognised for its dedication to customer-centric innovation and financial inclusivity.
The Prudential AI Lab is designed to create AI-powered solutions targeting key areas such as predictive analytics, hyper-personalised customer engagement, and real-time agent guidance.
These advancements aim to deliver tailored experiences to customers while empowering Prudential’s agents and financial representatives with cutting-edge tools.
The lab is supported by Singapore’s Ministry of Digital Development and Information, Economic Development Board, and Monetary Authority of Singapore.
Prudential has also partnered with Google Cloud to access advanced AI tools and technical support. Additionally, the lab collaborates with local universities and polytechnics to cultivate future AI talent, ensuring a pipeline of skilled professionals in the field.
Since its soft launch in August 2024, the lab has seen active participation from Prudential employees, with over 100 AI use cases submitted for consideration. This highlights the company’s culture of innovation and its employees’ role in shaping its technological advancements.
Prudential CEO Anil Wadhwani said, “Data, advanced analytics and AI are crucial to the delivery of our strategic priorities. The AI Lab will supercharge the development of exciting applications such as predictive analytics, hyper-personalised customer engagement, and real-time guidance for agents. I believe we are just beginning to explore the vast possibilities and value this technology offers. Prudential’s AI Lab will significantly enhance our ability to deliver exceptional experiences for our customers, agents and financial representatives, across all markets.”
Copyright © 2024 InsurTech Analyst
