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Prudential to work with tech firms for financial, healthcare solutions

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Insurer Prudential is teaming up with three technology companies in Singapore to develop financial and healthcare solutions as it steps up its innovation drive.

The company is working with artificial intelligence company Knowtions Research to devise tailored preventive healthcare programmes.

It is also building a digital platform with Ailleron so financial consultants can conduct virtual presentations, share documents and sign on customers electronically.

DataRobot will employ automated machine learning and augmented data science to help improve Prudential products and make it easier for customers to buy them, the insurer said last week.

Ms Kalai Natarajan, strategic engagements head at Prudential Singapore, told a briefing in London that the new solutions could be rolled out across its 12 life insurance markets in Asia, potentially reaching 15 million customers.

"Singapore is a key innovation test bed... because of the country's strong digital infrastructure and conducive business environment," she added.

The three solutions were chosen from 30 applicants which took part in last year's PRU Fintegrate, an annual initiative that started in 2017 to employ technology to improve its business.

The insurer will invest in the winning companies' proofs-of- concept, run pilot projects and come up with implementation plans.

Prudential Singapore chief executive Wilf Blackburn said the latest tech solutions are being developed to "prevent and postpone the progression of chronic diseases" for its customers".

He added: "Our customers are living longer but not all of those extra years are necessarily spent in good health. This is why we want to work with tech partners to develop healthcare solutions." - THE STRAITS TIMES