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Trade veteran Bernard Chai is CEO of recent monetary advisory agency which affords life insurance coverage, basic insurance coverage and wealth administration options
Dennis Tan, CEO of Prudential Singapore (2nd from left), Bernard Chai, CEO of Prudential Monetary Advisers (2nd from proper), Ben Tan, Chief Distribution Officer & Chief Company Improvement Officer, Prudential Singapore (1st from proper), and Jackie Chew, Chief Danger Officer, Prudential Singapore (1st from left), celebrating the official launch of Prudential Monetary Advisers.
SINGAPORE – Media OutReach – 20 April 2023 – Life insurer Prudential Singapore (“Prudential”) at this time introduced the official launch of Prudential Monetary Advisers (“PFA”), its monetary advisory arm. With PFA, Prudential now affords a wider vary of insurance coverage merchandise together with basic insurance coverage and wealth options. That is along with Prudential’s core options in complete and time period life, well being, financial savings, retirement and group insurance coverage.
The brand new monetary advisory agency will complement Prudential’s current distribution ecosystem. Prospects can have entry to a broad vary of services together with basic insurance coverage equivalent to journey insurance coverage and motor insurance coverage and wealth options equivalent to unit trusts. They will additionally faucet on the complementary options and auxiliary providers together with property planning, household workplace and tax advisory, supplied by PFA’s companions.
Mr Dennis Tan, CEO of Prudential Singapore, mentioned the monetary advisory enterprise goals to raised assist Singapore residents who’re residing longer because the nation’s life expectancy continues to rise.
“We’re excited to launch Prudential Monetary Advisers because it provides to the breadth and depth of our choices to handle individuals’s enhanced wants for monetary safety and healthcare at each stage of their life. The brand new entity will even strengthen our distribution community as we proceed to develop our company of greater than 5,000 monetary consultants, to serve the wants of all people.”
PFA might be led by Mr Bernard Chai, an business veteran of greater than 40 years. In virtually 20 years with Prudential, he has held key roles equivalent to Head of Commonplace Chartered Financial institution (SCB) Partnership, Director of Partnerships Improvement, and Head of Enterprise Improvement. He was most lately Prudential’s Head of Company Transformation earlier than being appointed the CEO of PFA.
Mr Bernard Chai, CEO of Prudential Monetary Advisers, shared that the monetary advisory channel has seen regular progress in the previous couple of years.
“Prospects at this time expect extra one-stop options to fulfill their wants for all-of-life, particularly on the again of rising life expectancy, and Prudential Monetary Advisers is well-placed to fulfill this want. We convey the very best of each worlds to our prospects – Prudential’s life insurance coverage choices in addition to basic insurance coverage and wealth administration options from our companions. On this manner, we assist them to handle their healthcare wants, in addition to to guard and develop their wealth, in order that they’ll higher plan for his or her retirement.”
With the addition of PFA, Prudential’s distribution ecosystem contains:
- Monetary advisory agency: This new channel will supply a spread of insurance coverage and wealth options to prospects at numerous levels of their monetary planning journey.
- Tied company: We’ve one of many largest tied company networks in Singapore with greater than 5,000 monetary consultants who distribute our safety, financial savings and funding merchandise.
- Bancassurance: Our unique bancassurance companions are United Abroad Financial institution (UOB) and Commonplace Chartered Financial institution (SCB), and we work intently with them to develop and ship revolutionary insurance coverage options to prospects.
- Digital channels: We additionally supply PRUShield and microinsurance plans on Pulse by Prudential[1], our digital well being and wellness app. Examples of microinsurance plans embrace: PRUSafe BreastCancer, PRUSafe Prostate Most cancers, PRUSafe Dengue, PRUSafe COVIDCover, and PRUSafe Guard 22.[2]
Hashtag: #PrudentialSingapore
The issuer is solely chargeable for the content material of this announcement.
About Prudential Assurance Firm Singapore (Pte) Ltd (Prudential Singapore)
Prudential Assurance Firm Singapore (Pte) Ltd is without doubt one of the prime life insurance coverage firms in Singapore, serving the monetary and safety wants of the nation’s residents for 92 years. The corporate has an AA- Monetary Power Score from main credit standing company Commonplace & Poor’s, with S$49.4 billion funds below administration as at 31 December 2022. It delivers a collection of well-rounded product choices in Safety, Financial savings and Funding by means of a number of distribution channels together with a community of greater than 5,000 monetary consultants.
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