Prudential and Babylon Join Forces to Pioneer AI-Powered Digital Health Services in Asia

August 02, 2018 - 05:14
Prudential and Babylon Join Forces to Pioneer AI-Powered Digital Health Services in Asia

Providing Accessible and Affordable Healthcare across Asia  



HONG KONG, CHINA / LONDON, UK - Media OutReach - 2 August 2018 - Prudential Corporation Asia ("Prudential")(2378.HK) today announced it has entered into an exclusive partnershipagreement with UK-based healthcare technology and services company BabylonHealth ("Babylon")[1]. Babylon's artificialintelligence ("AI") expertise will be made available to existing and newcustomers of Prudential across Asia marking a step change in Prudential'scommitment to provide digital health services making healthcare affordable andaccessible across Asia.

 

Prudential is a leading provider ofmedical insurance in Asia, with over five million health customers and premiumincome exceeding £800 million in 2017. Based in the UK,Babylon offers a world-leading suite of AI-powered health services, includingpersonal health assessment and treatment information, empowering users toproactively manage their health. Through the deploymentof cutting-edge AI technology, the Prudential-Babylon proposition will offer customersin up to 12 markets in Asia 24/7 access to a comprehensive set of digital healthtools, complementing Prudential's existing suite of world-class protectionproducts.

 

Nic Nicandrou, Chief Executive ofPrudential Corporation Asia, said: "At Prudential, we strive to help customerslead healthier and more secure lives. The strategic partnership with Babylon isconsistent with our ambition to address the unmet healthcare needs in Asia wherethe majority of the population are uninsured or underinsured, alongside anageing population and escalating medical costs. This partnership acceleratesour efforts to provide customer-centric, cost efficient and scalable health andwellness digital services to customers in the region."

 

"We are significantly expanding our rolefrom protection to encompass the prevention and postponement of adverse healthevents.  By empowering customers withself-help tools and real-time health information, we believe theBabylon-enabled platform will inspire them to take an active role in understandingand managing their current and future healthneeds. Prudential remains committed to help both consumers and governments findefficient solutions to expand access to quality healthcare across Asia."  

 

Dr Ali Parsa, Babylon's Founder &CEO, said: "Prudential is one ofAsia's leading insurance providers, where its brand is synonymous withtrust. We find it humbling that after a lengthy search, Prudential's forward-lookingleadership has put its trust in Babylon as its partner.  Both organisations sharethe same mission, which is to make healthcare accessible and affordable toeveryone on Earth. We look forward to working with one of the mostinnovative leadership teams in insurance, as they work to build on their stronglegacy in Asia and continue in their contribution of enhancing the well-beingof its people."

 

Market-specificdetails and launch dates for Prudential's Babylon-enabled health services willbe announced later in the year.

 

ABOUT PRUDENTIAL CORPORATION ASIA

 

PrudentialCorporation Asia is a business unit of Prudential plc (United Kingdom),comprising its life insurance operations in Asia, and its asset managementbusiness, Eastspring Investments. It is headquartered in Hong Kong.

 

Prudentialis a leading life insurer that spans 12 markets in Asia, covering Cambodia,China, Hong Kong, India, Indonesia, Laos, Malaysia, the Philippines, Singapore,Taiwan, Thailand and Vietnam. Prudential has a robust multi-channeldistribution platform providing a comprehensive range of savings, investmentand protection products to meet the diverse needs of Asian families.

 

EastspringInvestments manages investments across Asia on behalf of a wide range of retailand institutional investors. It is one of the region's largest asset managers,with a presence in 10 major Asian markets plus distribution offices in the USand Europe. It has £139 billion (c. US$188 billion) in assets under management(as at 31 December 2017), managing funds across a range of asset classesincluding equities and fixed income.

 

For moreinformation, please visit:  www.prudentialcorporation-asia.com

 

ABOUT PRUDENTIAL PLC

 

Prudentialplc is incorporated in England and Wales, and its affiliated companiesconstitute one of the world's leading financial services groups. It providesinsurance and financial services through its subsidiaries and affiliatesthroughout the world. It has been in existence for 170 years and has £669billion in assets under management (as at 31 December 2017). Prudential plc isnot affiliated in any manner with Prudential Financial, Inc, a company whoseprincipal place of business is in the United States of America.

 

Prudentialplc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK),Singapore (K6S.SG) and New York (PUK.N).

 

ABOUT BABYLON HEALTH

 

Babylon'smission is to put an accessible and affordable health service in the hands of everyperson on earth. Babylon uses a combination of cutting-edge AI technology andthe best available medical expertise to deliver 24-hours-a-day, 7-days-a-weekaccess to digital health tools (including health assessment, triage and healthtools), with over 3 million members across Europe, North America, Asia, theMiddle East and Africa, as well as video doctor consultations.

 

Formore information, please visit: www.babylonhealth.com



[1] Exclusivityis in respect of up to 12 health, life and pension markets in Asia.


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