Prudential to offer wellness, health and wealth solutions leveraging Indonesia’s leading mobile payment platform
and HONG KONG - Media
OutReach - 10 June 2019 - PT Prudential Life Assurance ("Prudential"), a business unit of
Prudential Corporation Asia, today announced a strategic partnership with PT
Visionet International ("OVO"), a leading digital payments, rewards and financial
services platform in Indonesia. The partnership significantly enhances Prudential's
reach in one of Asia's fastest-growing insurance markets with a digitally-savvy
Prudential and OVO will jointly develop new and
comprehensive digital propositions for customers encompassing wellness, health
and wealth products and services. Prudential and OVO customers will enjoy the
convenience of transacting online with electronic underwriting, e-payments,
e-claims and easy access to Prudential's wide hospital network, complementing the
face-to-face service from Prudential's financial consultants in 160 cities.
Prudential is the largest life insurer in Indonesia
with over two million customers, an industry-leading agency force of over 250,000
agents, more than 400 offices and access to 430 bank branches. Available in
over 115 million devices, OVO is the preferred digital payments platform for
with over 500,000 merchants and a presence in 319 cities.
This partnership is a key step in Prudential broader
commitment to make health and wealth services affordable and accessible to all
Asians. By leveraging OVO's complementary capabilities and extensive customer
reach, Prudential will accelerate the Asia launch of Pulse, its digital
platform powered by Artificial Intelligence (AI) technology. Pulse is the first
regional platform of its kind in Asia to offer holistic health management,
empowering customers to manage their health, wealth and wellbeing anytime,
Nic Nicandrou, Chief Executive of Prudential Corporation Asia, said, "Indonesia
is vital to our Asia strategy and we are excited to bring unique and beneficial
offerings to the country's growing population of digital consumers. By
combining OVO's reach and Prudential's best-in-class products and services, we
can help Indonesians to digitally manage their wellness and health, protect
what matters most, and grow their wealth."
Mr. Jens Reich, President Director of Prudential
Indonesia, said, "As a market leader in Indonesia, we remain focused on
enhancing our operations and service to customers, through both digital and face-to-face
channels. Our collaboration with OVO helps meet the fast-evolving protection
and health needs of the Indonesia market. We will continue
our efforts to support the government's vision to provide greater financial
inclusion and promote the health and wellbeing of Indonesians."
Mr. Jason Thompson, Chief Executive Officer of OVO,
said, "As Indonesia's largest
mobile payments and financial services platform, our partnership with
Prudential further underlines OVO's comprehensive suite of financial services,
from payment, lending and now accessible insurance. Bringing the first
collaboration between fintech platform and life insurer in Indonesia, we are
humbled to bring financial inclusion closer, allowing more people to enjoy
equal financial access."
Note to Editors:
Prudential is launching in Asia a
digital health app, Pulse by Prudential, that is the first of its kind in the
region to offer holistic health management to consumers. Using AI-powered
self-help tools and real-time information, the app serves as a 24/7 health and
wellness partner to users, helping them prevent, postpone, and protect against
the onset of diseases. Recently previewed in Malaysia, Pulse by Prudential
will soon be available across the region, supported by a growing suite of
regional and local service providers such as Tictrac (digital wellness services) DoctorOnCall
(online consultation in Malaysia), AIME (dengue tracker in Malaysia) and Boost
(e-wallet in Malaysia).
Recent announcements related to
the launch of the AI-enabled ecosystem:
OVO is enriching financial services capacity within
the OVO app through OVO PayLater. This new feature expands credit access to
millions of Indonesians, supporting the growing trend of retail sales growth in
Indonesia. OVO PayLater is enabled by Taralite, as part of the company's strategy
to better serve Indonesia's growing digital economy. OVO PayLater introduces
industry leading application process with one click credit facility activation,
five minutes to obtain credit approval and immediate credit disbursal. Users
can immediately fulfil their transaction needs, while managing their cash flow
on the OVO app. OVO PayLater service is accepted in 200,000 modern retail
merchants, such as Hypermart, ACE Hardware, Hoka-Hoka Bento and Bakmi GM.
insurer by total premiums AAJI data 2018
About Prudential Indonesia
PT Prudential Life Assurance
(Prudential Indonesia) was established in 1995 and is part of UK-based Prudential plc. Prudential Indonesia is a business unit of Prudential Corporation Asia, based in Hong Kong. Prudential Indonesia is committed to developing its
business in Indonesia, by combining Prudential's
international experience in life insurance with local knowledge and expertise.
Since launching its first unit-linked insurance product in 1999, Prudential Indonesia has been the market leader for these products in the country. In 2007, it established a Sharia Business Unit and has since been trusted as the leader in the sharia life insurance market in
Prudential Indonesia's head office is in Jakarta. As of December 31, 2018, it has 6 marketing offices in Bandung, Semarang, Surabaya,
Denpasar, Medan and Batam and 404 Mandiri Marketing Offices (KPM) throughout the country. At 31 December 2018 Prudential Indonesia had more than 2.1 million customers, supported by more than 250,000 agents.
For more information, please visit Prudential Indonesia's
Prudential Corporation Asia is a business unit of Prudential
plc (United Kingdom)*, comprising its life insurance operations in Asia, and
its asset management business, Eastspring Investments. It is headquartered in
Prudential is 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 an
extensive multi-channel distribution platform providing a comprehensive range
of savings, investment and protection products to meet the diverse needs of
Eastspring Investments manages investments across Asia on
behalf of a wide range of retail and institutional investors. It is one of the
region's largest asset managers with a presence in 11 major Asian markets plus
distribution offices in the US and Europe. It has £151 billion (US$193 billion)
in assets under management (as at 31 December 2018), managing funds across a
range of asset classes including equities and fixed income.
For more information, please visit Prudential Corporation
Asia's website here.
plc is incorporated in England and Wales, and its affiliated companies
constitute one of the world's leading financial services groups. It provides insurance and financial services
through its subsidiaries and affiliates throughout the world. It has been in existence for 170 years and
has £657 billion in assets under
management (as at 31 December 2018). Prudential plc is not affiliated in any
manner with Prudential Financial, Inc, a company whose principal place of
business is in the United States of America.
plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK),
Singapore (K6S.SG) and New York (PUK.N).
OVO is the leading digital payment,
rewards and financial services platform in Indonesia. Now, OVO is present in
115 million devices and can be used to access payments, transfers, top up,
withdrawals, and lending, as well as asset and investment management. OVO is
accepted in more than 300 cities in Indonesia and we are committed to building
the largest financial payment and technology company in Indonesia.
more information, please visit OVO's website here.