Prudential Singapore and DirectAsia Insurance Singapore have announced an exclusive strategic partnership to provide their customers with a more comprehensive suite of life and general insurance products.
Prudential’s close to one million customers will be able to purchase DirectAsia’s travel and motor insurance through its more than 4,800 Financial Consultants.
In turn, DirectAsia’s customers will have access to Prudential’s suite of protection, savings and health insurance plans through the life insurer’s digital platform and benefit from the advisory capabilities of its Financial Consultants.
Prudential Singapore’s CEO Wilfred Blackburn said, “We’re looking at an expanding protection gap in Singapore, with 8 in 10 people being under-insured in the country. The partnership with DirectAsia will allow us to rapidly widen our customer base by tapping into the growing segment of online consumers. Our aim is to bring insurance products and financial advisory to more people in a way that is most convenient for them.”
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DirectAsia Singapore CEO Bob Thaker said, “Just like the several thousand new customers insuring with DirectAsia each month, Prudential’s customers can now benefit from our innovative and affordable car and travel insurance, market-leading customer service and digital capabilities. We see this partnership as a win-win for our respective customers and we cannot wait to get started.”
Financial Consultants remain important
Through the partnership, Prudential’s Financial Consultants will have the opportunity to reach a new and growing segment of digitally savvy consumers through DirectAsia. Every DirectAsia customer who purchases Prudential’s insurance plans – regardless of the mode of purchase – will be offered the service of a Financial Consultant.
Mr Blackburn said, “This is because face-to-face advisory is important in helping customers make well-informed long-term financial decisions. Our Financial Consultants remain an important part of our business as they continue to play a vital role in helping our customers plan for and achieve their financial goals.”
DirectAsia was launched in Singapore in 2010 and is one of the leading online travel and motor insurers in the country.
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(Main pic: Prudential Singapore’s CEO Wilf Blackburn and DirectAsia Singapore’s CEO Bob Thaker. Picture credit: Prudential.)