Prudential Partners with Google Cloud to Launch AI Lab, Pioneering the Future of Insurance and Healthcare in Asia and Africa

Prudential Partners with Google Cloud to Launch AI Lab, Pioneering the Future of Insurance and Healthcare in Asia and Africa

(IN BRIEF) Prudential and Google Cloud have partnered to launch an AI Lab in Singapore, focused on developing AI-driven solutions to enhance customer experiences, improve healthcare access, and optimize operations in the insurance sector. The Lab will empower Prudential’s 15,000 employees with advanced AI tools and aims to drive significant innovation in life and health insurance across Asia and Africa. This collaboration marks an expansion of the companies’ ongoing digital transformation efforts.

(PRESS RELEASE) LONDON, 16-Aug-2024 — /EuropaWire/ — Prudential plc (Prudential) and Google Cloud are embarking on a groundbreaking partnership to establish an AI Lab aimed at transforming the insurance and healthcare landscape across Asia and Africa. This innovative collaboration will empower Prudential’s 15,000 employees with advanced AI tools and resources to enhance customer experiences, streamline operations, and improve access to affordable healthcare.

The AI Lab, set to launch later this year, will serve as a hub for developing and scaling AI-powered solutions that align with Prudential’s strategic priorities. These priorities include elevating customer service, advancing technology-driven distribution, and expanding access to quality healthcare services. By leveraging Google Cloud’s expertise in health-focused AI and secure generative AI (gen AI) technologies, the Lab will foster innovation in the life and health insurance sectors.

Key objectives of the AI Lab include creating new applications that provide personalized healthcare experiences, enhancing agents’ ability to deliver seamless service, and optimizing internal processes for greater efficiency. Prudential employees will have access to a sandbox environment where they can experiment with AI and data analytics solutions, transforming their ideas into tangible, market-ready products.

“Prudential is committed to leveraging technological innovation to create value for all our stakeholders. We are actively using data, advanced analytics and AI to create an exceptional customer and agent experience – while helping us work smarter and faster. Our expanded partnership with Google Cloud will unlock the innovation and creativity of our 15,000 employees and increase our speed to market, particularly in health insurance, where we see tremendous growth opportunities. By deepening our collaboration, we will build the future of insurance for our customers.”

Thomas Kurian, CEO, Google Cloud, said: “Generative AI represents a significant opportunity to drive innovation in the insurance industry. Our collaboration with Prudential and the launch of its AI Lab will help to reimagine customer experiences, optimise operations, and unlock new growth possibilities. Google Cloud is committed to providing the AI and data analytics capabilities, as well as the expertise needed to support Prudential’s vision for the future of insurance.”

Located in Singapore, the AI Lab will also engage with academic institutions, research centers, startups, and AI experts to drive forward-thinking solutions. This partnership builds on the strong foundation established between Prudential and Google Cloud since 2019, with a shared goal of enhancing insurance, health, and financial outcomes for millions across Asia and Africa.

About Prudential plc

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

https://www.prudentialplc.com/

About Google Cloud

Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

Media Contact:

Prudential plc
Sophie Bent
Email: sophie.bent@prudential.com.hk

Sonia Tsang
Email: sonia.ok.tsang@prudential.com.hk

Google Cloud
Rebecca Wong
Email: wongrebecca@google.com

Katherine Lin
Email: katherinelin@google.com

SOURCE: Prudential plc