January 15, 2019
Pacific Life Re partners with Prudential Singapore to launch new digital solution
Pacific Life Re has partnered with Prudential Singapore to launch a new digital solution which offers their customers instant underwriting decisions at point of sale. The underwriting technology is powered by Pacific Life Re’s fully-owned subsidiary, UnderwriteMe.
Andrew Gill, Managing Director of Asia & Australia, Pacific Life Re, commented, “The launch of Prudential’s digital platform was delivered in just a couple of months. This has allowed Prudential Singapore to re-engineer its customer journey to create a market advantage in a very short period of time. This speed to market was only made possible by our ability to work with an agile, test-and-learn methodology.”
Since the solution was first implemented in late January, it was found that two in three applications received an immediate underwriting decision.
Plans to extend this solution to the rest of Prudential Singapore’s products over the course of the year are underway.
Gill concluded, “All these would not have been possible without a strong tripartite collaboration between Prudential Singapore, Pacific Life Re and UnderwriteMe, with the aim of unlocking huge growth potential by shortening the buying process.”