Transcription
Pulse by PrudentialHSBC Investor CallNov 2020
Redefining HealthFrom insurer to health partnerSignificant health gapSignificant wellness gapAll-in-one, personalised and ondemand AI-powered appCurrent InsuranceFocus380% of Asians don’thave insurance cover12Enabling Asiansto live longer,healthier lives1Future CustomerFocus 400bn is spent onhealthcare alone byconsumers270% of health drivers arelifestyle andenvironment relatedIn a world with over five billion mobile phones,50% of the population lack access to essentialhealth services3123PreventPostponeProtectRisk Factor IdentificationHealth AssessmentHealth & wellness coaching.Disease diagnosis, treatment& managementNutrition coaching & supportImproving medication regimesvia coachingHospital visits, TelemedicineTriage & Symptom diagnosisValue-added products andservices1. Prudential estimate based on number of in-force policies over total population. 2. Prudential estimate based on WHO and the World Bank data. 3. Source: The Word Bank 2017.2
Pandemic accelerates digital & health trendsGrowing awareness and demand for Health and Wellness91%46%58%59%Hong Kong consumerswould retain life insuranceeven if financial position isdisadvantaged byCovid-191Asian consumerssearched for newinsurance policies1Asian consumersdesire access toValue-AddedServices (e.g. virtualGP)1Asian consumerslook for moreflexible conditions(e.g. added tocover)1% of Hong Kong consumerswilling to retain differenttypes of expensesEating outGym membership28%47%EducationCable TV/Internet servicesLife Insurance Premiums73%68%59%41%54%66%31%57%56%81%86%91%1. Swiss Re COVID-19 Consumer Survey, April 2020.3
Pulse by PrudentialEnd-to-end Health and Wellness platformEngage Enable consumers’ to takepersonal control of their health &wellness Broad-based, tailored solutionsand services Best of breed health & wealth(products & services) fromPrudential and partnersOnboard Bite-sized, direct insuranceproducts and other services Gateway to broader Prudentialproduct-suite and leads to agents Instant virtual access to PrudentialagentsFulfilment Digital, on-demand 24/7 self-service Electronic access to hospitalnetworks, pharmacies and doctors ‘e-Wallet’ and ‘e-Claims’ fulfilment Leverage partners’ ecosystems toaccess large consumer base4
Pulse by PrudentialEnd-to-end Health and Wellness platformEngage1Drive revenuestreamsTrusted advisor and navigator - helpingindividuals achieve their personalised healthand wellness goalsEngagement through Pulsedrives revenue streams throughtailored solutionsOnboardBroader customer segments, access pointsand offerings AI assessment and triage Direct to customer offering of bite-sized cover Lifestyle management and wellness Customized packages, products and 3rd partyservice offerings Telemedicine consultations andmedicine delivery Modular products with subscriptions and feefor service Chronic disease management Health records Lead generation for Pru agents with virtualface-to-face fulfilmentCustomer White-labelling on partner platforms to drivedata enrichment and create network effect Hospital navigator3Enrich customeroffering throughdata & AIDigitalonboardingFulfilmentEnd-to-end frictionless servicesAI learning loops driveability to enrich customerpropositionsSingle app forcustomers &distributors2Deliver operatingleverageIntegrated service platform,modernising customerexperience and driving scaleefficiency5
Pulse by PrudentialDelivery roadmap in first 15 months08/08/2019Launch Started AImarketingcampaigns07/02/2020Launch inIndonesia25/03/2020Launch in HK &the Philippine23/04/2020Launch inSG3Q 2020Taiwan,Myanmar,Laos &CambodiaJun 2020Launch inThailand20/05/2020Launch inVietnamOct/Nov 2020Available inKenya &GhanaOct 2020PRUShaliralaunch15/10/202010 million10,000,0006/11/202012 million3/08/20208 million22/07/20207 million8,000,00006/05/20204 million6,000,00026/09/20209 million10/06/20205 million25/10/202011 millionRecent releases 13/04/20203 million4,000,00025/03/20202 19Nov-19Dec-19Jan-2024/02/20201 ep-20Oct-20Nov-206
Pulse by PrudentialGaining strong traction Launched 18 digital products including Dengue fever, PRULeads: converting downloads into leads Pulse by Prudential live in 13 markets and 10Credit Shield, Personal Accident, COVID-19 coverage2languages1 Issued 1.8 million policies, sold direct through Pulseand partners; 1 million new customers acquired 25 new digital partnerships secured; 1.2mcumulative usage1 of Babylon services andTelemedicinethrough the digital channels2Broadeningcustomer baseTMRW1. As of 8 November 2020.2. As of 3Q2030.2020VNTH254030303030New to Prudential(direct & referral)33Prudentialcustomer mix2IDMYPH Pulse as virtual agency sales tool in thePhilippines and MalaysiaAverage age of typicalPrudential customerAverage age ofPulse user bymarketmillion2 Partnerships with OVO, The 1, AIS, UOB Mighty, 12 million downloads1 c.855k leads generated for agents fromApril to September, converting into 70konline to offline sales with APE of 95TW LaosSG70%Existingcustomers30%HK7
Redefining HealthFrom insurer to health partnerEngage Transforming business to meet growing demand for integrated Healthand Wellness products and servicesOnboard Accelerating consumer adoption through Pulse by improving customeraccess and lowering price thresholds Driving operating leverage through scale and network effectsFulfilment Creating value for all stakeholders8
Pulse by Prudential Gaining strong traction 1.As of 8 November 2020. 7 2.As of 3Q2030. PRULeads: converting downloads into leads c.855k leads generated for agents from April to September, converting into 70k online to offline sales with APE of 95 million2 Pulse as virtual agency sales tool in the Philippines and Malaysia
