Philippine life insurer Pru Life UK will start offering life protection to Filipinos living and working in Cambodia through the Prudential (Cambodia) Life Assurance PLC. Available through Pulse by Prudential, an all-in-one AI-powered health and wealth management app, overseas Filipino workers (OFWs) can now avail themselves of insurance products offered by Pru Life UK.
“The goal is to help OFWs secure and build a better future for them and their families,” Pru Life UK said. “This pioneering venture will be rolled out to about 7,000 Filipinos based in the neighboring Southeast Asian country.”
“For many years, most OFWs have had difficulties in getting insurance products while working in foreign lands due to education and access,” said Eng Teng Wong, president and CEO, Pru Life UK. “It is with these factors that we at Pru Life UK came up with this idea of bringing insurance products closer to them, by teaming up with our neighboring Prudential Cambodia.”
Through this partnership, geo-targeted advertisements of PRUMySafety, a digital protection product available through Pulse in Cambodia, will be communicated to OFWs there. PRUMySafety provides daily cash benefits upon hospitalization, bone fracture, and death benefit, against road accidents in just a few clicks.
Once OFWs have purchased the coverage in Pulse, they can also get advisory services from Pru Life UK agents who can cater to the OFWs’ needs and give them access to other protection and investment products which they can readily purchase once they go home to the Philippines.
“Guided by our We DO commitment, we focus not only on our customers here in the Philippines,” Wong said. “We hope that this is just the start of something bigger and long-lasting so that we can reach as many of our modern day heroes in different areas of the world, starting with Cambodia.”
According to Allan Tumbaga, SVP and chief customer marketing officer, Pru Life UK, they are piloting this service in Cambodia, which has a “manageable market of OFWs. He said this initial stage of testing will determine if they will expand in other countries and they are not ruling out that possibility.
Prior to this partnership, Pru Life UK has been helping OFWs who are waiting for their deployment and their families in the Philippines through various campaigns, mainly on discussions about their life after working overseas, savings, and the importance of having protection plans. Pru Life UK also has a group of insurance agents called the OFW PRUTectors Club which leads to these financial literacy and wealth-building sessions.
“We strongly believe that making products and services accessible to our hardworking OFWs will better prepare them once they decide to go back home, or retire, and be with their loved ones,” Wong said.