Life insurer Prudential Singapore announced the official launch of its new new financial advisory firm which will enable it to offer a wider range of insurance products including general insurance and wealth solutions.
Through the new Prudential Financial Advisers (PFA), customers will now also have access to travel insurance and motor insurance and wealth solutions such as unit trusts.
This is in addition to Prudential’s core solutions in whole and term life, health, savings, retirement and group insurance.
On top of that, customers can also access complementary solutions and auxiliary services provided by PFA’s partners including estate planning, family office and tax advisory.
With the addition of PFA, Prudential’s distribution ecosystem has expanded to include its tied agency which has more than 5,000 financial consultants who distribute its protection, savings and investment products.
Additionally, Prudential’s works closely with its exclusive bancassurance partners UOB and Standard Chartered to develop and deliver innovative insurance solutions to customers.
The insurer also offers PRUShield and microinsurance plans on its digital health and wellness app ‘Pulse by Prudential’.
The new financial advisory firm will be led by Bernard Chai, an industry veteran of more than 40 years and almost two decades of it was with Prudential.
Bernard Chai, CEO of Prudential Financial Advisers said,
“We bring the best of both worlds to our customers – Prudential’s life insurance offerings as well as general insurance and wealth management solutions from our partners.
In this way, we help them to address their healthcare needs, as well as to protect and grow their wealth, so that they can better plan for their retirement.”
Dennis Tan, CEO of Prudential Singapore said,
“We are excited to launch Prudential Financial Advisers as it adds to the breadth and depth of our offerings to address people’s enhanced needs for financial security and healthcare at every stage of their life.
The new entity will also strengthen our distribution network as we continue to grow our agency of more than 5,000 financial consultants, to serve the needs of all individuals.”