Prudential plc and Google Cloud announced an expanded strategic relationship to develop AI-powered products and solutions to improve customer, agent, and staff experiences.
The pair announced that Google Cloud will support Prudential’s new AI Lab, the insurance industry’s first partnership in Asia and Africa, which will solve business and consumer problems.
The AI Lab, launching later this year, will accelerate Prudential’s adoption of machine learning, AI, and generative AI (gen AI) while advancing its strategic priorities of improving customer experience, technology-powered distribution, and affordable, quality healthcare.
The Lab will give Prudential’s 15,000 workers a new sandbox and step-by-step procedure for developing scalable AI products and applications. Top big language models, secure AI and data analytics solutions, and end-to-end Cloud provision are included.
The announcement suggested the relationship might shape life and health insurance AI.
The lab will first focus on leveraging AI to increase access to quality healthcare and assist agents’ ability to provide a seamless and tailored customer experience, supported by Google Cloud’s health-focused AI capabilities.
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The lab will also use AI to optimize operating processes to improve customer, agent, and staff experiences and boost bottom-line efficiency.
“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,” said Anil Wadhwani, Chief Executive Officer, Prudential plc. 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,” he added.
The AI Lab, which is based in Singapore, will collaborate with research facilities, universities, bright start-ups, and AI specialists.
The partnership between Prudential and Google Cloud, which was formed in 2019, is strengthened by this launch.
Thomas Kurian, Chief Executive Officer of Google Cloud, said that 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, optimize 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,” he added.
Both institutions have been working together on digital transformation projects that could help millions of people worldwide in order to improve insurance, health, and financial results throughout Asia and Africa, according to the release.
Prudential is a company that offers asset management, life and health insurance, and services in 24 markets in Asia and Africa. The company is listed as a main on both the London Stock Exchange and the Stock Exchange of Hong Kong.
In addition, it is listed on the New York Stock Exchange and the Singapore Stock Exchange as a secondary listing. AI, infrastructure, developer tools, data, security, and collaboration are all offered by Google Cloud.
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The company provides an efficient and integrated AI stack that includes its own chips, generative AI models, development platform, and planet-scale infrastructure in addition to AI-enabled applications.
About Prudential plc
Prudential has offered trustworthy financial protection. Now headquartered in Hong Kong and London, They are top three in 12 Asian regions with 18 million consumers, 68,000 average monthly active agents, and over 27,000 bank branches.
About Google Cloud
Google Cloud helps every company digitally improve its business and sector. They offer enterprise-grade solutions using Google’s cutting-edge technology and sustainable development tools.
