By Modupe Gbadeyanka
An expanded strategic partnership to build innovative AI-powered products and applications has been entered into between Prudential Plc and Google Cloud.
The applications are expected to help enhance customer, agent and employee experiences, as Prudential works towards the launch of its new AI Lab later this year.
The Lab will provide Prudential’s 15,000 employees with a new sandbox environment and step-by-step process for turning their ideas into scalable AI products and applications.
This includes access to leading large language models, advanced and secure gen AI and data analytics solutions, and end-to-end Cloud provision.
The partnership, the first partnership of its kind for the insurance industry in Asia and Africa, presents an opportunity to shape the future of AI in life and health insurance and will focus on solving business and customer challenges.
Supported by Google Cloud’s deep expertise in health-focused AI, the Lab will initially prioritise ways of using AI to provide improved access to quality healthcare, while supporting agents’ ability to deliver a seamless and personalised customer experience.
It will also focus on using AI to improve operating processes – to deliver a better experience for customers, agents and employees alike, and drive new, bottom-line efficiencies.
Based in Singapore, the AI Lab will also partner with institutes of higher learning, research centres, promising start-ups and AI experts.
“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.
“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,” the chief executive of Prudential, Anil Wadhwani, said.
Also, the chief executive of Google Cloud, Thomas Kurian, said, “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, optimise 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.”
Adedapo Adesanya