Pru Life UK receives honor of Best Employer for 2023
From breadwinners to babies, Pru Life UK has made it its mission to support all members of the Filipino family to help them get the most out of life, whether among its customers, communities, or employees. It’s a mission that has earned them a well-deserved reputation as the Filipinos’ ally in financial wellness and empowerment – and the honor of being included in Statista and Philippine Daily Inquirer’s inaugural list of Best Employers for 2023.
The company takes pride in enabling and empowering its people to connect, grow, and succeed.
The recognition was given to Pru Life UK as a result of its empowering initiatives for its agency force, even amid the new normal. Just this year, the company opened the doors of its award-winning PRUHouse in Ortigas Center, which aims to provide adaptable workspaces suitable to its agency force’s changing workstyles.
PRUHouse is designed to be inclusive and is conducive to a wide range of activities that educates and equips our financial advisors with the knowledge they need to succeed.
Pru Life UK employees take center stage during the company’s sportsfest as a celebration of its 26 years of helping Filipinos get the most out of life.
This year also marked the return of Pru Life UK’s prestigious Prudence Ball, an annual gathering to celebrate and inspire their ever-growing agency force, where some of its most outstanding financial advisors who contributed to the company’s success in the past year were given due recognition. As further proof of its commitment to the growth of its agency force, the company also outranked its competitors in terms of agents who qualified in the Million Dollar Round Table (MDRT), an association of financial professionals from more than 500 companies in the world. In 2021, Pru Life UK had 501 MDRT agents, a huge leap from the 246 qualifiers in 2020.
The positive results of such workforce efforts are reflected in the company’s industry success. In the last two years, Pru Life UK has remained in the top spot in the country’s insurance field in terms of New Business Annual Premium Equivalent (NBAPE) with a total of P8.38 billion for 2021, an 11 percent increase from the P7.95 billion it earned in 2020. This success has also been recognized in the prestigious Insurance Asia Awards, as it received the International Life Insurer of the Year-Philippines trophy for two consecutive years in 2020 and 2021.
Aside from its excellence in the industry, Pru Life UK’s Environmental, Social, and Governance (ESG) Initiatives to educate Filipinos in some of the most relevant issues such as financial literacy and climate change also earned the company recognition this year.
Pru Life UK’s banner youth financial literacy program, “Cha-Ching,” won the Best Non-Profit in a Developing Economy award in the inaugural Money Awareness and Inclusion (MAIA) Awards. It was also recognized as the Silver Stevie® Winner for Communications or PR Campaign of the Year for Corporate Responsibility in the 19th Annual International Business Awards. Meanwhile, its independent study entitled “How will climate change affect the health of Filipinos in the next decade?” was recognized as an Achievement in Thought Leadership by the same award-winning body.
On the side of its customers, Pru Life UK did not disappoint with its innovative programs, even amid extraordinary times for the financial and insurance industry. With Filipino families’ welfare among its top priority, Pru Life UK launched PRUHealth FamLove, a first-of-its-kind protection plan that shares critical illness coverage to up to four family members in one policy. It can be easily availed by Filipino families including same-sex or common-law partners, single parents, and adoptive children.
With Filipino families’ welfare among its top priority, Pru Life UK launched PRUHealth FamLove, a first-of-its-kind protection plan that shares critical illness coverage to up to four family members in one policy.
Keeping in mind the needs of underserved and unserved sectors facing accident- and disease-related financial challenges, Pru Life UK also developed budget-friendly life and health protection products that are more affordable and accessible to the public, such as PRUPersonal Accident Junior, which can now be easily purchased on GCash (its adult version, PRUPersonal Accident, will also be available soon). PRUDengue MedCare e-vouchers are also being offered now on Shopee, making it even more accessible to a wider market.
And as the company continues to encourage Filipinos to get started on their financial wellness journey, Pru Life UK provided free personal accident insurance via Pulse, the all-in-one health and wealth management app, for the first 150,000 registrants from April to June 2022.
On top of Filipinos’ financial health, their physical and mental well-being also continues to be a priority for Pru Life UK. “As we continue to make strides in the insurance industry with customer-centric innovation and solutions, Pru Life UK also ramp up our concerted efforts with our agency workforce and like-minded partners to contribute to and serve the evolving needs of our customers, including the underserved and unserved communities,” Pru Life UK President and CEO Eng Teng Wong says.
These efforts include an P8-million donation to the Philippine General Hospital Medical Foundation Inc. (PGHMFI) to support the UP-PGH Bayanihan Na’s COVID-19 project for the hospital and its healthcare workers assisting COVID-19 patients. It continued its partnership with the Metropolitan Manila Development Authority (MMDA) and Prudence Foundation, the community investment arm of Prudential plc in Asia and Africa, for the SAFE STEPS Road Safety Partnership for the fifth straight year to promote road safety for Filipinos; as part of this tie-up, Pru Life UK provided free Group Personal Accident insurance coverage to about 8,000 MMDA employees.
As a strong proponent of financial literacy especially to the younger generation, Pru Life UK, in partnership with Prudence Foundation and Junior Achievement Philippines, certified over 2,400 teachers to teach financial education to other teachers under the 2022 Cha-Ching Curriculum Financial Accreditation (CCFA) program for the school year 2021-2022.
And with climate change becoming even more prevalent these days, Pru Life UK commissioned an independent study to impart valuable and sustainable knowledge to further educate Filipinos about its effects on their overall health and wealth.
“We also ensure that our digitally-empowered workforce remains as healthy and strong as ever in order to continue serving Filipinos for generations to come, helping them get the most out of life,” says Wong.
ADVT.
