Singapore – Financial services company Prudential has recently announced an expanded collaboration with Google Cloud, aiming to develop AI-powered products and applications that aid in improving customer, agent, and employee experiences.
Under this collaborative effort, Google Cloud will support Prudential’s new artificial intelligence lab, which will focus on solving business and customer challenges. This initiative will be launched later this year, targeting the swift adoption of machine learning, AI, and generative AI while further harnessing progress towards Prudential’s strategic priorities.
Included in these priorities are delivering a better customer experience, driving technology-powered distribution, and improving access to affordable and quality healthcare.
Moreover, the lab will provide the company’s 15,000 employees with a new sandbox environment and a 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.
Additionally, it will also be supported by Google Cloud’s deep expertise in health-focused AI, which will prioritise ways of using artificial intelligence. The lab will further focus on using AI to improve operating processes to provide a better experience for customers, agents, and employees alike and drive new bottom-line efficiencies.
Anil Wadhwani, chief executive officer at Prudential plc, said, “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,” explained Wadhwani.
Thomas Kurian, CEO at Google Cloud, further remarked, “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.”
The AI Lab, to be headquartered in Singapore, will also work alongside institutes of higher learning, research centres, promising start-ups, and AI experts. This move further solidifies the relationship between the two, with the aim of driving better insurance, health, and financial outcomes across Asia and Africa.
