May the insurance be with you – a peek into Luke Tan’s first coverage plan (Infographic)

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One of the most common signs of “adulting” – as the kids like to say these days – is being responsible not just for your own well-being but also for those that you support.

With the cost of living skyrocketing and issues like housing prices weighing down more heavily than ever, there’s often little room for error when it comes to financial well-being.

Insurance plays a key role here. In the event of a mishap, the coverage extends to making up for the loss of income or ensuring that medical bills don’t end up being a burden.

As such, there’s a significant amount of people that sign up for some form of coverage, especially in Singapore. In 2021, the country’s total insurance penetration rate stood at 9.3%, making it one of the highest in Asia Pacific.

For insurance firms, engaging this huge customer base means that their processes need to be as optimized as possible so that they can offer the best experience.

In the case of Prudential Singapore, this manifests as a range of tech-enabled services. Here’s a look at what goes on behind the scenes – from processing an application for an insurance plan to paying for a claim – to make insurance hassle-free.

Illustrations by: Lim Chae Huah

Prudential Singapore is one of the country’s top life insurance companies, having served the financial and protection needs of citizens for 92 years. It delivers a suite of products in areas such as protection, savings, and investments through multiple distribution channels. To find out more, visit its site.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.