Prudential completes first histotripsy claim for liver cancer treatment
Kuala Lumpur, 01 September 2021 - Prudential Assurance Malaysia Berhad (PAMB) and Prudential BSN Takaful Berhad (PruBSN) (collectively referred to as Prudential Malaysia) have launched their latest digital solution, NextGen Underwriting Engine, which is designed to perform real-time risk assessment on policy and certificate applications and make instant underwriting decisions at the point of sales. The aim is to shorten application processing time by reducing requirements such as completing questionnaires and speeding up procedures especially for customers with minor medical conditions.
NextGen Underwriting is integrated into PAMB’s and PruBSN’s respective e-submission platforms PRUWay Plus and PruBSN Mobility. The solution employs reflexive or dynamic questions at the point of sales, which means that underwriting decisions can be made immediately after a health disclosure has been made by the customer. With this solution, the time needed to issue an electronic policy or takaful contract for minor medical conditions could be reduced from a matter of days to two hours, and in certain cases, even within 15 minutes.
Lim Eng Seong, CEO of Prudential Assurance Malaysia Berhad said, “Our aim is to provide a seamless customer experience and we strive to make the purchase and application process as hassle-free as possible. We are very pleased that with this new digital underwriting tool, we are able to issue policies and certificates within a few hours and provide peace of mind to our customers much more quickly.”
Wan Saifulrizal Wan Ismail, Chief Executive Officer of PruBSN added, “Technology continues to evolve and change people’s behaviours and lifestyle. Through leveraging the latest technology and digitising our business model, we are able to enhance customer experience, as well as to help reduce follow-up and paperwork for our Wealth Planners and Takaful Agents so they can focus on engaging with their customers.”
