Prudential Assurance Malaysia Berhad triumphs at Insurance Asia Awards 2024

The company secures top honours for its inclusive insurance initiatives in Malaysia.

Prudential Assurance Malaysia Berhad (PAMB) has been honoured with prestigious accolades at the Insurance Asia Awards 2024, winning the Insurance Inclusion Initiative of the Year - Malaysia and International Life Insurer of the Year - Malaysia. These awards underscore PAMB's century-long dedication to making financial protection accessible and affordable in Malaysia.

A notable achievement is the recognition for the 'Insurance Inclusion Initiative of the Year - Malaysia' award. Through its PRUKasih Aman programme, PAMB has made a significant difference in the lives of 11,000 individuals from Malaysia’s low-income and disabled communities, offering them comprehensive financial protection from as little as RM25 (US$5) per annum. More than that, the programme has disbursed RM1,672,650 (US$350,000) in claims, reinforcing financial stability in times of need.

To further support its goal of covering 15,000 individuals by the year's end, PAMB has been active on the ground, conducting weekly activations in People's Housing Project (PPR) flats. These engagements not only promote the importance of financial protection plans but also incorporate crucial financial education, helping communities manage finances and navigate potential financial pitfalls.

The award for 'International Life Insurer of the Year - Malaysia' celebrates PAMB's innovative approach and its legacy of being a trailblazer in the Malaysian insurance market. As it marks its 100th anniversary, the company proudly introduced several groundbreaking products tailored to meet the diverse needs of Malaysians. These include PRUMan & PRULady, critical illness plans designed specifically for gender-specific health needs, and enhanced PRUMy Child Plus, a comprehensive prenatal solution covering mother and baby from as early as 13 weeks of pregnancy and into adulthood.

Moreover, in response to the demand for more affordable protection plans following the success of its i-Lindung product, PAMB introduced PRUGuard Family and PRUCare Family in early 2024, comprehensive plans that allow EPF members to leverage their EPF Account 2 funds for financial protection for their families and themselves. Additionally, PAMB has adapted its solutions to rising medical costs with a medical booster solution that increases annual coverage up to RM15 million, demonstrating a proactive response to the evolving healthcare needs of its policyholders.

Beyond these innovations, PAMB is deeply invested in community programmes that enhance financial resilience amongst underserved families and children. These initiatives, centered around protection, education, and growth, exemplify PAMB's commitment to not just business excellence but also to societal contributions.

The Insurance Asia Awards is presented by Insurance Asia Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's significant impact on its customers with exceptional products, services, and solutions in the insurance industry, please contact Julie Anne Nuñez at julie@charltonmediamail.com.