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8th August 2018
Prudential and Babylon in exclusive AI healthcare contract for insurer's customers across Asia
Prudential Corporation Asia has announced it has entered into an exclusive partnership agreement with UK-based healthcare technology and services company Babylon Health. Babylon’s artificial intelligence AI) expertise will be made available to existing and new customers of Prudential across Asia marking a step change in Prudential’s commitment to provide digital health services making healthcare affordable and accessible across Asia.
Prudential is a leading provider of medical insurance in Asia, with over five million health customers and premium income exceeding £800m 2017. Based in the UK, Babylon offers a world-leading suite of AI-powered health services, including personal health assessment and treatment information, empowering users to proactively manage their health. Through the deployment of cutting-edge AI technology, the Prudential-Babylon proposition will offer customers in up to 12 markets in Asia 24/7 access to a comprehensive set of digital health tools, complementing Prudential’s existing suite of world-class protection products.
Nic Nicandrou, chief executive of Prudential Corporation Asia, comments “At Prudential, we strive to help customers lead healthier and more secure lives. The strategic partnership with Babylon is consistent with our ambition to address the unmet healthcare needs in Asia where the majority of the population are uninsured or underinsured, alongside an ageing population and escalating medical costs. This partnership accelerates our efforts to provide customer-centric, cost efficient and scalable health and wellness digital services to customers in the region.
“We are significantly expanding our role from protection to encompass the prevention and postponement of adverse health events. By empowering customers with self-help tools and real-time health information, we believe the Babylon-enabled platform will inspire them to take an active role in understanding and managing their current and future health needs. Prudential remains committed to help both consumers and governments find efficient solutions to expand access to quality healthcare across Asia.”
Dr Ali Parsa, Babylon’s founder & ceo, added “Prudential is one of Asia’s leading insurance providers, where its brand is synonymous with trust. We find it humbling that after a lengthy search, Prudential’s forward-looking leadership has put its trust in Babylon as its partner. Both organisations share the same mission, which is to make healthcare accessible and affordable to everyone on Earth. We look forward to working with one of the most innovative leadership teams in insurance, as they work to build on their strong legacy in Asia and continue in their contribution of enhancing the well-being of its people.”
Market-specific details and launch dates for Prudential’s Babylon-enabled health services will be announced later in the year.
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