UOB Malaysia first bank in Southeast Asia to tap Prudential’s Virtual Face-to-Face feature to offer financial advisory and insurance solutions
Kuala Lumpur, Malaysia, 22 September 2021 – UOB Malaysia today announced that it is tying up with Prudential Assurance Malaysia Berhad (PAMB) to provide customers with a suite of insurance solutions digitally through a new Virtual Face-to-Face (VF2F) feature on Pulse1, the insurer’s all-in-one health and wellness app. UOB Malaysia is the first bank in Southeast Asia to use the VF2F feature, enabling its customers to manage their insurance needs digitally and conveniently, particularly important during the ongoing pandemic.
UOB Malaysia’s 360-strong sales representatives can use the VF2F feature on the Pulse app to connect with their customers via chat or video call and help them with insurance advisory services including recommending life insurance products relevant to their needs. The VF2F feature also enables the Bank’s customers to submit the necessary documentation and forms electronically, eliminating the need to fill in a physical questionnaire. As the entire process, from receiving financial guidance to applying for and confirming their insurance coverage is conducted on the app2, customers can fulfil their protection and wealth planning needs in a simpler, smarter and swifter manner without visiting a branch.
Mr Ronnie Lim, Managing Director and Country Head of Personal Financial Services, UOB Malaysia, said the collaboration with PAMB demonstrates the Bank’s commitment to providing customers with progressive and convenient solutions that are relevant to their lifestyle needs and preferences and in the manner they prefer.
“Many customers are unable to seek assistance or support at our branches due to the ongoing movement restrictions and physical distancing requirements. The impact of the prolonged pandemic also has many customers reassessing their financial goals. We are pleased to be the first bank in the region to use the VF2F feature on Prudential’s Pulse app, thereby offering our customers the flexibility and peace of mind of seeking wealth advice from the comfort of their own home. The latest digital offering is part of the Bank’s continuous efforts to offer greater convenience while safeguarding the health and safety of our customers and employees. The introduction of the VF2F feature to offer customers protection solutions is timely given the latest surge in COVID-19 cases. With more consumers using smartphones to manage their financial needs, we hope that one in every two customers will benefit from this new feature and sign up for the protection or wealth solutions that we offer together with PAMB,” Mr Lim said.
Mr Lee Ee Hui, Senior Director, Partnerships Distribution of PAMB, said, “Prudential’s purpose has always been to help people get the most out of life through protecting their health and growing their wealth. The pandemic has elevated the awareness of insurance protection and the critical need to be financially protected. With this partnership, we are able to offer UOB Malaysia’s customers a secure end-to-end service anytime, anywhere through our AI-powered health app, Pulse.”
Additionally, customers can apply for the COVID-19 Medical Plan Coverage Campaign3 once their eligible medical plan(s) are in force. The coverage enables them to reimburse medical expenses incurred while treating COVID-19 in a hospital. The reimbursement will be provided based on the terms and conditions stated in the customer's insurance contract, where the eligible medical plan will be treated as if it does not have the exclusion for communicable disease requiring quarantine in law. With this, medical claims limits will be reduced according to the reimbursed amount. For eligibility on the campaign and terms and conditions, please click here.
Customers are also offered a cash relief of RM500 under the Post COVID-19 Vaccination Campaign4, if they are hospitalised for experiencing serious adverse effects from immunisation (AEFI) within seven days of taking an approved COVID-19 vaccine. The campaign will continue to run until 31 December 2021 or upon reaching the maximum claims limit of RM1,000,000, whichever is earlier. As part of the tie-up, UOB Malaysia customers will also get to enjoy a suite of privileges5 when they use the Pulse by Prudential app. These privileges include access to an AI-powered symptom checker, health assessment and online doctor consultation services.
PAMB and UOB Malaysia are celebrating the 10th year of their strategic bancassurance partnership, whereby the Bank distributes PAMB’s life insurance products to its retail customers.
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1 Pulse by Prudential is an all-in-one digital health app that offers holistic health management services to consumers, putting health and wellness in their hands with 24/7 digital self-help tools and real-time information to help them prevent, postpone and protect against the onset of diseases.
2 All documents will be shared and signed-off electronically by customers via the Pulse app. The policy will then be sent to their registered email account. As an added layer of security, customers can also record the end-to-end sales process.
3 Subject to terms and conditions, please visit www.UOB.my/c19pru for PAMB and www.UOB.my/c19bsn for PruBSN.
4 & 5 Terms and conditions apply.