SINGAPORE (Oct 19): Prudential Singapore today announced the launch of the PRU Fintegrate Partnership (PRU Fintegrate) which seeks to collaborate with fintech startups in Singapore and globally, and to co-develop digital solutions for customers.

Prudential says this is the first programme of its kind globally and marks a milestone in its continued effort to foster greater innovation in the industry.

PRU Fintegrate focuses on building innovative financial solutions, simple interfaces and seamless experiences for customers.

These enhancements will be applied across the entire value-chain – from helping customers understand how to bridge their protection gap and to plan better for their financial future, to simplifying their insurance purchase and claims process, as well as providing Prudential’s Financial Consultants with digital tools to serve their customers better.

In addition, it also provides a clear end-goal as selected startups may enter into a commercial engagement with Prudential, as well as potentially draw on the firm’s global resources.

Fintech startups globally are welcome to participate in the programme. But for starters, Prudential will collaborate with startups that have a solid track record and offer solutions that can be applied at scale and at speed, enabling faster development of solutions.

Nic Nicandrou, chief executive of Prudential Corporation Asia (PCA) says, “Digital innovation is a key component in our overall strategy for the region as we recognise the fast-changing needs and preferences of our customers, including the technology-savvy millennial generation which is expected to represent 60 percent of the global population by 2020.”