Prudential Singapore, one of the leading life insurers in Singapore, has launched a new financial advisory firm called Prudential Financial Advisers (PFA). The new entity will offer a wider range of insurance products, including general insurance and wealth solutions, in addition to Prudential’s core solutions in whole and term life, health, savings, retirement, and group insurance.
Customers will now have access to travel insurance, motor insurance, and wealth solutions such as unit trusts. They can also access complementary solutions and auxiliary services provided by PFA’s partners, including estate planning, family office, and tax advisory.
PFA will be led by Bernard Chai, an industry veteran of more than 40 years, and almost two decades of it was with Prudential. The new financial advisory firm will help customers address their healthcare needs, protect and grow their wealth, and better plan for their retirement.
Prudential’s distribution ecosystem has expanded to include its tied agency, which has more than 5,000 financial consultants who distribute its protection, savings, and investment products. Additionally, the insurer works closely with its exclusive bancassurance partners UOB and Standard Chartered to develop and deliver innovative insurance solutions to customers.
Dennis Tan, CEO of Prudential Singapore, said that the launch of PFA adds to the breadth and depth of Prudential’s offerings to address people’s enhanced needs for financial security and healthcare at every stage of their life. The new entity will also strengthen Prudential’s distribution network as it continues to grow its agency of more than 5,000 financial consultants to serve the needs of all individuals.
In addition to its new financial advisory firm, Prudential Singapore offers PRUShield and microinsurance plans on its digital health and wellness app ‘Pulse by Prudential’. The insurer is committed to providing innovative solutions to its customers and helping them achieve their financial goals.