PRU­DENCE AND OTHER VIRTUES

Across Asia, the Pru­dence Foun­da­tion cham­pi­ons cam­paigns fo­cused on im­prov­ing road safety, fi­nan­cial lit­er­acy and early child­hood ed­u­ca­tion. Pru­den­tial Cam­bo­dia CEO David Nut­man talks about the im­por­tance of giv­ing back to the com­mu­nity

Southeast Asia Globe - - Advertorial -

What is your over­all im­pres­sion of Cam­bo­dia’s life in­sur­ance mar­ket?

My over­rid­ing im­pres­sion is one of strong po­ten­tial growth. As a mar­ket, we’re a more than 15 mil­lion pop­u­la­tion, hugely un­der-pen­e­trated for in­sur­ance pur­poses. Fi­nan­cial pro­tec­tion is not some­thing that has been served par­tic­u­larly well to this point, and for fam­i­lies mov­ing hope­fully in a more af­flu­ent di­rec­tion as the econ­omy grows, they need pro­tec­tion. Be­cause if some­thing goes wrong in their life, they have to start again. So we think it’s an ex­cit­ing place to be with good op­por­tu­nity – and what we of­fer meets the cus­tomer’s needs in a grow­ing econ­omy

Which prod­ucts have proven the most pop­u­lar since Pru­den­tial set up shop in Cam­bo­dia?

Our cur­rent most pop­u­lar prod­uct, edusaveX­tra, is a com­bined pro­tec­tion and sav­ings prod­uct. Through this prod­uct, we are pro­vid­ing pro­tec­tion in the case of an un­for­tu­nate event oc­cur­ring to the cus­tomer, such as death or per­ma­nent dis­abil­ity. If this does not oc­cur, the cus­tomer will re­ceive a pay­out when the pol­icy ma­tures - or a re­turn, which he or she could use to re-in­vest. A lot of peo­ple use it from a long-term ed­u­ca­tional sav­ings per­spec­tive, whether that be univer­sity or high school. The prod­uct comes with a num­ber of fea­tures, so the cus­tomer can get some ad­vice to tai­lor the

prod­uct to meet their spe­cific needs.

Pru­den­tial is known for its cor­po­rate so­cial re­spon­si­bil­ity ac­tiv­i­ties. Could you talk a lit­tle about these?

Pru­dence Foun­da­tion, which is the com­mu­nity in­vest­ment arm of Pru­den­tial in Asia, fo­cuses on three core ar­eas to sup­port the com­mu­nity. One’s around early child­hood care and de­vel­op­ment (ECCD), the sec­ond’s around fi­nan­cial lit­er­acy and the third’s around dis­as­ter pre­pared­ness and re­cov­ery. Here in Cam­bo­dia we part­ner with Save the Chil­dren on an ECCD pro­gramme called First Read, which fo­cuses on chil­dren un­der six de­vel­op­ing stronger lit­er­acy skills be­fore they start school. Since in­cep­tion in 2013, in Cam­bo­dia FR has di­rectly reached over 61,000 chil­dren and 62,000 adults, and in­di­rectly over 350,000 ben­e­fi­cia­ries. We work very closely with the gov­ern­ment on this pro­gramme which has re­ceived great recog­ni­tion. For fi­nan­cial lit­er­acy, we have a re­gional pro­gramme called Cha-Ching. It’s a car­toon that teaches chil­dren sim­ple money man­age­ment con­cepts – earn, save, spend and do­nate- the pro­gram reaches more than 34 mil­lion house­holds per day, and avail­able in 10 lan­guages. Then we have our SAFE STEPS pro­gramme, which pro­vides con­cise ‘what to do’ ad­vice on is­sues which cause un­nec­es­sary loss of life. The first re­lates to nat­u­ral dis­as­ters with Manny Pac­quiao, the Filipino boxer, as its Am­bas­sador. The sec­ond re­lates to road safety which we just launched in April as part of the gov­ern­ment’s road safety week. This has Michelle Yeoh, the Malaysian ac­tress, as its Am­bas­sador. The Royal Gov­ern­ment has done a lot in these ar­eas and we want to help sup­port their ef­forts.”

Road Safety Aware­ness in Siem Reap

Cha-Ching Ac­tiv­ity

STEM Ed­u­ca­tion Work­shop

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