Prudential and Google Cloud Partner to Build the Future of Insurance with AI

Prudential plc and Google Cloud today announced an expanded strategic partnership to build innovative AI-powered products and applications. 

Google Cloud will support Prudential’s new AI Lab – the first partnership of its kind for the insurance industry in Asia and Africa – which will focus on solving business and customer challenges.

Prudential Launches AI Lab

According to Prudential, the AI Lab is designed to accelerate its adoption of machine learning, AI, and generative AI (gen AI). This will also drive progress towards its strategic priorities of delivering a better customer experience, driving technology-powered distribution, and Improving access to affordable, quality healthcare.

The Lab will also provide Prudential’s 15,000 employees with a new sandbox environment and step-by-step process for turning their ideas into scalable AI products and applications. 

This includes access to leading large language models, advanced and secure gen AI and data analytics solutions, and end-to-end Cloud provision.

Thomas Kurian, CEO of Google Cloud, said, “Generative AI represents a significant opportunity to drive innovation in the insurance industry. Our collaboration with Prudential and the launch of its AI Lab will help to reimagine customer experiences, optimize operations, and unlock new growth possibilities.”

“Google Cloud is committed to providing the AI and data analytics capabilities, as well as the expertise needed to support Prudential’s vision for the future of insurance.”

About Prudential Plc

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa by providing simple and accessible financial and health solutions.

Anil Wadhwani, chief executive officer of Prudential plc, said, “Our expanded partnership with Google Cloud will unlock the innovation and creativity of our 15,000 employees and increase our speed to market, particularly in health insurance, where we see tremendous growth opportunities. By deepening our collaboration, we will build the future of insurance for our customers.”

Also Read: AFIK and Moringa School Set Out to Offer Flexible Online Fintech Course

Looking Ahead: Prudential Intention For Future Partnership

The AI Lab also has futuristic plans to partner with institutes of higher learning, research centers, promising start-ups, and AI experts. 

According to Prudential, this launch deepens the working relationship between Prudential and Google Cloud which was established in 2019. 

To drive better insurance, health, and financial outcomes across Asia and Africa, both organizations have been collaborating on digital transformation initiatives that have the potential to benefit millions globally.

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