Prudential & OVO Partner in Indonesia

PT Prudential Life Assurance (the largest life insurer in Indonesia with over 2m customers) has partnered with OVO, a digital payments, rewards and financial services platform in Indonesia.

The two will develop wellness, health and wealth products and services to allow customers to enjoy the convenience of transacting online with electronic underwriting, e-payments, e-claims and easy access to Prudential’s wide hospital network, complementing the face-to-face service from Prudential’s financial consultants in 160 cities.

Also, by leveraging OVO’s complementary capabilities and extensive customer reach, Prudential will accelerate the Asia launch of Pulse, its digital health management platform powered by AI.

“Indonesia is vital to our Asia strategy and we are excited to bring unique and beneficial offerings to the country’s growing population of digital consumers. By combining OVO’s reach and Prudential’s best-in-class products and services, we can help Indonesians to digitally manage their wellness and health, protect what matters most, and grow their wealth.” – Prudential Corporation Asia CEO Nic Nicandrou.

“As a market leader in Indonesia, we remain focused on enhancing our operations and service to customers, through both digital and face-to-face channels. Our collaboration with OVO helps meet the fast-evolving protection and health needs of the Indonesia market. We will continue our efforts to support the government’s vision to provide greater financial inclusion and promote the health and wellbeing of Indonesians.” – President Director of Prudential Indonesia, Jens Reich.

“As Indonesia’s largest mobile payments and financial services platform, our partnership with Prudential further underlines OVO’s comprehensive suite of financial services, from payment, lending and now accessible insurance. Bringing the first collaboration between fintech platform and life insurer in Indonesia, we are humbled to bring financial inclusion closer, allowing more people to enjoy equal financial access.” – OVO CEO Jason Thompson.

Bottom Line: The partnership “significantly” enhances Prudential’s reach in one of Asia’s fastest-growing insurance markets with a digitally-savvy population.