UOB Indonesia and Prudential Indonesia launch PRUTect Care life insurance on TMRW app

Jakarta, 19 September 2022 – UOB Indonesia has partnered PT Prudential Life Assurance (Prudential Indonesia) to launch PRUTect Care, a Sharia-compliant life insurance product, on TMRW platform.

With a one-time premium payment of IDR16,000, insurers signing up for the basic Silver package will be covered against various causes of death including COVID-19, as well as accidents, hospital care and infectious diseases. Customers can choose, register and validate their policies as well as make claims via Pulse by Prudential healthcare app. During the registration process, customers will be required to fill in their personal data and choose the period of participation, contribution and insurance benefits.

Indonesia’s high internet penetration rate offers huge opportunities for the insurance industry, with more than 70 per cent (~205 million people) of the total population in Indonesia being internet users1 as of January 2022. Of this group, more than 95 per cent (~195 million people) surf the internet on their smartphones.

Mr Henry Choi, Consumer Banking Director, UOB Indonesia, said, “UOB Indonesia’s partnership with Prudential Indonesia is a testament to our commitment to serve the needs of tech-savvy millennial and Gen Z customers. Through TMRW, they can apply for PRUTect Care. Going forward, we will continue to strengthen our partnerships with various parties, while raising public awareness on the importance of having insurance as a way to mitigate risk and protect lives for a better future. We hope to help Indonesia's young generation meet their financial goals and support them in building a better tomorrow.”

Ms Ivy Widjaja, Chief Partnership Distribution Officer, Prudential Indonesia said, “Prudential Indonesia continues to expand its access to protection for the community through product and service innovations, as well as continuous partnerships, one of which is with UOB Indonesia. As a life insurance company that has been trusted for 27 years, Prudential Indonesia is also supported by strong fundamentals through claims payments and benefits of IDR4.3 trillion in the first quarter of 2022. Through this collaboration, we hope to provide access to health and financial protections to more Indonesians, particularly, millennials and gen Z who are the main users of the TMRW app from UOB.”

Mr Bondan Margono, VP, Head of Product Development, Prudential Syariah, said, “PRUTect Care provides an easy, simple and affordable protection solution for insured participants according to the selected contract period. PRUTect Care provides Death Benefits due to Accidents and Infectious Diseases (including COVID-19), Total Disability Benefits due to Accidents, Daily Hospital Care and ICU Care Benefits, as well as Critical Diagnosis Benefits.”

TMRW by UOB was launched in Indonesia in 2020, and has since been active in reaching the millennial generation, building a digital ecosystem through its various features to meet the needs of its customers. Through its continual efforts in providing a better digital experience for customers, TMRW was recently named Most Innovative Digital Bank and Best Mobile Banking Application in 2022 by International Finance; Best Digital Bank in Indonesia by Alpha Southeast Asia for three consecutive years (2020 – 2022); Global Top 100 Digital Bank 2022 by The Asian Banker; 1 st in Customer Satisfaction, Loyalty and Engagement Award in 2022 by Infobank; Best Digital Bank for Customer Experience and Best Digital Bank for Millenials in 2021 by The Digital Banker; Best Digital Bank in Indonesia 2021 by Global Finance; and Best Digital Credit Card 2021 by MasterCard.