Google Cloud and Prudential Plc have announced a partnership to create products for insurance that are powered by artificial intelligence to enhance the customer, agent and employee experience. Part of the collaboration is the establishment of the Prudential AI Lab which will help foster its goal of improving customer service through technology-driven distribution optimization and healthcare accessibility enhancement.
This move is expected to affect 15,000 employees at Prudential who will be equipped with advanced AI tools that can automate their tasks so they can focus on delivering more individualized services.
The AI Lab is set to open later this year and will act as an incubator for generative AI, machine learning and other forms of artificial intelligence within its business operations. The lab acts as a developer space where staff can create scalable applications or product prototypes using various types of AI technologies available today. These new ideas should solve operational challenges related mainly but not limited insurance sector in Africa and Asia among others.
Prudential’s AI lab drives healthcare innovation and streamlines operations
The priority of the AI lab will be to optimize the use of artificial intelligence in ensuring quality healthcare is easily accessible while at the same time improving agents’ capacity to deliver personalized customer experiences. In line with this effort, Prudential seeks to capitalize on data science and other technological advancements to expedite its operations through enhanced analytics. Google Cloud also brings secure generative AI expertise together with end-to-end cloud delivery capabilities required for such an undertaking.
This collaboration sets a precedent for digitizing insurance worldwide by tapping into generative AI’s power for innovation as highlighted by Thomas Kurian who is the CEO of Google Cloud. The organization can now implement more of its ideas regarding artificial intelligence thus opening up new growth frontiers while reshaping how they interact with customers. By seeking operational efficiency gains, the AI Lab intends to simplify processes that serve both policyholders or clients as well as employees and insurance agents.
Anil Wadhwani – the company’s CEO – stressed that collaboration was very important because it would enable Prudential’s employees to be more creative while also increasing the speed they take to put new products into the market, especially in the health insurance industry. Such a move positions this insurer as an organization that can shape the future of insurance, thus adding value across Africa and Asia for its clients.
