As CEO of Prudential Assurance Company Singapore, Dennis Tan, CFP® leverages his vast experience in financial services to drive innovative customer solutions, embracing technology and sustainability in a rapidly evolving insurance industry.
Prudential has brought Tan full-circle from being a seasoned banker to a stalwart of the insurance industry. He joined Prudential in 2020 after 10 years at OCBC Bank. He described his career shift as not so much a move from banking to insurance as the early part of his banking career was focused around bancassurance or, as he calls it, “semi-insurance”. He underscores a deep-rooted commitment to integrating insurance solutions into broader financial planning.
Tan, who is also the managing director of Prudential’s Strategic Business Group, covering Singapore, Thailand and Vietnam, navigates Prudential through these three markets, each presenting unique challenges and opportunities. His approach has been adaptive, combining local insights with global trends to enhance the company’s footprint and service offerings.
Prudential’s presence in these markets has been characterised by significant transformations, especially during the tumultuous times of the COVID-19 pandemic. Tan has steered the company’s focus towards essential health, protection and financial planning, acknowledging the heightened awareness of personal well-being and financial security during the crisis. This shift not only met the immediate needs of customers but also laid the groundwork for building trust and loyalty.
Tan’s focus on empathy, engagement and empowerment has seen Prudential achieve robust growth in challenging conditions. He acknowledged the diverse performance dynamics across the markets he oversees, with each responding differently to economic pressures. Despite these challenges, Prudential has maintained a strong position, thanks to tactical pivots in product offerings and distribution channels, particularly in the health insurance and protection space.
Tan asserted that technology adoption and digital transformation are cornerstones of his blueprint for enhancing customer experience and operational efficiency. Under his guidance, Prudential Singapore has implemented innovative technologies such as a digital instant underwriting engine and an artificial intelligence talkbot to streamline customer interactions and service delivery.
Sustainability and responsible investing are also central to Tan’s vision for Prudential. He emphasised a commitment to steering the company towards practices that align with global environmental, social and governance standards to ensure that Prudential’s business operations contribute positively to wider societal and environmental goals.
Look out for the video interview.
Foo Boon Ping 胡文彬, TAB Global
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