Pru Life UK partners with HMOs on group insurance
PRU LIFE UK has launched a group insurance package for employees of businesses that have tapped Intellicare and Avega as their health maintenance organizations (HMO).
“We saw here was an opportunity for us to link up with an HMO to provide health insurance as well as adequate life insurance coverage for employees working in the Philippines,” Pru Life UK President and CEO Antonio G. De Rosas said in an online briefing on Monday.
Existing and new business clients of Intellicare and Avega can avail of the Pru Life UK group insurance package starting this month. and the contract is renewable yearly, PruLife UK vice-president for enterprise business Marinette S. Jaranilla said in an online briefing.
Employees who will be part of the group insurance package will be eligible to life benefits, burial benefits, terminal illness benefits, accidental death and disablement benefits, and critical illness benefits, said Maria Divina H. Furagganan, Pru Life UK Executive Vice-President and Chief Distribution Officer.
The partnership will also include AstraZeneca Plc, which will provide disease awareness for group insurance package beneficiaries through Pru Life UK’s Pulse app. AstraZeneca will focus on campaigns on lung cancer prevention and management.
Ms. Furagganan said employees covered by the group insurance may check their policies and file their claims through the Pulse app. Through the package, employees will have access to paid subscription to the platform, which includes functions like meal planner, access to health and wealth communities, and an exercise buddy, among others.
Pru Life UK booked the second highest net premiums worth P30.98 billion in the life insurance sector in 2020, based on data from the Insurance Commission.
Its net income of P3.27 billion stood as the fourth biggest in the industry last year, while it ranked fifth in terms of its assets which amounted to P117 billion. — Luz Wendy T. Noble
