Pru Life UK President and Chief Executive Officer Eng Teng Wong is FinTech Alliance Philippines’ InsurTech Committee Chairman.
Wong will lead the organization’s role in engaging, building and expanding a sustainable digital finance ecosystem. His leadership also aims to push online and digital platforms as a tool to raise awareness about insurance protection and make it more accessible to Filipinos.
“As the current InsurTech Committee Chairman of the FinTech Alliance Philippines, I am excited to spearhead discussions and concerted initiatives that leverage mobile and online apps and platforms to drive up financial/insurance awareness, literacy and inclusion in the country. Across the Philippines, we are digitally empowering over 33,000 Pru Life UK financial advisors to reach and bless more Filipino families,” shares Pru Life UK President & CEO Eng Teng Wong.
Pru Life UK released a commissioned independent policy paper in 2022 called “InsurTech: Driving Broader Insurance Access,” which aims to give a better understanding of how insurtech such as online shopping platforms can be maximized to broaden Filipinos’ access to life and health protection products. The paper was authored by leading law firm Romulo Mabanta Buenaventura Sayoc & de los Angeles. Link to the copy of the paper is here.
Pru Life UK has been recognized as the number one life insurer by the Insurance Commission in terms of New Business Annual Premium Equivalent (NBAPE) for 2020 and 2021 and led in the renewal premium income from variable life insurance products ranking in 2021.
FinTech Alliance Philippines is the country’s leading and largest digital trade organization generating over 90% of digital-initiated transactions in the Philippines today.