Prudential – Digital Transformation Strategies
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Prudential Digital Transformation Strategies Overview
Prudential has been focusing on using cloud, big data, mobile payments, and artificial intelligence to digitally transform its operations. The annual ICT spending of Prudential was estimated at $145.4 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Prudential is a financial services group that offers long-term savings and protection products. Through its subsidiaries, the group provides retirement benefits and insurance coverage for various risks such as illness, death, and critical life events. It also provides investment solutions across various asset classes, including equities, multi-asset, fixed income, infrastructure, and alternatives.
The ‘Prudential Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerators, incubators, technology centers, technology partnerships, technology introductions, investments, and ICT spending among others.
Total ICT Spending 2023 | $145.4 million |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service Desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | big data, medical IoT, artificial intelligence, and cybersecurity |
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Digital Transformation Strategies
Prudential operates myEastspring, an online platform for its clients to independently monitor, access, and perform online transactions. It also provides online tools for agents to help clients predict their savings needs.
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Prudential Technology Theme Focus
Prudential is utilizing several emerging technologies including artificial intelligence, big data, cybersecurity, and medical IoT among others to enhance its operational and service capabilities.
Prudential Technology Focus
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Prudential Technology Initiatives
Prudential has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, and technology investments over the last few years. For instance, in 2022, the company partnered with digital health company Nervotec to add a new feature called My Pulse Daily. App users can measure vital signs such as heart rate, heart rate variability, respiration rate, and oxygen saturation levels by scanning their faces with a mobile phone.
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Prudential ICT Spend by Function
- Data Center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
Prudential ICT Spend by Function, 2023 (%)
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Prudential ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
Prudential ICT Spend by Channel, 2023 (%)
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Prudential External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
Prudential External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Prudential’s technology activities.
- Insights of its accelerators, incubators, and technology centers.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Prudential’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Mydoc
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Actual Experience
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Prudential in 2023?
The annual ICT spending of Prudential was estimated at $145.4 million in 2023.
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Which function accounted for the highest ICT spending for Prudential in 2023?
Network accounted for the highest ICT spending by function for Prudential in 2023.
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Which channel accounted for the highest ICT spending for Prudential in 2023?
Internal development and maintenance accounted for the highest ICT spending by channel for Prudential in 2023.
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Which segment accounted for the highest external ICT spending for Prudential in 2023?
Software accounted for the highest external ICT spending by segment for Prudential in 2023.
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What are the key technology themes in focus for Prudential?
The key technological themes in focus for Prudential are big data, medical IoT, artificial intelligence, and cybersecurity.
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