Prudential – Digital Transformation Strategies
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 $1.1 billion for 2021. 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. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers 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.
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 a number of emerging technologies including cloud, big data, and artificial intelligence among others to enhance its operational and service capabilities.
Prudential Technology Theme Focus
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Prudential Technology Initiatives
Prudential has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments over the last few years. For instance, in 2019, the company partnered with Darktrace to enhance its network security against cyber-attacks. Darktrace operates Enterprise Immune System, which provides AI enabled network security against cyber-attacks. The partnership enables Prudential to support its security operations centers, identify unusual activity on computer networks, and proactively respond to potential malware and hacking threats.
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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
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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
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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
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Prudential Digital Transformation Strategies Overview
| Total ICT Spending 2021 | $1.1 billion |
| 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 | Cloud, Big Data, and Artificial Intelligence |
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.
Key Players
Table of Contents
Frequently Asked Questions
The annual ICT spending of Prudential was estimated at $1.1 billion in 2021.
The key ICT spending categories by function for Prudential are communications, data center, network, applications, end-user computing, ICT service desk, and management.
The key ICT spending categories by channel for Prudential are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
The key external ICT spending categories by segment for Prudential are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
The key technological theme in focus for Prudential are cloud, big data, and artificial intelligence.
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