26 years after laying its first bricks in Vietnam, Prudential is marking more than just numbers. Instead, the life insurer opens a multi-layered conversation: about trust, sustainable investment, and legacy for the next generation.
In a special episode of the Vietnam Innovators Digest podcast, part of an event hosted by Vietcetera CEO Hao Tran, three senior leaders of Prudential Vietnam shared their vision for the future of finance, the role of life insurance, and the mission "We provide Peace of Mind to every Vietnamese family". The conversation revolved around the newly launched unit-linked product PRU-Đầu Tư Vững Tiến, while also offering a broader reflection: from the industry’s current challenges, the rise of the middle class, to the growing relevance of sustainable investing.
Reframe financial protection with relevant and practical solutions
In 1999, Prudential laid its foundation in Vietnam. More than two decades later, the company has become one of the Group’s five key global markets, with more than USD 1 billion in investments and nearly VND 200 trillion in assets under management.
“The market is at an inflection point. After years of turbulence, the most important priority now is to restore customer trust,” said Kevin Kwon, CEO of Prudential Vietnam. According to him, trust can be summed up in a simple formula: Trust = Sales Quality x Service Quality. When both are strengthened, customers will feel more secure choosing life insurance.
Beyond service quality, Prudential is shaping the future through product innovation, aiming to help Vietnamese families close the protection gap, the widening divide between rising incomes and adequate financial security. ‘Our goal is to provide practical solutions that address real needs and help customers close the gap, while keeping innovation simple and accessible for everyone,’ Kevin added.
Digital transformation is another critical driver. Technology is not just for operational efficiency, but more importantly, to help customers make faster, more transparent decisions. Prudential aspires to be both a technology-enabled and human-centered financial partner.
Long-Term Commitments: “Every Premium Invested Back Into Vietnam’s Future”
If Kevin represents the company’s future outlook, Conor M O’Neill – CFO of Prudential Vietnam – underpins this mission with the financial muscle and disciplined stability of a Group that has been operating for 175 years. Conor affirmed that Vietnam is a must-win market for Prudential, and one of its top five markets globally.
This commitment is demonstrated through its financial stability and scale. Prudential has invested over $1 billion in shareholder assets in Vietnam, giving it the most shareholder assets of any insurance company in the marketplace. This capital base ensures robust solvency, with the company holding double the capital required by the regulator to manage risks. This strength translates directly to fulfilling promises: Conor highlighted that one in four dong paid by the industry in claims is from Prudential, demonstrating the company’s ability to pay out on time.
Beyond shareholder capital, the company manages nearly 200 trillion VND (approximately $8 billion USD) in total invested assets, including customer premiums. Conor stressed that this money is not merely held, but reinvested back into the future of Vietnam. These funds are managed by Eastspring Investments Vietnam (Eastspring) using the same strict investment discipline employed across Prudential’s global portfolio.
From equities and corporate bonds to infrastructure and green energy, these investments are designed for the long term. “Every premium paid by our customers is reinvested into Vietnam’s own development,” Conor emphasized.
The Rise Of The Middle Class
From a customer perspective, Manish Gurbuxani – Interim Chief Customer & Marketing Officer of Vietnam – painted a picture filled with numbers.
In 2023, only 13% of Vietnam’s population belonged to the middle class. By 2026, that figure is expected to double to 26%. And by 2030, the middle class is projected to account for 55% of the population – about 50 million people.
Alongside, disposable income is forecasted to grow 8–10% annually, fueling demand in education, retirement, healthcare, and intergenerational wealth transfer. Yet fewer than 10% of Vietnamese are participating in financial investment products. The majority of assets remain concentrated in gold and real estate.
“This creates an opportunity for life insurance, particularly unit-linked product, to become a solution that combines protection, investment, and sustainable wealth transfer,” Manish observed.
Manish also highlighted three shifts in customer behavior:
- Human connection remains core: Even with advances in technology and AI, Vietnamese customers still want direct human interaction for major financial decisions. They value digital convenience but also seek the reassurance of “human touch.”
- Value over price: Customers prefer flexible, all-in-one solutions, combining protection, investment, health, and critical illness coverage rather than choosing based on price alone.
- Responsible investing matters: More and more customers are asking where their money is being invested, and whether it contributes to sustainability and a greener economy.
Among key customer groups, Gen Z those under 28 stand out. They are both demanding and endearing: expecting transparency, personalization, and speed, but at the same time driving businesses to innovate.
Prudential has already adopted new technologies such as eKYC, digital signatures, AI-powered customer service, chatbots, and cashless claims processes. Yet, as Manish emphasized, technology is only part of the story: “Gen Z still needs human connection, because long-term financial decisions are not just about numbers, they are about trust.”
Bridging Past And Future, provide “Peace Of Mind” to every Vietnamese family
Alongside delivering customer returns, Prudential is also pioneering sustainable investment in Vietnam.
Last year, the company launched the PRULink Tương Lai Xanh, the first green investment fund in the local life insurance industry. Within just over a year, the fund has already outperformed market benchmarks.
Prudential is also among the partners of the USD 15 billion Just Energy Transition Partnership (JETP), supporting Vietnam’s renewable energy ambitions. “We want to invest in projects that will endure for 20–30 years, from the Hanoi–Ho Chi Minh City high-speed rail to clean energy and digital infrastructure,” Conor noted.
This philosophy underpins the launch of the unit-linked product, a "one-stop shop" solution, delivered through four core value propositions:
- Responsible and trusted investment
- Opportunity to accumulate assets effectively
- Comprehensive protection
- The privilege of passing on accumulated value
“As customers pay their premiums, we want them to not only see personal benefits but also feel proud that they are investing in the future of Vietnam,” Conor concluded.
After more than two decades, Prudential is no longer “the new player” in Vietnam, but part of the nation’s socio-economic journey.
By combining trust, innovation, and sustainability, the life insurer continues to reaffirm its mission: We provide Peace of Mind to every Vietnamese family.