Prudential has today, March 30, 2020, announced a cash pay-out to its customers, should they, unfortunately, be diagnosed with Covid-19. This pay-out is intended to help their family manage expenses while they are in recovery. In addition, if a customer is admitted to a hospital with Covid-19, Prudential will provide a daily allowance at no extra cost to the client.
“Covid-19 is impacting everyone and all aspects of our lives. In times of uncertainty, it is important that an insurer delivers on its promises. For nearly two centuries, Prudential has been standing up for clients and communities in good times and bad, and we stand with Uganda in this challenging time”, said Arjun Mallik, Managing Director, Prudential East Africa.
“The Covid-19 cover is applicable to all Prudential clients with a Pru Edusave or Prudential medical card, with in-force policies (up to date premiums). New clients who join within the next 45 days, will also be covered under this scheme. Tests need to be conducted from the ‘Ministry of Health’ approved testing centres,’’ Arjun added.
Al-hajji Kaddunabi Lubega, CEO, Insurance Regulatory Authority (IRA) said: “This is a true exhibition of the ability of life insurance to help protect Ugandans in uncertain times and, as a regulator of the insurance sector, I commend Prudential Uganda for continuing to cover their clients during this pandemic and providing an extra service to Ugandans at no extra cost.”.
Effective immediately, Prudential Uganda is
Irene Mwoyogwona: Beyond the Numbers – How Pride Bank's Award-Winning CFO Combines Profitability and Social Impact- Providing customers, staff, and agents with a range of additional COVID-19 insurance cover at no cost;
- Waiving ‘pandemic’ exclusions written into policy language;
- Simplifying claims procedures and enabling claims to be made via WhatsApp;
- Setting up dedicated claims teams that function even if the physical offices are shut;
- Enabling customers to buy insurance without the need to meet face to face with an agent.
“We shall continue to honour all claims swiftly as we have for nearly two centuries, including during the Spanish Flu epidemic of 1918 which affected a quarter of the world’s population at the time,” Prudential said in a statement.
About Prudential Uganda
Prudential Uganda is a wholly-owned subsidiary of Prudential plc UK, one of the largest and most trusted life insurance companies in the world with 170 years of experience and serving over 20 million customers worldwide in the United Kingdom, United States of America, Asia, and Africa. Prudential plc is listed on the stock exchanges in London, Hong Kong, Singapore and New York.
The company entered Uganda in 2015 after buying the life insurance arm of Goldstar Insurance. Over the last 5 years, premiums written by the company have grown by 9109.2% from UGX392 million in 2015 to UGX36.1 billion at the end of 2019, earning its place among Uganda’s fastest-growing insurance companies.
