Prudential launches migrant-focused Hong Kong protection plan
SingTao · 2 SOURCESabout 3 hours ago2 MIN
Summary
Prudential has introduced Prudential Select “Hong Kong Settlement Protection” as what it describes as Hong Kong’s first protection plan designed specifically for newly arrived migrants settling in the city. The insurer said the package is intended to help newcomers adapt to life in Hong Kong with cover spanning medical, accident, home, emergency return-home and insured children’s education needs.
Key Points
- Prudential said 94% of surveyed new migrants faced challenges in their early period after moving to Hong Kong, with healthcare support identified as the most urgent need.
- About 80% of respondents bought or were considering insurance for medical and health reasons, while 73% of insured respondents completed enrolment within their first year in Hong Kong.
- Prudential added that 93% of insured respondents took out cover within their first two years after arrival, underscoring what it called pressing demand for protection solutions.
- Customers can add outpatient cover for general practitioner and specialist consultations, prescription drugs and laboratory tests under the new plan
- From September 4 to December 31, applicants for the plan can receive a 50% discount on first-year premiums, plus coupons for selected home, domestic helper and motor insurance products
Why It Matters
Prudential is targeting a fast-acting segment of new arrivals who, by its survey, tend to arrange insurance soon after reaching Hong Kong and place medical protection high on their priority list. The launch also ties insurance sales more closely to settlement-related services through Prudential’s “Pulse for Hong Kong Life” support platform, broadening competition for newcomer customers.