Page 29 - TA2022-Souvenir

Campaign Awards

Gold Award

“The New Oxygen: Digitising, Humanising, Delivering” Special Award
Embracing Bionic Distribution by Blending Human Talent with Excellence in Building Digital Capabilities
Digital Technologies in New Ways
Prudential Hong Kong Limited

Prudential Hong Kong
Prudential has been serving the people of Hong Kong since 1964. Through Prudential Hong Kong Limited and Prudential General Insurance Hong Kong
Limited, it provides a range of financial planning services and products including individual life insurance, investment-linked insurance, retirement
solutions, health and medical protection, general insurance, and employee benefits.
The Challenge
The COVID-19 pandemic has created a new paradigm for insurance agents. Customers have been inspired to focus on the things that truly matter
to them; they want to protect their health and to safeguard their family’s future through simple, needs-based advice presented in an intuitive and
straightforward way.
In complement to traditional face-to-face appointment, digital engagement between insurance agents and their customers has now become a new
normal. Customers are seeking personalized services without the need for in-person meetings. As the sales process became more digitally enabled,
Prudential realized the need to reinvent our existing distribution model so that it involves bionic distribution, blending human talent with digital
technologies in new ways to create fast, intuitive and digitally enabled experiences for the customers.

Our Vision on Bionic Distribution
The bionic distribution model is a game-changer for the industry. Prudential sought to embrace bionic distribution by fundamentally developing the
model in the context of changing customer behaviours and buying patterns. The objective was to build a digitally enabled sales force – adopting artificial
intelligence at scale, personalizing customer offers and interactions, digitally supporting and complementing the sales process, and raising sales force
productivity. Prudential Hong Kong has transformed learning with a focus on digitalization, humanization and delivery. Simply put, Prudential Hong
Kong is enabling our people to empower the customers.
Design and Implementation
“Hothousing” is a form of training that involves intense study of a topic in order to stimulate learners’ mind. The goal is to take normal or bright learners
and boost them to a level of intellectual functioning above the norm. Prudential Hong Kong has created learning experiences with “Human Touch” by
applying such approach in the new 10-part programme, named as “Leading a Futuready Agency”, to sales leaders to show how new ways of working
can be applied to create effective business systems, build compliance capacity, recruit and retain talent. The combination of digital learning, data-driven
coaching, flipped learning and work-based learning makes it easy for the financial consultants to feel confident in adopting new behaviours immediately
in the field.
The programme provided a simple prototype for the sales force to contribute to and to succeed in this new digital paradigm through the “PRUSuccess
Model”, through which Prudential provided analytics and resources to develop the participants’ capabilities throughout the process, in areas from lead
generation and customer engagement to aftersales services. Instead of teaching them new digital tools, the training focused on learners to leverage on
these tools effectively to solve their work issues and to develop new habits.
Achievements
As Prudential embraced bionic distribution, the training programme broke the rule of teaching “soft” and “hard” skills, thereby enhancing the capabilities
of the financial consultants to achieve business and personal success. Among those who have completed the programme:
• Business production increased; participants demonstrated productivity more than twice as high as those who didn’t complete the programme;
• Greater efficiency saw a reduction in operational costs; and
• By engaging customers at the right time, with the right message, in a personalized way, the financial consultants successfully achieved growth in
acquiring new customers.

Comments from Adjudicators
The objectives of the programme were considered as “ambitious goals” that were well-defined and clearly set since its commencement. They were
supported by a well-thought out and a good combination of learning experiences, including digital learning, data-driven coaching, flipped learning and
work-based learning which were innovative to embed changes in sales-force behaviour and their cultures.
The initiatives were complimented for striving a balance between digitalization and human touch; and a great concept to turn sales agents into Learning
Catalysts which enabled sustainable training in strengthening a future ready sales-force. The programme generated impressive business returns for
Prudential Hong Kong; and it also set a benchmark for the industry where the training and development programme contributed positively for its
employees as well as the organization as a whole.

AWARD FOR EXCELLENCE IN TRAINING AND DEVELOPMENT 2021 27
AWARD FOR EXCELLENCE IN TRAINING AND DEVELOPMENT 2022

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Dinner Souvenir Prog 2022.indd 27 10/20/2022 2:47:31 PM