Insurance and investments firm Prudential will spend millions boosting its digital presence in the UK, with initiatives including the creation of an online investment platform.
The platform development will cost ‘single digit millions’ as the company aims to “broaden digital capabilities” as part of a wider £100 million investment in revamping the business, the FT writes.
“We have almost no way in which customers can interact with us on a digital basis,” said Jackie Hunt, head of Prudential’s UK and Europe operations
Hunt added: “If you look at money, it is moving onto platforms; it is where customers want to deal with us, it is the way in which our advisors want to deal with us. I do not think we necessarily need to own a platform. We need to have technology and products that can work on various solutions.”
Hunt was speaking as the company announced its half-year results, announcing a 17 percent rise in operating profit to £1.5 billion, compared with the same period last year.
Prudential, which is seven years into a 15-year contract with outsourcing firm Capita, recently rolled out a cloud-based financial planning tool from Anaplan.