Prudential Launches New Research that Underscores Critical Role of Technology in Improving Healthcare in Asia
- 81% of respondents say technology has improved their access to health services
- 71% believe that in the future they will be more reliant on technology to improve their personal health and wellbeing
- Prudential’s new Asia-wide study recommends increased public-private co-operation to maximise the benefits of digital health technologies
HONG KONG SAR – Media OutReach – 11 January 2021 – Prudential Corporation Asia (Prudential) today released The Pulse of Asia — The Health of Asia Barometer, a report written by The Economist Intelligence Unit (EIU), which underscores the unprecedented opportunity offered by digital health technologies to improve access to healthcare in Asia.
The research, which explores attitudes to healthcare in Asia, highlights the demand for tools and services to help people in the region better navigate the healthcare system. It also highlights the opportunity for governments to partner with the private sector to maximise the potential of digital healthcare.
High rates of digital health technology adoption
The report, which surveyed 5,000 adults across 13 markets in Asia, found that only around half of respondents (54%) believe that medical care is accessible and affordable. More concerningly, less than a quarter (22%) say they can easily access exercise and fitness facilities that would help improve their personal health and wellness in the coming year.
However, the Asia-wide research also underlines the potential of technology to directly combat these challenges. Over four fifths (81%) of respondents say technology has already improved their access to health services and nearly two thirds (60%) believe it has improved the affordability.
And this consumer appetite towards the digitisation of health shows no sign of abating – three years from now 71% of those surveyed said they will rely on technology even more heavily to improve their personal health and wellbeing.
Public-private action to improve healthcare
To fulfil the potential of digital healthcare, the report recommends greater public-private collaboration, suggesting that governments partner with private companies to deliver digitally-innovative ways to promote and manage health and wellness among citizens.
The report also highlights the opportunity for governments to improve public health information through digital channels. According to the research, social media is the most frequently cited source of personal health and wellness information. However, the survey respondents overwhelmingly agreed that the most trustworthy sources are national government and public health authorities. Governments can seize the opportunity by becoming the most reliable source of quality health information for citizens.
The report also recommends that governments look to promote connected health devices, but that these need to be underpinned by strict data governance. Data security will enable health data to be safely centralised, empowering governments to design better policies and build more targeted healthcare infrastructure.
Nic Nicandrou, Chief Executive of Prudential Corporation Asia, commented, “This ground-breaking research demonstrates that while Asia has already begun to embrace digital health technologies, the region is still some way from realising the full potential technology has to offer. The private and public sectors need to come together to make these opportunities a reality, and in doing so, improve health and wellness outcomes for individuals.
“Making digital healthcare a reality is an integral part of our efforts at Prudential. Through our app, Pulse by Prudential, we have linked up with partners at the forefront of innovation to deliver health information and guidance, as well as provide access to medical professionals. Our goal in doing this is to enable people to live well, for longer.”
Charles Ross, Editorial Director from the EIU, commented, “Our research shows that to make health and wellbeing more accessible and affordable, the public and private sectors need to come together to seize the initiative. A key way to do this is by breaking down ‘data silos’ between disparate healthcare services and creating secure connections between health apps, devices and centralised digital patient records.”
About Pulse of Asia – Health of Asia Barometer
Prudential commissioned the new Pulse of Asia – Health of Asia Barometer report to highlight the challenges people in the region face in improving their health and wellbeing. It is based on a survey of 5,000 people from 13 countries and territories in Asia — Cambodia, China, Hong Kong SAR, India, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Respondents range from 21 to 55 years old and cross income groups.
The full report can be accessed at pulseofasia.economist.com
About Prudential Corporation Asia
Prudential Corporation Asia (Prudential) is a business unit of Prudential plc*, comprising its life insurance operations in Asia and Africa, as well as its asset management business, Eastspring Investments. Headquartered in Hong Kong, Prudential helps people get the most out of life through savings, protection and investment solutions that meet their diverse and evolving needs.
Prudential is a leading life insurer with operations spanning 13 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and Vietnam. In Africa, Prudential has a presence in eight markets, covering Cameroon, Cote d’Ivoire, Ghana, Kenya, Nigeria, Togo, Uganda and Zambia. With a robust multi-channel distribution platform, Prudential delivers comprehensive and innovative solutions to more than 16 million customers across the two continents.
Eastspring Investments manages investments in Asia on behalf of a wide range of retail and institutional investors. It is a leading Asia-based asset manager with on-the-ground presence in 11 major Asian markets as well as distribution offices in North America and Europe. It has US$220 billion in assets under management (as at 30 June 2020), managing funds across a range of asset classes including equities and fixed income.
In line with the company’s mission to make healthcare affordable and accessible for all, ‘Pulse by Prudential‘ (Pulse) was first introduced in Malaysia in August 2019. Today, Pulse is available in 12 markets across Asia and Africa. The app uses AI-powered self-help tools and real-time information to serve as a 24/7 health and wellness partner to users, helping them prevent, postpone, and protect against the onset of diseases. As at January 2021, the app has been downloaded more than 16 million times in Asia. For more information on Pulse: www.wedopulse.com.
* Prudential plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N). It is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States nor with The Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.