Prudential Life Assurance Zambia Partners with OracleMed Health (Pty) Ltd in Historic Virtual Signing

Prudential Life Assurance Zambia Partners with OracleMed Health (Pty) Ltd in Historic Virtual Signing

June 10, 2020

Prudential Life Assurance Zambia and OracleMed Health today announced their partnership to distribute OracleMed Health products in Zambia. By combining Prudential’s globally trusted insurance expertise and best in class distribution with OracleMed’s high-quality service and extensive hospital network, the partnership will provide customers with value-added options for their healthcare needs.

Prudential Africa CEO, Matt Lilley said: “ We are excited to announce our partnership with OracleMed Health, which are leaders in their field. Providing best in class service and products is at the heart of what we do and who we are as an Insurance company. As we are facing an unprecedented health crisis with COVID-19, this partnership has never been more relevant.”

“Primary healthcare, doctor and specialist consultations, X- rays, blood tests and scans are good across Zambia. Trauma and major medical hospital treatment, however, remain a major concern due to limited capacity, no centres of excellence, inconsistent quality of equipment and lack of medical personnel. In many cases, it is safer and less expensive to fly people out of the country,” explains Krishnaswamy Rajagopal, MD Prudential Life Zambia.

“The value of this partnership is three-fold. Most importantly, members have access to treatment offshore― plus members can actually choose where they would like to have said treatment. The limitations of hospital treatment in Zambia mean that people are keen to have quality medical care. This partnership gives members that and so much more,” says David van der Knaap, CEO of OracleMed Health. The company, which was formed in 2001, is responsible for underwriting and claims management and has a 24-hour multilingual medical call centre. “We have access to a Worldwide Network of 3 200 hospitals with claims paid at incurred costs and by direct settlement to the various providers. Benefits include travel and accommodation for the patient together with a third-party accompaniment.

We also cover people when they are travelling outside of Zambia and plans are tailormade to suit the needs of each client,” he adds.

“This partnership brings together two companies that have similar values and shows a commitment to our policyholders and members.. OracleMed offers a $1 Million top up (on our existing ZMK1 Million product) and will allow our members access to quality medical treatment globally,” says Krishnaswamy.

The partnership was created during an unprecedented time with various countries enforcing travel restrictions and limited social contacts as a result of the Coronavirus pandemic therefore, the necessity for a virtual signing was practical. “Understandably, our brokers will play a big role in being educated about the product as we remain innovative during the Covid-19
pandemic, we will be running a digital campaign, so that people know all about the partnership,” remarks Krishnaswamy.

Although the approach to business is slightly different during a global pandemic, traditional values such as strong governance and ethical standards – are what tie the two companies together. “Both insurance and partnerships have trust at their core – and we know that seamless trust in any partnership is a recipe for success,” says Krishnaswamy. Concludes van der Knaap: “Business is all about relationships and through this partnership, we have created a long-term relationship.”

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