Prudential reorients marketing around AI, data science
Prudential has revamped its marketing organization with the goal of leveraging data science and analytics more effectively.
Naveen Agarwal has been named CMO. He had been chief customer officer, and chose as his replacement Hema Widhani. In her previous role as CMO for digital and customer marketing, Widhani is credited with "applying digital technology and analytics to drive deeper customer engagement and create needs-based solutions for Prudential’s customers."
“By unlocking the potential of data, technology and AI to deliver personalized experiences that are more relevant and timelier than ever before, we will drive deeper relationships with our existing customers and build new ones with people who don’t yet know our story," Agarwal said in a statement.
Reached for comment on specific AI- and data-science-related initiatives that have taken hold at the company, David Goldberg, VP of data anaytics, cited PruFast Track. The accelerated underwriting initiative helps more than 40% of applications get processed faster by leveraging third-party data to supplement application data.
"The future of AI and data science at Prudential is combining the principles that have driven the success of initiatives like PruFast Track to other financial services solutions we offer such as investments and income protection," Goldberg added. "The introduction last year of LINK by Prudential, an interactive, personalized platform has been key to facilitating this transformation by driving deeper customer engagement. The result is not only increasing speed of delivery, but accurately connecting customers with the right solution at the right time in a way that suits their needs."
Assuming responsibility for U.S. businesses is Michelle Crecca, who retains her role as CMO for the company's Workplace Solutions Group.
“Hema and Michelle each possess an incredibly diverse skill set that makes them perfectly suited for this leadership opportunity," Agarwal concluded.