Rapid growth in personal wealth in Asia has coincided with a greater responsibility for individuals to provide for their own retirement and healthcare. In support, Prudential Corporation Asia devises and implements a series of 'Investing in Your Future' seminars and Insurance Education Programmes to promote financial literacy across Asia.
Investing in Your Future
The 'Investing in Your Future' seminars target young working women, who are often responsible for their household's finances yet typically have fewer opportunities than men to learn the principles of sound money management.
- The seminars are delivered by Prudential's female employees, who teach the basics of financial planning and highlight the key issues involved in making sound financial decisions for different life stages - from living as an independent single woman, to marriage, planning for a child's education and saving for retirement.
- Prudential began the seminars in China in 2004 and has since expanded the programme to Vietnam, India and Indonesia. Over 24,000 working women have benefited from these seminars.
Insurance Education Programmes
Since 2006 the Chinese government has been actively promoting financial education in China, with a focus on insurance. One of the key initiatives has been to introduce insurance education programmes to schools and universities. Currently there are only 50 universities in China offering insurance courses, and there are fewer than 2,000 insurance graduates each year. In 2007, with the support of the Ministry of Education, Prudential partnered with the Chinese Insurance Regulatory Commission (CIRC) and the Chinese Academy of Social Science (CASS) to develop and introduce an insurance education course for schools across the country. Together Prudential compiled educational materials and course books and the first pilot classes were officially launched in September 2007 across 15 schools in Beijing, Dalian, Fujian and Sichuan. Today, over 6,000 students from 26 schools in 7 provinces reached since launched in 2007 in China.