Welcome to this episode of CIO Talk Network! Today, we’re talking about how Prudential Financial, a company with a 150-year history, has used data and innovation to keep up with changes and continue delivering financial security to millions. We dive into their journey of adapting to new customer needs, market challenges, and technology advancements.

Guest Speaker:

Kjersten Margaret Moody: Chief Data Officer at Prudential Financial. Kjersten shares how Prudential is using data and AI to tackle big challenges in the financial world.

Timestamps:

0:00 - Welcome and introduction
0:07 - Navigating 150 years of change at Prudential Financial
1:02 - Adapting to shifting customer needs and industry challenges
2:01 - How Prudential has embraced innovation and technology
5:00 - Using data and AI to improve customer experience
10:19 - Success story: Cutting down underwriting time from 22 days to 22 seconds
13:00 - How Prudential is turning internal innovation into new business opportunities
15:00 - Balancing data security and privacy with innovation
19:40 - Kjersten’s advice for financial service leaders on using data for growth

Main Discussion Points:

Data-Driven Innovation: How Prudential leverages data and AI to improve its services and stay ahead of the competition.

Transforming Customer Experience: Kjersten explains how data helps them understand and serve their customers better.

AI Success: Prudential’s medical underwriting process was reduced from 22 days to just 22 seconds, thanks to AI.

New Ventures: Prudential is turning its in-house innovations into a new startup focused on financial planning and wellness.

Privacy and Security: How Prudential keeps customer data safe while continuing to innovate.

Key Takeaways:

Aligning Data with Purpose: Kjersten highlights that Prudential’s goal is simple: “To make lives better by solving financial challenges.”

AI Transformation: One of Prudential’s biggest wins is cutting the underwriting process down to 22 seconds from 22 days. Kjersten says, “That’s a game-changer for our industry.”

Collaborative Execution: Prudential focuses on working closely with business teams. As Kjersten puts it, “We do this with you, not to you—it’s all about co-creating solutions.”

Memorable Quotes:

“Our mission is to make lives better by solving financial challenges.”

“We cut our underwriting process from 22 days to just 22 seconds, thanks to AI.”

“We focus on doing things with our business partners, not just for them.”

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