What Need Does It Serve?
Prudential Financial offers a wide array of financial products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services
Its end users include:
Retail CustomersHigh Net Worth IndividualsSmall to medium businesses,Institutional InvestorsCorporates
What Are The Alternatives?
Prudential Financial business model faces stiff challenges and competition from offerings by its global competitors such as:
AIGMetLifeNew York LifeHIGAXA US
Has 5 operating segments?
U.S Workspace Solutions: This could be divided into two units –
U.S Group Insurance: Provides a full range of group life, long-term and short-term group disability, long-term care, and group corporate, bank- and trust-owned life insurance in the U.S.
U.S Retirement Solutions: Offers retirement income products and services to employers who set up retirement plans like the 401(k) for the benefit of their employees.
U.S Individual Solutions: This could be further divided into two sub-divisions –
U.S Individual Annuities: Offers variable and fixed annuity products to individual customers across the U.S., targeting mass affluent customers, with household income over $100,000
U.S Life Insurance: It provides individual variable life, term life and universal life insurance products primarily to the U.S. mass middle, mass affluent and affluent markets.
International Insurance: Provides individual life insurance, retirement and related products to the mass affluent and affluent markets in Japan, Korea and other countries
Global Investment Management: This segment provides asset management services related to public and private fixed income, equity, real estate, commercial mortgage, and mutual funds.
Corporate & Closed Block: The Closed Block business represents assets from participating individual life insurance and annuity products. Similarly, corporate operations consist of investment returns on capital not deployed in any business segments, capital debt, corporate-level income etc.
