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Prudential survey reveals that 83% Hongkongers are prioritising health over wealth amid COVID-19

(17 December 2020, Hong Kong) Prudential Hong Kong Limited (“Prudential”) today released the findings of the “Prudential Hong Kong Smart Health COVID-19 Study 2020”^{^}, which revealed that while more people have prioritised health over wealth due to the pandemic, their health behaviours and the significant protection gap in Hong Kong suggest otherwise. However, with the increasing acceptance of digital solutions, all-in-one digital health management tools could play a role in bridging these gaps.

Health behaviours of Hong Kongers do not live up to their aspiration
While 83% of respondents are now prioritising health over wealth as opposed to just 60% in the pre-COVID period, Hongkongers’ health behaviours do not live up to their aspiration. 88% of respondents do not have enough exercise according to global guidelines^[1], while 21% said they do not exercise at all. Additionally, the top five stress relievers for the pandemic are watching drama series/movies (41%), sleeping (41%), exercising (33%), eating and drinking (32%), and playing online games/web-surfing (32%), most of which are inert activities.

The study has also found that Hongkongers have minimised or avoided physical visits for medical services during the pandemic, including dental treatment services (57%), medical consultation - Western Medicine (50%), Traditional Chinese Medicine (43%), and physiotherapy (43%).

On the other hand, only 18% of respondents believed that they are sufficiently insured and only 14% believed they have sufficient emergency funds (e.g., savings or insurance) for medical needs, indicating that a huge protection gap still exists in the market.

“While the pandemic has prompted people to focus more on health, many of us tend not to take action until it is too late. By leveraging health technology, we want to partner with everyone in their health journey to prevent, postpone and protect against the onset of diseases which are often linked to lifestyle choices,” said Priscilla Ng, Chief Customer and Marketing Officer, Prudential.

Significant increase in digital adoption and increase in telemedicine services
The pandemic has led to a significant increase in digital adoption. There is a surge in the usage of digital solutions especially for online classes (70%), online shopping (65%) and online food delivery services (60%).

Many Hongkongers’ are also using digital health management apps, with the most popular being exercise trackers (50%), yoga/ home work out apps (38%), and heartbeat/pulse rate monitor (31%). 41% of non-users are interested in using one-stop health apps in the future.

There is also a growing interest among respondents to explore telemedicine services, citing appointment booking, virtual queuing and payment (75%), prescribed medicine delivery (69%), virus testing (63%), follow-up consultation (54%), and online/remote Western Medicine consultation (51%) as the most popular services.

Priscilla Ng, Chief Customer and Marketing Officer, Prudential said, “We see a trend towards a preference for holistic digital health solutions in the market. An indicator of this trend is the rising interest in Pulse by Prudential, an all-in-one AI-powered digital health app. Since its launch in March 2020, Pulse have already recorded over 500,000 downloads in Hong Kong.”

“Pulse is an evolving digital ecosystem with many value-added features and services in the pipeline to encourage a more proactive approach about preventative healthcare. Our goal is to make healthcare more affordable and accessible for everyone.” Ng added.

^[1]According to the World Health Organization, adults should do at least 150 minutes of moderate-intensity aerobic physical activity throughout the week.

^{^} Independently conducted by Hong Kong Productivity Council and sponsored by Prudential, the survey aims at studying how the pandemic has affected the health and wellness of Hong Kong citizens, and how it has changed the people’s lifestyle, as well as their attitudes towards health management and digital application. 1,500 Hong Kong citizens aged between 20 and 54 were interviewed via an online questionnaire in November – December 2020.

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Prudential Hong Kong Smart Health Covid 19 Study

Priscilla Ng, Chief Customer and Marketing Officer, Prudential, attended “Prudential Hong Kong Smart Health COVID-19 Study 2020” Findings Announcement Media Webcast hosted by Hong Kong Productivity Council today. The study revealed that 46% of non-users are interested in using one-stop health apps in the future.

The study has found that 83% of Hongkongers perceived health to be more important than wealth during the pandemic. The increase from 61% in pre-COVID times is an indication of Hongkongers’ heightened concern about health.

About Prudential

Prudential has been serving the people of Hong Kong since 1964. Through Prudential Hong Kong Limited and Prudential General Insurance Hong Kong Limited, we provide a range of financial planning services and products including individual life insurance, investment-linked insurance, retirement solutions, health and medical protection, general insurance and employee benefits.

Prudential plc is an Asia-led portfolio of businesses focused on structural growth markets. The business helps people get the most out of life through life and health insurance, and retirement and asset management solutions. Prudential plc has 20 million customers and is listed on stock exchanges in London, Hong Kong, Singapore and New York.

Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

Please visit www.prudential.com.hk for more information.