00:00Career changes are going to occur for the vast majority of people.
00:06And so that is something that young people just need to understand.
00:11The second point I'd make is that careers are never linear.
00:16So even if you do stay in the same company, you may get promoted sometimes.
00:21You may have lateral moves.
00:23That's all OK, because at the end of the day,
00:27when you think about your career,
00:29you are a compilation of your experiences that you had beforehand.
00:35And when you move career or when you move into a new position,
00:40you're bringing all those experiences with you,
00:44which enables you to provide a different perspective than others might.
00:48So what I would say is that one should embrace
00:53career changes or moves within a company.
00:57Because those make you a better employee over the long term
01:02because of the variety of experiences you have.
01:12Prudential has been around for 150 years
01:16and has seen all sorts of different global economic conditions.
01:20It has seen the Great Depression, the Great Recession, two pandemics
01:24and a host of other things.
01:26So we do two things in order to make sure that we are resilient
01:31and we are strong.
01:32First is we always look to our financial strength.
01:36We are an extremely strong company.
01:41We make promises for decades, and clients need to understand
01:46that we will be there for them.
01:48The second point is that we don't react to any particular
01:54economic circumstance because we are looking through the cycle
01:59and we manage through cycle in order to make sure
02:03that we are resilient for the long term.
02:06When I think about resilience,
02:09I think about a number of different components,
02:12the first of which starts with talent.
02:15If you have great talent, if you have great employees,
02:18they, by definition, are resilient.
02:21The second component, though, is do they all believe in a North Star,
02:26which is our purpose?
02:28And if you have talented people that are all going in the same direction,
02:33that helps with resilience.
02:35The third component is, do they understand their role
02:41in the company, in fulfilling our purpose?
02:44And if you have someone that understands their role,
02:46that they come in every day and they know what they're doing,
02:49that will make them resilient.
02:52The fourth component is that the company itself, Prudential,
02:56needs to support our employees,
03:00both in terms of, obviously, financial remuneration, which is table stakes,
03:04but also in terms of their health and their wellness.
03:07And Prudential has extraordinary benefits to support our employees.
03:12You put those four components together.
03:15And when we face something like we did in the pandemic,
03:18where we were one of the first companies to go remote
03:22and we had over 40,000 people in 40 companies go remote within 48 hours,
03:26our employees were knocking down challenges right and left
03:31in order to support our customers.
03:32I couldn't have been more proud of the company and our employees.
03:37And to me, that is the single greatest example of resilience that we have faced.
03:49Some of the biggest challenges that we face today are external
03:53and others are obviously internal.
03:56But I would say that the biggest challenge we face today
04:00is the rate of change that our customers are experiencing,
04:06both in terms of their needs and their desire.
04:10So in terms of their needs,
04:12you think about the aging demographic of our customers.
04:15You think about the different needs they have, the health needs,
04:18the insurance needs, the investment needs.
04:20Those are all changing.
04:22But then you think about the customers and how they are demanding services.
04:27They may want them completely digitally online.
04:30We can do that.
04:31They may want it in a hybrid experience where they start digital
04:34and then talk to one of our advisors.
04:37They may just want to talk to our advisors
04:39or they may want to talk to their own advisor.
04:42And therefore, as we innovate, as we change, as our customers change,
04:47we're also changing the way in which we deliver those products to our customers
04:51in terms of speed, in terms of specificity of product.
04:56And that's where AI, which we've been using for a long time, for 10 years,
05:00and now generative AI, comes into play.
05:04And that's where we're going to be able to deliver those products
05:07a long time, for 10 years, and now generative AI comes into play.
05:12And as an example, if you think about one of our simplified term products,
05:19it used to take 22 days to underwrite, and now it takes a few seconds.
05:24That's the kind of speed and the kind of innovation that's taking place
05:28in the world today, in our industry today, and certainly within Credential.
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