NEWARK, N.J., June 24, 2020 - Prudential1 (NYSE: PRU), a leading provider of financial wellness education and tools, and Welltok, the consumer activation solutions company, are partnering to provide employers with the integrated well-being approach they desire. Prudential’s financial wellness content, tools and access to its solutions will be delivered within Welltok’s total well-being solution.
Large employers nationwide work with Welltok to support healthy and productive workforces, which is more essential than ever. The company successfully drives action by providing a single destination for employees and dependents to access highly relevant programs, resources, benefits and incentives. Welltok uses data insights and advanced personalization to help their clients’ employees achieve personal improvement in five key areas: physical, financial, mental, social and purpose.
Solutions and tools provided by Prudential via Welltok—such as those that manage day-to-day finances, setting and achieving financial goals and protecting against key money risks—help drive financial behavior changes that will carry over to employees’ lives as a whole. For those who want additional help, Welltok will connect them to Prudential solutions that can help their financial security.
“Employees and their families don’t separate their health and happiness from their financial lives. That’s why Prudential prioritized offering an integrated health and wealth solution for our clients,” said Jake Biscoglio, vice president of Strategic Growth Initiatives & Partnerships at Prudential. “Many programs focus on only one aspect of wellness, but Welltok has bundled holistic well-being solutions we know are essential to driving behavior change.”
Employers are increasingly recognizing the connection between their employees’ financial and physical health. A third of Americans say their lack of money prevents them from living a healthy lifestyle2 and 65% are not prepared for a financial emergency.3 Those who experience debt-related stress have more serious health problems, including ulcers, migraines and heart attacks. These connections are exacerbated during times of crisis like the COVID-19 pandemic.
“Welltok has long understood the importance of financial well-being: If people are not financially secure, their mental, physical and social health are negatively impacted. We are excited to be partnering with Prudential to offer best-in-class financial resources that will support a critical need,” said Bob Fabbio, Welltok’s CEO. “In fact, some of our employer clients are already effectively using Prudential’s timely content and tools to help their employees manage finances during the COVID-19 crisis.”
About Welltok, Inc.
Welltok is an award-winning consumer activation solutions company that improves people’s total well-being. Only Welltok leverages proprietary data and advanced analytics to engage consumers in personalized and rewarding ways to drive action. Our solutions integrate data-driven SaaS software, curated resources and professional services to help health plans, self-funded employers and hospital systems support healthier, happier populations. Follow us on Twitter @Welltok.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager with more than $1 trillion in assets under management as of March 31, 2020, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.
1 Financial wellness content, tools and solutions are provided through Prudential Workplace Solutions Group Services, LLC (“PWSGS”). PWSGS is a subsidiary of Prudential Financial, Inc. PWSGS is not a licensed insurance company, does not provide insurance products or services, and does not provide investment or other advice.
2 Stanford Center on Longevity, “The Sightlines Project: Seeing Our Way to Living Long, Living Well in 21st Century America,” 2016.
3 Prudential, 2017 Financial Wellness Study.