Prudential Assurance Company Singapore (Pte) Limited (“Prudential Singapore”), one of Singapore’s leading life insurers has introduced a new financial literacy programme to primary school children in Singapore. Based on the first-of-its-kind animated musical edutainment series Cha-Ching, which was launched regionally last September, the interactive series aim to introduce money-smart values to children between the ages of seven and 12 in a fun and interactive manner.
At the heart of Cha-Ching is a series of animated musical cartoons focused on financial literacy. Four fundamental money management concepts – Earn, Spend, Save and Donate – are made relevant to kids through the Cha-Ching band, which is made up of six characters, each having a different approach to money management. To develop this, Prudential worked closely with different experts including renowned children’s education specialist Dr. Alice Wilder as well as Cartoon Network, the region’s number one channel for kids. The programme uses an ‘edutainment approach’ to build children’s understanding of the four fundamental money management pillars. The episodes started airing on Cartoon Network last September in seven markets (Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). There is also an interactive website with extensive digital resources for parents, children and educators.
Based on the core theme, characters and concepts of Cha-Ching, The Cha Ching Singapore School Tour empowers children to take charge and make independent financial decisions as they play a fun-filled and educational game on a life-size game board.
“As a leader in the insurance industry, it is important for us to help encourage and develop financial literacy for children in Singapore. Designed with the Cha-Ching theme and concepts, which have been well received since its launch last year, our new interactive programme aims to impart essential money-smart values to children in a fun yet accessible manner,” said Kevin Holmgren, Chief Executive Officer, Prudential Singapore.
According to a survey that Prudential initiated across seven markets (Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam) to understand Asian parents’ perspectives on their children’s money management skills, 96 per cent of kids receive regular pocket money. However, few parents (13 per cent) believe their children possess good money management skills, although 95 per cent regionally think it is important to learn them. The survey also found that just around half of parents (44 per cent) feel their children are saving only because they had told them to. Only 8 per cent of parents think their kids are keeping track of their spending. Although parents believe their kids understand money has to be earned (93 per cent), they also say their kids would just ask for more money when they need it (58 per cent).
“There is a definite need to enhance the levels of financial literacy in Asia. We hope to inculcate important financial concepts in children by igniting their natural love of play with highly interactive games and animation,” added Mr. Holmgren.
Prudential Singapore has always been committed to Corporate Social Responsibility efforts. The company promoted financial literacy for children through a Know Your Numbers programme held in 2010 and 2011. It has also been actively participating in The Boys’ Brigade Share-a-Gift charity drive since 2009. In 2011, as part of its 80th Anniversary activities, the company supported the National Cancer Centre Singapore’s cancer research efforts with almost $280,000, raised through the Prudential Golf Charity as well as the Prudential Carnival. Furthermore, the company also donated $200,000 to sponsor scholarships for Singapore Management University and Nanyang Technological University.
ABOUT Prudential Assurance Company Singapore (Pte) Limited (Prudential Singapore)
About Prudential
Prudential Singapore, an indirect wholly-owned subsidiary of UK-based Prudential plc, is one of the top life insurance companies in Singapore. We are one of the market leaders in investment-linked plans with over S$7.5 billion funds managed under PruLink funds as at 30 June 2012. With a rich history that has spanned more than 80 years, Prudential Singapore now has a dedicated team of approximately 3,100 financial consultants and over 700 employees. We are committed to serving the needs of more than 710,000 policyholders with over 1.7 million policies.
Prudential Singapore is the first life insurer in Singapore to be named Asia’s Life Insurance Company of the Year in 2000. We were also presented with the Gold Award in Reader’s Digest Trusted Brands for five consecutive years from 2007 to 2011 and the May Day Model Partnership Award in 2009. In 2010, we emerged as one of the top insurers in Singapore in the Customer Satisfaction Index, which is a national barometer that tracks 104 companies from eight sectors. The company was also conferred the People Developer Award in 2012 by SPRING Singapore for the company’s efforts in training and developing its staff