SINGAPORE: Insurance company Prudential said on Saturday (May 26) that it is "doing everything possible" to prevent a repeat of the incident on Thursday that saw erroneous deductions being made from policyholders' accounts.

On Thursday, multiple Prudential policyholders approached Channel NewsAsia and took to social media to complain about "unauthorised fund transfers" and deductions of 100 times their premium amounts being made from their bank accounts.



Prudential issued a statement that evening saying that the incident was caused by a "technical error".

All affected accounts were fully refunded within 24 hours, said Prudential Singapore CEO Wilf Blackburn in a letter to customers on Saturday.

"While we cannot undo the anxiety and inconvenience that you must have gone through, we are doing everything possible to make sure this doesn't happen again," Mr Blackburn added.

Mr Blackburn also said that the insurer will be giving S$100 to every customer whose GIRO deduction date fell on May 24 as a "sign of appreciation" for their patience and support.



"We promise to learn from this and to bring you a better experience in the future,"he added.