Prudential Group Insurance announced yesterday that it would discontinue the sale of dental insurance which the division offers chiefly to the small-group market.
Prudential Group Insurance, a business of Prudential Financial Inc., (NYSE:PRU) Newark, NJ, will continue to service existing clients until their next contract renewal anniversary dates when Prudential will decline to offer a dental insurance renewal, subject to regulatory notice requirements.
The decision to stop offering dental insurance is emblematic of the times. Many large carriers have begun to concentrate on their core strengths while winnowing out more supplementary lines of business in order to focus their efforts and resources on their most profitable and identifiable products. A Prudential spokesman cautioned that they do not have any plans to discontinue other products at this time.
Prudential Group Insurance manufactures and distributes group life, long-term and short-term disability as well as corporate, trust-owned life insurance, accidental death and dismemberment and other coverage and plan administrative services.
The decision to discontinue dental is a tactical one which Prudential hopes to focus on their life and disability products where it sees the greatest opportunity for long-term growth.