first_img Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Our 6 ‘Best Buys Now’ Shares christopherruane has no position in any of the shares mentioned. The Motley Fool UK has recommended Prudential. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “The Man from the Pru” was a much-loved British advertising campaign. But these days the fortunes of Prudential (LSE: PRU) are driven by business in Asia, which can be delivered by an app as easily as a doorstep representative. The Prudential share price has increased just over 100% in the past year. But I think the company’s strategic focus could help move it higher yet.Not the old PrudentialThe image of the Prudential as an old school British insurer has now fallen far from the reality, in my view. It has been refocusing its business for years. First it spun off M&G. It is currently offloading its US business, Jackson.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…That will leave the business mostly focussed on two high-growth regions. The company talks about its African plans, but it is the Asian business that I find more attractive. Asia is home to billions of consumers in in markets like China and Vietnam. Many are rapidly progressing into the middle classes, with more disposable income. That isn’t guaranteed, though: many Asian economies have stuttered from the pandemic. A slow recovery could hurt the Prudential share price.Digital impact on the Prudential share priceA lot of the life insurance business is unchanged since the nineteenth century when Prudential was founded. A representative meets with a customer, assesses their needs and recommends a policy. Typically a monthly premium will provide insurance.The consumer needs have remained similar and I expect them to endure. For example, a new parent decides to take out life insurance to protect their family in case an unforeseen accident leaves them without a breadwinner.But for these straightforward, standardized policies, the cost of an army of field sales agents can reduce profitability. Many digital native consumers would be happy to research and purchase life insurance online, for example through an app. Reducing the sales cost of such policies could help an insurer’s profitability.Prudential is focused on this approach, with its own Pulse app now helping it grow in fifteen Asian markets. By last month, the app had reached over 20m installations. The company already reckons it is converting new customers, with over 1.5m customers accessing one of its services through Pulse.I think the basic need for financial products such as life insurance will endure. But if consumer attitudes change – for example, due to falling birthrates – Prudential and other insurers could face a shrinking market.Double tailwindsI like the simplicity of the growth story for Prudential in Asia. It can grow in two ways, in my view.First, by focusing on growing markets like southeast Asia, the company has positioned itself to ride growth in markets without having to help create it. Such growth could be good for the Prudential share price.Secondly, by increasing the share of business transacted and managed digitally, the company should be able to reduce costs. That could be good for profits. However, competitors will also want to use digital channels, which could lead to downward pricing pressure rather than a simple translation of cost savings into profits. Get the full details on this £5 stock now – while your report is free. FREE REPORT: Why this £5 stock could be set to surge The Prudential share price has doubled. I think it could still go higher I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.center_img Image source: Getty Images. Enter Your Email Address Simply click below to discover how you can take advantage of this. Christopher Ruane | Saturday, 20th March, 2021 | More on: PRU Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Christopher Ruanelast_img read more