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Manulife launches Vitality in Canada

Press Release   •   Sep 29, 2016 12:23 GMT

Applying Discovery’s Shared-Value Insurance model to encourage healthier living

Manulife Canada has announced the introduction of “life insurance for the living” with the launch of Manulife Vitality, a programme which will reward Canadians for living a healthy life. Manulife Financial Corporation is a leading international financial services organisation which operates as John Hancock in the United States, and Manulife elsewhere.

Marianne Harrison, President and CEO of Manulife Canada commenting on the introduction of Vitality into Canada said: “Manulife is now actively partnering with customers who want to achieve physical and financial health and overall wellbeing.”

Since announcing its partnership with Vitality in April 2015 to deliver a comprehensive healthy living program for U.S. consumers, John Hancock has already received numerous awards.

Harrison added that “John Hancock Vitality has very quickly become a material piece of our new business in the United States. It is being selected on all of our different insurance products and it is appealing across all customer segments – from young families to retirees.”

Chief Executive of Discovery Limited Adrian Gore said, “The launch of Manulife Canada represents an exciting addition to the Global Vitality Network, which is now a powerful collection of respected insurers employing the Vitality business model in 14 countries worldwide.”

Discovery’s Shared-Value Insurance model is based on the combination of engaging policyholders and incentivising them to manage their health, and dynamically pricing their behaviour into the cost of insurance.

“The insurance industry has a unique role to play in promoting better societal health. Expanding the reach of Vitality through leading insurance partners such as Manulife enhances our ability to positively impact the lives of millions of people around the globe by improving their health,” added Gore.

Manulife Vitality integrates with a variety of wearable technology to encourage members to monitor their activity and progress, and also offers customers the option of purchasing a subsidised gym membership at GoodLife Fitness /Énergie Cardio.

The introduction of Vitality in Canada builds on Manulife’s global health and wealth strategy to reward customers for living a healthier life.

About Manulife

Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. Operating as John Hancock in the United States, and Manulife elsewhere, the company provides financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end of 2015, Manulife had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of June 2016, Manulife had $934 billion (US$718 billion) in assets under management and administration, and in the previous 12 months it made more than $25.4 billion in benefits, interest and other payments to customers. Manulife’s principal operations are in Asia, Canada and the United States where they have served customers for more than 100 years. With global headquarters in Toronto, Canada, the company trades as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong.  

Discovery information

About Discovery Limited

Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment products and wellness markets. Founded in 1992, Discovery was guided by a clear core purpose – to make people healthier and to enhance and protect their lives. Underpinning this core purpose is the belief that through innovation, Discovery can be a powerful market disruptor.

The company, with headquarters in Johannesburg, South Africa, has expanded its operations globally and currently serves over 5 million clients across South Africa, the United Kingdom, the United States, China, Singapore and Australia. Discovery recently partnered with Generali, a leading insurer in Europe, and has partnered with John Hancock in the US. These new partnerships will bring Discovery’s shared-value business model to protection industries in Europe and the US.

Vitality, Discovery’s wellness programme, is the world’s largest scientific, incentive-based wellness solution for individuals and corporates. The global Vitality membership base now exceeds three million lives in five markets.

Discovery is an authorised financial services provider and trades under the code “DSY” on the Johannesburg Securities Exchange. 

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