John Hancock Leaves Traditional Life Insurance Model Behind to Incentivize Longer, Healthier Lives
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: PR Newswire
BOSTON, Sept. 19, 2018 /PRNewswire/ -- Starting today, in a departure from the traditional life insurance business model, all John Hancock life insurance policies will come with Vitality – a behavior change platform that rewards customers for the everyday steps they take to live longer, healthier lives. Built on the convergence of behavioral economics and consumer technology, John Hancock Vitality policies incentivize healthier choices linked to physical activity, nutrition and mindfulness."For centuries, the insurance model has primarily provided financial protection for families after death, without enhancing the very quality it hinges on: life," said Marianne Harrison, John Hancock president and CEO. "We fundamentally believe life insurers should care about how long and well their customers live. With this decision, we are proud to become the only U.S. life insurance company to fully embrace behavioral-based wellness and leave the old way of doing business behind."The time for chan
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