Toronto, ON (July 13, 2016) – Sun Life Financial announced a partnership with MaRS Discovery District today focused on collaboration and knowledge sharing with the start-up community as part of Sun Life’s focus on evolving its business model and client focus. Sun Life will join other corporate partners to connect with the start-up community as part of the MaRS fintech and health clusters. MaRS is North America’s largest urban innovation hub.
“At Sun Life, we’re proud of our leadership role in helping to transform our industry through digital and other solutions that respond to our clients’ needs and changing expectations,” said Kevin Dougherty , President, Sun Life Financial Canada. “Our partnership with MaRS will provide unique opportunities to share ideas and collaborate with start-ups on cutting-edge solutions designed to help our clients when it comes to their finances, health and well-being.”
Sun Life plans to leverage connections at MaRS Discovery District to expand the company’s digital innovation agenda, which has already advanced the following accomplishments:
- First real-time decision management technology in the insurance industry – Sun Life’s Digital Benefits Assistant leverages big data and advanced analytics to help group plan members better understand their benefits and pension plans. The program offers real-time, personalized advice that helps plan members achieve financial well-being and security.
- MAX my money@work – a digital enrolment tool that revolutionizes how Canadian plan sponsors handle their fiduciary responsibilities and regularly engage plan members in their workplace retirement and savings plan.
- Workplace Mental Health Risk Assessment – a digital assessment for workplace mental health risks.
- First traditional financial services institution in Canada to market Facebook Lead Generation ads (and first globally among investment and insurance companies).
- First mobile app in Canada to provide integrated, seamless access to members of both a benefits and retirement savings plan at work – enabling members for the first time to submit claims on their mobile device and receive instant processing to receive payment.
“Health as we know it is radically being redefined, driven by consumers, technology and the inability of formal health systems to deliver services that meet the needs and expectations of society. With this, health plans and insurers are undergoing a major reconceptualization of their business models and value propositions. As a Canadian and global leader in health insurance, we are thrilled to be working with Sun Life to help realize this new future of health,” says Zayna Khayat , Senior Advisor of Health System Innovation at MaRS.
“Digital financial solutions are providing consumers with greater control over how they save for retirement and benefit from financial services,” says Adam Nanjee , Head of Financial Technology at MaRS. “We are excited that Sun Life is joining the MaRS partnership group to collaborate with a growing community of corporate partners, technology companies and entrepreneurs to further drive financial innovation.”
About MaRS Discovery District
MaRS Discovery District in Toronto is one of the world’s largest urban innovation hubs. MaRS supports promising young ventures that are tackling key challenges in the health, cleantech, finance & commerce, as well as work & learning sectors. In addition to helping startups launch, grow and scale, the MaRS community is dedicated to cross-disciplinary collaboration, commercialization of discoveries and driving ideas to impact.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial has operations in a number of markets worldwide, including Canada , the United States , the United Kingdom , Ireland , Hong Kong , the Philippines , Japan , Indonesia , India , China , Australia , Singapore , Vietnam , Malaysia and Bermuda . As of March 31, 2016 , the Sun Life Financial group of companies had total assets under management of $861 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.