Manulife and venture accelerator firm Brinc have partnered to launch a programme to support startups in building digital solutions to improve the health and financial wellbeing of customers across Asia.
Known as the Manulife Boost, the programme will search for qualified startups and give them the chance to pilot their technology with the global insurer, fine-tune their product offerings and potentially scale up their solutions to reach millions of customers in Asia.
According to a statement by Manulife, the program is looking for startups that ultimately help people better manage their finances, develop healthier habits and ensure a more secure future, particularly in a post COVID-19 environment. Applications are open until February 15, 2021.
The selected startups will work closely with Manulife’s business and technology leaders to create proofs of concept to validate and potentially scale their projects. The startups will also gain access to tools, resources and expertise through Manulife’s global network of innovation labs. The selected startups can also access Brinc’s global network of mentors, investors and service providers with entrepreneurship and venture expertise.
A survey conducted by Manulife in May across eight Asian markets found that a lack of financial preparedness during the pandemic was a key concern for people already worried about their physical and mental health. Less than half of respondents (46%) said they have over six months of savings to survive in case of sudden loss of income.
“There’s a lot of room for us to partner with startups to help our customers improve their health and financial wellbeing,” said Mark Van den Broek, chief information officer and chief operating officer of Manulife Asia. “This includes leveraging new technologies to deliver simpler and intuitive digital experiences for all our customers. We’re very excited to be partnering with Brinc and working closely with game-changing digital startups to redefine Asia’s life insurance sector and help make every day better for our customers.”
