iPMI Magazine Is Proudly Sponsored By:
For a healthier journey.

iPMI Magazine Has Moved

iPMI Magazine successfully rebranded to iPMI Global in 2023 and has moved to a new home on the internet. To visit the brand new international private medical insurance business intelligence platform, please go to

Garmin® Helicopter Avionics Suite Selected By Air Evac Lifeteam

Garmin International Inc. announce the selection of a completely integrated Garmin avionics suite by Air Evac Lifeteam for its fleet of Bell 206 and Bell 407 helicopters. This Night Vision Goggle (NVG) compatible upgrade consists of the G500H glass flight display, GTN™ 650 touchscreen GPS/NAV/COMM and GTR 225 COMM radio, as well as the GDL® 88 ADS-B datalink and GRA 55 radar altimeter.

Optimized for rotorcraft, this avionics suite offers robust features that reduce pilot workload and assure fleet commonality. Additionally, these avionics fulfill Part 135 radar altimeter and Helicopter Air Ambulance (HAA) equipage requirements set forth by the FAA, as well as Helicopter Terrain Awareness and Warning System (HTAWS) and Automatic Dependent Surveillance-Broadcast (ADS-B) initiatives. The Garmin Pilot™ app completes this comprehensive suite by offering unique helicopter-tailored features so operators are equipped with the latest capabilities.

“The selection of a fully equipped Garmin avionics suite is a declaration of the performance and dependability provided by our equipment and further demonstrates Air Evac’s commitment to providing its crews and patients with the most advanced technology the industry has to offer,” said Carl Wolf, Garmin’s vice president of aviation sales and marketing. “We are excited the relationship with Air Evac has expanded with its growing needs to now provide a comprehensive solution that goes beyond a state-of-the-art avionics suite. Our valued, long-term relationship has evolved to benefit pilots, patients and crew alike and we look forward to supporting Air Evac with the most integrated and advanced avionics suite on the market that enhances situational awareness for their operations.”

Tony Bonham, senior director of flight operations for Air Evac Lifeteam, said the company has a long-standing relationship with Garmin. “Our pilots are excited that Air Evac made a commitment to equip its fleet with the Garmin G500H and GTN 650,” he said. “They have used Garmin’s equipment for several years and are confident the new G500H and GTN 650 will bring a new element of situational awareness to the aircraft.”

The G500H is a dual-screen electronic flight display system designed specifically for the VFR helicopter market. The primary flight display (PFD) and multi-function display (MFD) within the G500H displays position, altitude, speed and more, directly in the field of view of the pilot. The GTN 650 touchscreen GPS/NAV/COM is seamlessly integrated with the G500H to provide operators with state-of-the-art navigation capabilities. Crew workload is reduced with the GTR 225 COM radio, which incorporates frequency lookup and reverse lookup functions via an internal database on a large, sunlight-readable LCD display.

State-of-the-art HTAWS technology continuously works to monitor surrounding terrain and obstacles. Operators are provided with visual and aural alerts of potential terrain and obstacle conflicts, which are available within the GTN touchscreen navigator and on the PFD of the G500H. Garmin HTAWS incorporates a five-color terrain scale (red, orange, yellow, green and black) and provides pilot-selectable voice callouts when descending from 500 to 100 feet above ground level (AGL). Furthermore, Garmin’s HTAWS offers Reduced Protection (RP) mode that allows low-level operations with minimal alerting, while continuing to provide terrain and obstacle protection. In addition to HTAWS, optional WireAware™ wire-strike avoidance technology overlays comprehensive power line location and altitude information on the moving map so they’re easier to identify relative to the flight path of the helicopter.

Helicopter Air Ambulance requirements are easily met with Garmin’s high-performance and cost-effective GRA 55 radar altimeter, which conveniently displays altitudes on the PFD of the G500H. Leveraging patented digital signal processing, this technology incorporates built-in self-test monitors that continuously cross-check system and data integrity, assuring the pilot of an accurate height above ground measurement. In addition to one hundred foot callouts, the GRA 55 offers an additional 50-foot callout when paired with HTAWS.

The dual-link GDL 88 ADS-B datalink provides helicopter operators with a solution to meet ADS-B airspace requirements. For added awareness, traffic information received by the GDL 88 is conveniently displayed on the G500H and GTN 650, which also features audible traffic callouts. Additionally, the GDL 88 receives FAA subscription-free Flight Information Service-Broadcast (FIS-B) weather, displaying graphical NEXRAD radar information, NOTAMs, METARs, TAFs, TFRs and more on the G500H and GTN 650.

The Garmin Pilot app leverages unique helicopter-tailored features, which help Helicopter Air Ambulance operators meet rules recently established by the FAA. When entering a departure and destination pair, Garmin Pilot easily identifies the highest obstacle along the route of flight in mean sea level (MSL) and above ground level (AGL). These obstacles are easily identified on the flight plan page, as well as the moving map page. Additionally, Garmin Pilot provides these operators with convenient access to IFR and VFR Helicopter Route Charts throughout eight major metropolitan areas within the United States.


Empire Life Signs Agreement with MetLife Expatriate Benefits

The Empire Life Insurance Company (Empire Life) announced it has signed an agreement with MetLife Expatriate Benefits to administer its new Voyageur Global Benefits program for expatriate medical, disability, and life insurance.

"We're delighted to be launching Voyageur Global Benefits and working together with MetLife. With nearly 60 years in the market, they have vast experience when it comes to expatriates benefits," said Steve Pong, senior vice-president, Group Solutions at Empire Life. "MetLife administers the employee benefits of thousands of expatriates around the world. They have the breadth and depth of experience required to deliver the service excellence that both of our organizations are known for."

The number of Canadians living abroad has increased substantially in the past two decades, which has increased demand for expatriate benefits. Recent reports estimate 2.8 million Canadians are living abroad.1

Voyageur Global Benefits will offer world-class benefits for Canadians working abroad.2 A key feature of this new suite of benefits is the MetLife Regional Service Centre model. Located in key areas around the world, this puts local resources closer to members while on assignment. Experienced staff provides local expertise and understanding of regional differences, making it easier to obtain quality medical care, get services paid, and receive local support.

"Working abroad can be both exciting and challenging for expatriates and their families," said Dan DeKeizer, senior vice president, Global Employee Benefits, MetLife. "With Voyageur Global Benefits, customers will have access to more than a million healthcare providers in over 180 countries, which helps deliver peace of mind no matter where they are in the world. We are very pleased to be working with Empire Life, and together, look forward to bringing innovative solutions to the Canadian market."

(1) Courtesy APF Canada 2011.

(2) Voyageur Global Benefits will be available in Quebec at a later date.

(3) The Globe and Mail Report on Business Magazine, June 2015, based on revenue.

(4) As at May 19, 2015.


Transforming The Business Protection Market With Interactive Underwriting

Aviva has launched two new business protection products on the Aviva Life Protection Solutions (ALPS) online platform, including a market first Relevant Life Insurance with the option to add critical illness cover.

The inclusion of critical illness benefit as an option on Aviva’s Relevant Life Insurance, which provides individual death in service benefit for an employee, represents a significant change for the business protection market and will make it even easier for advisers to cover their clients’ business protection needs in one application.

Aviva will also offer Business Life Insurance Options, which will provide life and critical illness cover for business clients.

Through the ALPS platform, advisers will be able to quote and apply for the new business protection products simply and seamlessly, and with interactive underwriting can expect a straight-through rate of around 75%, providing certainty and convenience for their clients. The self serve function allows advisers to deal with case administration at a time and place that suits them, with all policy documents stored online for simple access.

The platform provides a full online quote, apply and track facility, with multi-product applications enabling advisers to apply for both of Aviva’s business protection products at the same time. An enhanced protection promise up to £1 million benefit recognises the higher average case size for business protection.

Business protection advisers will also benefit from expertise and end-to-end support from Aviva through a support line and specialist account managers. This includes a dedicated team for high value cases, who will provide pro-active support as well as help with any underwriting, tax or trust queries.                                                                      

The two protection products help businesses protect against any financial loss in the event of death or critical illness of a business owner or key individual, and provide cover to employees. This includes access to a network of medical experts through Second Opinion by Best Doctors, at no extra cost.

Louise Colley, Managing Director of Protection at Aviva, said:, “Interactive underwriting and an intuitive end-to-end application process on our ALPS platform is really transforming personal protection writing, so I’m delighted that business protection writers will also have the same easy access to these new products, in order to help protect more lives.

“Historically, relevant life policies have tended to only include a death benefit and terminal illness benefit, so I’m equally delighted that following extensive research and advice from external legal counsel, we are able to offer a fully-compliant critical illness benefit on our new Relevant Life Insurance. This is a market first and we believe that it will really help advisers write more protection business more easily.”


Swiss Re Capital Markets Underwrites Transaction For AXA Global Life

Swiss Re Capital Markets has successfully led the issuance of EUR 285 million of insurance-linked securities by Benu Capital Limited ("Benu") on behalf of AXA Global Life, a wholly-owned subsidiary of AXA S.A. The securities cover excess mortality events in France, Japan and the United States. It is the largest excess mortality issuance since 2007.

Swiss Re Capital Markets underwrote the transaction which covers excess mortality events via two classes of Principal At-Risk Variable Rate Notes issued by Benu Capital Limited. Benu Capital Limited (Benu) is an Irish private company incorporated with limited liability. The EUR 135 million Class A notes and the EUR 150 million Class B notes have a five-year risk period starting January 1, 2015.

The proceeds of the Notes each collateralise a counterparty contract with AXA Global Life, providing protection against excess mortality in France, Japan and the U.S. via country age and gender weighted population mortality indices.

Jean-Louis Monnier, Head of ILS Europe at Swiss Re Capital Markets, comments: "We are pleased to provide continued support to AXA Group's strategy in accessing capital markets. This transaction is the largest excess mortality issuance since 2007 and breaks new grounds in terms of structure and risk. AXA Global Life and Swiss Re jointly developed an innovative trigger which more flexibly captures mortality events occurring in any one year or across two calendar years. Moreover, the Class B expands the boundaries of the ILS excess mortality market to higher loss probabilities." 

The transaction utilises a putable note, issued by the European Bank for Reconstruction and Development and underwritten by Swiss Re Capital Markets, as collateral for each Class.

This placement is the sixth ILS transaction sponsored by an AXA Group subsidiary and the second covering excess mortality since the 2006 USD 450 million Osiris issuance.

Swiss Re Capital Markets acted as lead structuring agent and joint bookrunner.

Standard & Poor's has published a rating of BB+ (sf) for the Class A notes and BB (sf) for the Class B notes.

The Benu notes were sold pursuant to Rule 144A of the U.S. Securities Act of 1933, as amended (the “Securities Act”) and have not been registered under the Securities Act or any state securities laws; they may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject, to the registration requirements of the Securities Act and applicable state securities laws.


AIG Opens New Shared Services Center In Sofia, Bulgaria

American International Group, Inc. (AIG) have officially opened a new Shared Services Centre (SSC) in Sofia, Bulgaria, during a grand opening ceremony attended by Peter D. Hancock, President and Chief Executive Officer of AIG, and Meglena Kuneva, Deputy Prime Minister of the Republic of Bulgaria.

The centre will support AIG’s insurance operations in 17 countries across Europe with Claims, Policy Servicing, Accounts Receivable, and Travel Assistance services.

“This is a significant day for AIG, for our customers, and for our employees,” said Mr. Hancock. “Opening this new centre in Sofia, which will play an important part in our European operations, affirms our strong commitment to Bulgaria. In addition, we also plan to continue expanding our commercial insurance activities here.”

AIG currently employs 350 people in Bulgaria, 98 percent of whom are university graduates, and all speak at least one other language. By the end of 2015, AIG plans to increase staff numbers in Bulgaria to approximately 500.

“This is an exciting time for all of us in Bulgaria,” said Venislav Iotov, General Manager of AIG for Bulgaria and Romania. “AIG’s investment creates excellent employment opportunities at one of the largest global insurers.”

Also attending today’s ribbon-cutting ceremony and grand opening were senior representatives of the Bulgarian government, including Vladimir Tudjarov, Secretary-General,Ministry of Economy; Mr. Stamen Yanev, Executive Director of InvestBulgaria Agency; and Mrs.Ralitsa Agayn-Guri, Vice Chairman of the Financial Supervision Commission. Also present were Mr. Bruce Burton, Deputy Chief of Mission in the Embassy of the United States inBulgaria, and Mr. Thomas Bruns, Commercial Counselor in the Embassy of the United Statesin Bulgaria.


Hardworking SME's Rely On Family And Friends For Advice Rather Than Experts

SMEs are failing to make use of expert advice when setting up their business, according to new research from Aviva*, leaving them vulnerable to costly mistakes. Two in five (38%) rely on advice from family or friends, while just 13% consult financial advisers, 9% use legal advisers and 6% turn to insurance providers.

SMEs found that the top three hurdles when setting up their business were financial administration (32%), marketing and sales (31%), and understanding and fulfilling legal obligations as an employer or business owner (30%).

All were areas that they had little or no knowledge of when setting up – three quarters of SMEs knew little or nothing about bookkeeping or marketing and sales. An even greater proportion (85%) said they knew very little about their legal obligations as an employer.

Having established their businesses SMEs say the top three hurdles that they have still not been able to overcome are marketing and sales (26%), getting financial help (18%) and understanding legal obligations as an employer (also 18%).

Employer obligations, for many businesses, will include overcoming hurdles like pension auto-enrolment for the first time. Whilst our research shows a third have done so already, one in five (21%) say they haven’t yet set up a workplace pension but know they need to at some point and over a third (36%) of micro employers (those with 1-5 employees) don’t think they need to. Along with its pensions schemes Aviva has created some helpful tips and advice about auto-enrolment and when to start thinking about setting up or preparing for their ‘staging date’.**

Angus Eaton, managing director of commercial lines at Aviva, said: “Making the time to balance the management of day to day customer, employee and supplier demands with protection against nasty surprises is a perpetual challenge for any business. Great advice helps.

“It’s only natural to want to consult with your family and friends but advice from professional experts can save time and money, helping small business owners with practical solutions, learnt from similar experiences in other businesses.

“Whether it’s getting hands-on help with bookkeeping, or getting to grips with the legal obligations associated with being an employer, there is a wealth of advice and material designed to support SMEs along every step of the way. Government resources such as those on the Great Business website - particularly for fledgling SMEs - are a great place to start."

Failure to understand legal obligations leaves SMEs at risk of breaching the law

Not being able to understand legal obligations as an employer or business owner is leaving some SMEs in danger of breaking the law.

Employers’ liability insurance is a legal necessity for the vast majority of businesses with staff however one in ten (11%) SMEs thought it wasn’t a legal requirement in any scenario. A quarter (25%) of SMEs also wrongly believe that employers’ liability insurance is only legally required once a business has more than one employee.

Employers’ liability provides vital cover should a member of staff make a claim for illness or injury caused by their job and it is a legal requirement. Failure to have it carries the risk of fines of £2,500 for every day the business is not properly insured***.

Almost nine in ten (87%) SMEs did not know that the minimum legal requirement for employers’ liability insurance is £5 million, with a fifth (19%) believing the minimum legal cover to be less than £500,000.

And it isn’t only employers’ liability insurance that some businesses are unsure of. When we asked about all types of business insurance less than a third (29%) of SMEs said they are very confident that they have the right cover, and one in ten (12%) admitted to having no business insurance at all. That is potentially leaving more than 600,000**** SMEs financially vulnerable should a claim arise.

However, it seems that the longer they are in business the higher the priority for insurance becomes. A quarter (25%) of SMEs that have been in business for less than a year have no insurance but this fell to 5% for more established businesses who have been operating for 8-10 years.

Eaton continued: “Clearly SMEs need a strong understanding of their legal obligations and how they can protect their business and employees to keep it trading - one claim without adequate cover could easily be enough to put severe financial pressure on an organisation or even close it down completely.

“It seems from our survey that the longer they are in business the more likely SMEs are to have taken out business insurance and my advice would be, don’t wait – make sure you have the right insurance from the start. Making the time to get the right advice and protection for your business could be the best investment you make so if you don’t already have one speak to your local broker as soon as you can.”

* Research was conducted online by RedShift among 1,507 SMEs in February 2015.
** For more information on auto-enrolment visit:
****According to Government statistics, there were 5,163,600 SMEs at the start of 2014 in the UK


ACE Life Launches Three New Flexible Insurance Products

ACE Life, the global life insurance division of ACE Group, today announced the launch of three new products - ACE Accident Guard Plan, ACE Golden Touch Saver Plan II and ACE Golden Touch ULife Plan II in Hong Kong. The three new products reflect ACE Life's focus on providing customers with more flexible insurance solutions to help build a secure and successful future.

ACE Accident Guard Plan is a comprehensive personal accident insurance plan with triple indemnity, which is rare in the market, for flight accidents. Plane crashes are making the news more frequently and this plan offers customers peace of mind with a one-stop solution, with a fixed premium payment period as short as 10 years for accident protection for themselves and their loved ones. Customers can enjoy comprehensive protection against total and permanent disability as well as accidental death and accidental dismemberment including also major burns and insanity.

In addition, ACE Life has also revamped its universal life plans, namely the ACE Golden Touch Saver Plan II and ACE Golden Touch ULife Plan II, to offer flexible solutions for life protection and wealth accumulation. Customers can receive a super bonus of up to 6% of one year's basic premium upon any successful application for a designated ACE Golden Touch Saver Plan II from now until 30 June, 2015.

The ACE Accident Guard Plan and ACE Golden Touch Saver Plan II, together with the ACE Golden Touch ULife Plan II, offer comprehensive benefits, with the following features:

ACE Accident Guard Plan Product Highlights:

  • Payment period as short as 10 years covering lifetime protection for accidental death up to the age of 100, and accidental dismemberment, total and permanent disability up to the age of 75
  • Triple Indemnity will be offered in the event of death or dismemberment due to accidents whilst travelling as a fare-paying passenger on any scheduled commercial airline
  • Cash benefit will be paid upon non-accidental death, surrender or maturity starting from the end of the 3rd year policy
  • Worldwide emergency assistance services cover provision of medical evacuation and repatriation when travelling outside one's country of residence

ACE Golden Touch Saver Plan II Product Highlights:

  • Customers could receive crediting interest compounded daily and special Interest which will be credited every 5 years starting from the 10th policy anniversary and on policy maturity
  • Flexible premium payment options of 5/10/20 years for selection, with an extra bonus offered every 5 years upon the 10th policy anniversary onwards
  • A minimum interest rate of 3% per annum will apply with regard to the account value payable upon policy surrender, maturity or insured's death when the policy has run for 12 years or more
  • Flexibility to exercise annuity option to receive a fixed monthly income up to the age 105 or death, whichever is earlier

ACE Golden Touch ULife Plan II Product Highlights:

  • Customers could receive crediting interest compounded daily and special Interest every 5 years starting from the 15th policy anniversary and on policy maturity
  • Customers can enjoy an extra bonus of 3%/4%/5% at the 10th/15th/20th policy anniversary and every 5 years thereafter
  • A minimum interest rate of 3% annually will apply with regard to the account value payable upon policy surrender, maturity or insured's when the policy has run for 12 years or more
  • Flexibility to make optional unscheduled contributions on top of regular payments of the basic premium of protection-oriented option

Ms. Diana Kwan, Chief Partnership & Marketing Officer of ACE Life in Hong Kong, said, "Changes or mishaps can happen when you least expect them. As a result, we are committed to developing and enhancing our products so that they provide customers with the most comprehensive protection to cope with loss of life or money resulting from accidents. With a fixed premium period as short as 10 years, we offer accident plans for up to the age of 100 to protect customers throughout their lives. Our two universal life plans are designed to help customers fulfill their protection needs and grow their accumulated wealth at attractive returns with greater flexibility to meet their changing needs at different life stages."





John Hancock Introduces A Whole New Approach To Life Insurance In The U.S. That Rewards Customers For Healthy Living


  • John Hancock enters exclusive partnership with Vitality to integrate life insurance with a comprehensive healthy living program for U.S. consumers;
  • New products offer potential for savings on annual premiums, as well as discounts and rewards from leading retailers to encourage policyholders to take small steps to improve their health;
  • New policyholders will receive a free Fitbit® to help track their progress;


John Hancock Insurance today announced a whole new approach to life insurance that rewards people for healthy living. Developed through an exclusive, first-ever U.S. life insurance partnership with Vitality, the global leader in integrating wellness benefits with life insurance products, the innovative, new life insurance solution provides policyholders with industry-leading financial protection, as well as opportunities to significantly save on their annual premiums and earn valuable rewards and discounts for taking steps to improve their health.

"We are reinventing the consumer life insurance experience and changing the way people think about this critical component of their overall financial health," said Craig Bromley, President, John Hancock Financial Services."We believe this offering will make life insurance relevant for new generations of consumers and reinvigorate the entire category."

The revolutionary new approach will be announced via a live, online broadcast on Wednesday, April 8 at 10 a.m. ET, at: Additional information is available at

How it works

After identifying a need for life insurance and completing the application process, new policyholders take an online Vitality Health Review to determine their Vitality Age, an indicator of overall health that may be higher or lower than their actual age, which can improve over time as they work toward living a healthier life. Vitality has concluded that, on average, most Americans are five years older than their actual age, based on various health and wellness factors. 1

"We know from our success in other parts of the world that by purchasing an integrated life insurance product, finding out their Vitality Age and participating in this program, people will be motivated to set goals and take steps to healthy living," said Alan Pollard, CEO, The Vitality Group. "Vitality and John Hancock share a commitment to improving the lives of our customers and with more than 150 years of experience and a history of innovation, John Hancock is the perfect partner to help us bring this solution to the U.S."

As part of the program, policyholders receive personalized health goals and can easily log their activities using online and automated tools, which are integrated with personal health technology. In fact, John Hancock is giving every new policyholder a free Fitbit® as one easy way to track their progress.

Policyholders immediately begin accumulating "Vitality Points” after their policy is issued and when they complete health-related activities like exercising, getting an annual health screening or even a flu shot. The number of Vitality Points a policyholder earns over the course of a year determines their program status level. The healthier their lifestyle, the more points they can accumulate to earn valuable travel, shopping and entertainment-related rewards and discounts from leading retailers. Additionally, depending on the type of product they purchase, a policyholder could save as much as 15 percent off their annual premium.

For example, a 45 year old couple (of average health) buying Protection UL with Vitality life insurance policies of $500,000 each could potentially save more than $25,000 on their premiums by the time they reach 85, with additional savings if they live longer, assuming they reach gold status in all years.

"We want to make life insurance more immediate and relevant in the daily lives of our policyholders and help them connect their financial well-being to their long-term health," said Michael Doughty, President, John Hancock Insurance. "The latest advancements in wearable technology are encouraging people to take a more active role in their health, and it's time we applied these innovations to create 'smart life insurance' and recognize and financially reward consumers for their positive actions."

First to market life insurance solutions with Vitality

As part of the new offering, John Hancock today unveiled two new products: Protection UL with VitalityTM, a universal life insurance product, and John Hancock Term with VitalityTM, a term life insurance product. They are the first life insurance products in the U.S. linked with Vitality healthy living programs and are built on Vitality’s innovative shared-value model.

"Not only are these products competitively priced, but they have the same easy application process as many of our other popular life insurance products, with the added bonus of the opportunity to reduce premiums and take advantage of valuable rewards," said Mr. Doughty. "Most Americans know they need more life insurance, and our research shows that nearly all consumers feel they could be living a healthier life. Our new products enable them to achieve both of those goals with one simple, engaging solution."

Protection UL with Vitality and John Hancock Term with Vitality are currently approved and available in 29 and 20 U.S. states respectively, with other state rollouts taking place throughout 2015. John Hancock plans to add additional products to its new Vitality portfolio later this year. For more information, visit

About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management by Manulife and its subsidiaries were C$691 billion (US$596 billion) as at December 31, 2014. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at

About Vitality
The Vitality Group is a member of Discovery Ltd., a global financial service organization offering an incentive-based wellness program to employers as part of their benefits program. With a foundation based on actuarial science and behavioral economic theory, Vitality encourages changes in lifestyle that reduce health care costs, both in the short run and long term, by rewarding members for addressing their specific health issues. Vitality wellness programs serve companies in a wide range of sizes and industries, improving individuals' health and wellbeing as well as employers' bottom lines.

Vitality brings a global perspective through successful partnerships with large employers and best-in- class insurers around the world, in countries including the United States, United Kingdom, South Africa, China and more recently Singapore and Australia. Additional information can be found at

1. The Vitality Institute, "Vitality Age Analysis of Adult National Health and Nutrition Examination Survey Respondents across Three Survey Time Periods," May 17, 2013

Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA 02117 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.

Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock.

Insurance policies and/or associated riders and features may not be available in all states. The John Hancock Vitality Program is available with select John Hancock policies. Please consult your financial representative as to product availability.

Premium Savings will apply based on the Status attained by the life insured. Please consult your financial representative as to how premium savings may affect the policy you purchase.

John Hancock Vitality Program rewards and discounts are only available to the person insured under the eligible life insurance policy.

Rewards may vary based on the type of insurance policy purchased for the insured (Vitality Program Member), the ownership and inforce status of the insurance policy, and the state where the insurance policy was issued.


Discovery And John Hancock Announce Strategic Partnership

Discovery Limited (“Discovery”) and John Hancock Insurance (“John Hancock”) have entered into a strategic partnership which will see the introduction of a comprehensive healthy living program for U.S. consumers. John Hancock, a division of the global financial services group Manulife, is one of the largest life insurers in the United States.

Adrian Gore, Chief Executive of Discovery says, “Discovery and John Hancock share a commitment to improving the lives of our customers, and with more than 150 years of experience and a history of innovation, John Hancock is the perfect partner to help expand the solution that’s at the centre of Discovery’s shared-value insurance model in the US.”

Craig Bromley, President of John Hancock Financial Services comments: “We are reinventing the consumer life insurance experience and changing the way people think about this critical component of their overall financial health. We believe this offering will make life insurance relevant for new generations of consumers and reinvigorate the entire category.”

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 model leverages insights from behavioural economics in an immediate rewards system that drives positive behaviour change over the long term. The change in behaviour results in lower insurance costs and savings that are then used to fund incentives. Customers benefit from the shared-value model through better health and financial rewards.

Recent research conducted in South Africa showed that Vitality incentives have a positive and measurable impact towards improving healthy lifestyle choices. The research also revealed that membership of the Vitality wellness programme is closely linked to the tendency to undertake a health screening, and as a result to also take preventive measures against potentially life threating non-communicable diseases.

The partnership with John Hancock strengthens Discovery’s position as the global leader in the field of incentivised wellness. Discovery has a global presence through partnerships with Ping An in China, AIA in Asia and Australia, and The Generali Group in Europe. Discovery also wholly owns VitalityLife and VitalityHealth in the UK (previously PruProtect and PruHealth respectively).


Evolving Solvency Regimes Create Further Opportunities For Asia Insurers

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc(NYSE:AON), has launched its Asia Pacific Solvency Regulation report for 2015 outlining the latest non-life solvency requirements for 20 countries/regions in the region.

Aimed at multi-national insurers and reinsurers, including firms looking to expand overseas, the report provides an understanding and benchmarking of the existing methodologies adopted by regulators. Asia Pacific has been identified as an area of growth and, as new capital flows in, companies will continue to take advantage of opportunities so a clear understanding of the status quo and future regulatory changes is very important.

The following 20 Asia Pacific countries and regions are included in the report:





Sri Lanka




Papua New Guinea







Hong Kong

(Republic of)

New Zealand



Key findings from the report include:

The most significant change since last year: While regulatory evolution occurs throughout Asia, the introduction of China’s second-generation solvency regime C-ROSS (China Risk Oriented Solvency System) will impact both the fast-growing insurance market itself and beyond. Previously, solvency capital was only decided by an insurer's size but now it takes into consideration insurance/catastrophe, asset and credit risk, plus hard to quantify risks such as operational, reputational and liquidity risk

Upcoming trends: Asia Pacific is strengthening its solvency regulations. Markets such as China, Hong Kong, and Sri Lanka are moving towards risk-based capital (RBC) while developed markets are bringing their existing RBC to a new level – for example Singapore’s introduction of RBC 2 and Japan moving towards an economic value-based solvency regime. Insurance companies need to meet the regulatory challenges, which would effectively motivate them to improve enterprise risk management.

Benchmarking comparisons that the industry can learn from: The Solvency II journey in Europe has greatly influenced markets that are developing new solvency regimes. The three pillar structure is being mimicked in China and Hong Kong, with Pillar 1 for quantitative requirement, Pillar 2 for qualitative requirement, and Pillar 3 for disclosures and information transparency.

Sifang Zhang, head of Aon Benfield Analytics’ Rating Agency Advisory team for APAC, commented: “The report is geared towards helping insurers drill down to the information that is most important for them. Many insurers and reinsurers are keen on identifying key strategic opportunities and at the forefront of this are the ASEAN countries. This region presents many opportunities due to currently low insurance penetration rates, fast-growing economies, an active infrastructure building and the forthcoming ASEAN Economic Community. Regulatory regimes are evolving quickly and risk-based capital regimes are already implemented in half of the countries. The report’s standard structure will enable easy comparisons to be made when insurers are making strategic decisions.”

Subscribe to this RSS feed