Manulife Hong Kong garners four major awards at iMoney Insurance Excellence Awards

With photo                                                                

Recognized for excellence in MPF, critical illness products, innovation and claims

Hong Kong – Manulife Hong Kong has won four awards at the inaugural iMoney Insurance Excellence Awards, including “Best MPF Scheme Provider”, “Best Critical Illness Insurance Product”, “Best Insurtech Innovation (Customers)” and “Best Claims Service”. These awards recognize the company’s excellence across its key business focuses. 

Guy Mills, Chief Executive Officer of Manulife Hong Kong, said, “These awards are a testimony to our determination to do the right thing for our customers. We excel in the areas that are important to customers in Hong Kong — from MPF to critical illness protection and the claims experience. We will keep pushing limits to bring best-in-class products and services to our customers, helping make decisions easier and lives better.” 

Winning the title of “Best MPF Scheme Provider”, Manulife is the No. 1 Mandatory Provident Fund (MPF) scheme sponsor in Hong Kong by market share. As at September 30, 2018, it had a record-high market share of 23% based on assets under management, and 36.5% share in terms of estimated net cash flows for the period from July 1 to September 30, 2018¹.

Manulife provides one of the most comprehensive MPF platforms² in Hong Kong with a range of select constituent funds to cater to members’ varying needs. In addition, Manulife offers a member reward programme based on the length of the Manulife MPF relationship and the amount of aggregated MPF assets for providing special offer on the management fees of selected constituent funds by way of bonus units. The longer MPF members stay with Manulife and the more MPF assets they maintain with Manulife, the better the privileged rates they may enjoy³.

Manulife provides customers with a holistic suite of protection solutions, including the newly released ManuLove Care – the winner of the “Best Critical Illness Insurance Product” award. Developed especially for Hong Kong’s “sandwich generation”, this comprehensive plan extends protection to the insured’s parents, children and any future children with no underwriting required for these family members. For added peace of mind, ManuLove Care offers continuous care protection to provide ongoing coverage in case major critical illness strikes again. It also features a guaranteed and level premium, along with life protection and long-term savings, to allow for better financial planning⁴.

Innovations that enhance the customer experience are a key pillar of Manulife’s digital strategy. Winning both the “Best Insurtech Innovation (Customers)” award and “Best Claims Service” for 2018, Manulife’s eClaims solution, hosted on claimsimple.hk, is a prime example of digitalization in action. Launched in January 2018, this online claims service with easy access from any digital device and a no-fuss login radically simplifies and automates the claims process so that submissions can be completed in as little as one minute. About 40% of eligible customers are already using this web-based platform to submit claims. As measured by the Net Promoter Score (NPS), customer satisfaction for eClaims is 30 points higher than traditional paper-based claims. 

Organized by iMoney, a major financial publication of the Hong Kong Economic Times group, the Insurance Excellence Awards recognize outstanding performance by insurance companies in Hong Kong. Winners are selected on the basis of the review of judging panel and the results of a public voting. For details about the Awards, please refer to: http://www.imiea.hk.

1 Source: “Mercer MPF Market Shares Report” as of September 30, 2018 by Mercer (Hong Kong) Limited.
2 Source: Mandatory Provident Fund Schemes Authority’s Fee Comparative Platform on August 22, 2018, in terms of the number of constituent funds of MPF schemes available.
3 Subject to terms and conditions
4 Subject to terms and conditions

About Manulife Hong Kong

Manulife Hong Kong offers a diverse range of protection and wealth products and services to individual and corporate customers via Manulife (International) Limited, Manulife Asset Management (Hong Kong) Limited and Manulife Provident Funds Trust Company Limited, which are members of the Manulife group of companies.

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2017, we had about 35,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of September 30, 2018, we had over C$1.1 trillion (HK$6.8 trillion) in assets under management and administration, and in the previous 12 months we made C$27.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.