At Sun Life, we see first-hand the importance of developing financial security. We believe there are opportunities to do much more to help people achieve better financial outcomes.
A key pillar of our sustainability plan is to expand and create new opportunities to boost financial security. We’re focused on three areas: providing innovative financial products and services; making it easier for people to take positive financial action; and increasing access to and use of protection and wealth products, helping to build long-term wealth and close insurance coverage gaps.
We offer a broad range of wealth and insurance solutions. Directly in line with our Purpose, they help our Clients and employees increase their lifetime financial security:
We recognize the financial landscape is complex. Many people don’t have the time, interest or energy to navigate their financial choices. We’re using new technologies and nudging strategies to make financial decisions easier for people. These approaches help motivate them to take positive financial action. For example:
In some countries where we operate, the life insurance sector is very underdeveloped1. Helping people access affordable insurance represents huge growth potential for any insurer bridging the significant coverage gap. We offer micro-insurance solutions and distribution channels to support underserved and low-income people. In Indonesia, for example, our partnership with Linkaja helps consumers access affordable life and health insurance products.
Our experience shows that with greater knowledge and confidence, people can make better financial decisions. Across our regions, we’re increasing our financial education campaigns for Clients and community members.
We engage in advocacy activities to highlight ways to improve financial resilience in society. Our activities include contributing to public policy discussions, participating in industry forums, and sharing research and insights.
Help Clients take positive financial actions to achieve their financial security. We are working towards setting a target.
1 Bain. “Making the Most of Asia-Pacific’s Insurance Boom”. May 2019.