Manulife Financial Corp. (Manulife) - Digital Transformation Strategies

Manulife Financial Corp. (Manulife) - Digital Transformation Strategies

Summary

Manulife offers insurance products and financial services. It operates under the Manulife brand across Canada, Europe, and Asia, and under the John Hancock brand in the US. The company’s reporting segments are Asia, Canada, US, Global Wealth and Asset Management (Global WAM), and Corporate and Other. The Asia reporting segment offers insurance products and insurance-based wealth accumulation products across Asia. The Canada reporting segment offers insurance products, banking services and insurance-based wealth accumulation products in Canda. It also runs a variable annuity business. The Global WAM segment offers investment advice and innovative financial solutions to institutional, retirement, and retail customers around the world under the Manulife Investment Management (MIM) brand. The Corporate and Other segment comprises property and casualty reinsurance business, run-off reinsurance business, financing costs, and costs related to shareholder activities. In 2023, Asia was the largest segment in terms of core earnings.

The report provides information and insights into Manulife's tech activities, including -

• Insights of its digital transformation strategies and innovation programs
• Overview of technology initiatives covering partnerships, product launches, investments and acquisitions
• Insights on each technology initiative including technology theme, objective, and benefits
• Details of estimated ICT budgets and major ICT contracts

Scope

• Manulife has migrated its IT resources and applications, including its valuation system, to the Microsoft Azure cloud as part of its digital transformation initiative.
• Manulife is leveraging several emerging technologies, including AI, cloud, healthtech, e-commerce, big data, and data Center among others to improve operational efficiency, increase employee productivity and improve the quality of customer service.
• Manulife Bank, the banking division of Manulife, developed its AI-powered chatbot MAI in partnership with Kasisto, a US-based software development company.

Reasons to Buy

• Gain insights into Manulife's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, investments and acquisitions strategies.