Since the initial launch of John Hancock Vitality, John Hancock has continued to innovate and improve its offerings. With the launch of its HealthyFood initiative, which rewards clients for following nutritious diets, John Hancock Vitality now addresses smoking, lack of exercise and poor nutrition, the three major factors impeding longevity.
Corporate Insight had the privilege of learning more about John Hancock Vitality’s growing efforts in two different settings last week—at a panel discussion at the LIMRA Life Insurance conference featuring Heather Majewski, Assistant Vice President at John Hancock, and Tal Gilbert, Senior Vice President for Innovation and Marketing at Vitality, and at the launch of the new Vitality HealthyFood initiative in New York City’s Grand Central Station.
Corporate Insight initially covered the John Hancock Vitality launch on the blog a year ago; since then, the product has significantly expanded to incentivize living healthier lives not only with premium savings but also with perks like gift cards and discounts at hotel chains and retailers. Clients can log healthy behaviors online, in an app, or through tracked data in their wearables, such as with the free FitBit or a discounted Apple Watch provided through Vitality.
Vitality HealthyFood, Vitality’s latest offering, provides up to $600 of savings annually for clients purchasing healthy foods at 16,000 participating retailers, including Walmart. The firm also offers nutritional advice in partnership with Tufts University, and policyholders can earn program points for healthy eating that translate into rewards and premium savings.
John Hancock Vitality is currently available for seven different products, including term, universal, indexed universal and simplified issue product types, with the firm continuing to expand its offerings. Although Vitality’s partnership with John Hancock is exclusive in the United States, Vitality and its parent company Discovery already boasts millions of clients across four continents and $7.8 billion in gross revenue. Discovery initially launched the Vitality wellness program in South Africa, where it is the largest health insurer.
John Hancock’s partnership with Vitality appears to be a great success, with Majewski noting that purchases are coming more from younger people and women, both groups that generally face a life insurance coverage gap. Notably, Vitality has enabled John Hancock to significantly increase customer engagement. As clients are now incentivized to engage with their life insurance policy by earning points and logging their healthy habits, the firm’s average number of customer interactions has increased dramatically to an average of 44 from one or two, which presents additional cross-selling opportunities that John Hancock has yet to take advantage of.
John Hancock Vitality Marketplace
The John Hancock Vitality Marketplace in in Grand Central promoted the HealthyFood launch with an appearance by celebrity chef Tom Colicchio, food samples and educational stations that allowed participants to learn about both John Hancock Vitality and healthy habits. Visitors to the John Hancock Vitality Marketplace were able to navigate through stations and earn passport stamps for visiting each station. By visiting all of the stations or by correctly answering questions at the Know It station, visitors could earn prizes like lunch containers and blenders. John Hancock did an excellent job of promoting its new initiative at this event, which followed last year’s John Hancock Vitality Village launch event in the same location.
John Hancock Vitality Marketplace