(Image credit: Bertvthul.)
Foresters Financial, a Toronto-based provider of financial services to individuals and families, announced that it has teamed up with dacadoo ag, the Zurich-based InsurTech specializing in digital health engagement and health risk quantification, to collaborate in the creation of a platform designed to empower and reward Foresters customers (members) who adopt lifestyles that embrace key aspects of overall well-being: physical, mental, and community-mindedness.
As a fraternal organization, Foresters describes its 146-year-old mission as helping to enrich the well-being of its members and their communities. The company characterizes its initiative with dacadoo as bringing the Foresters mission to life with a modern, fun, and scalable offering to members that aligns with the organization’s fraternal purpose.
“Many InsurTech platforms in the market today focus on the physical and mental aspects of health, but they don’t address the importance of purpose and giving back to your community, which has powerful well-being benefits,” comments Jim Boyle, President and CEO, Foresters. “Our platform will integrate all of these aspects and stands out because we’re making it available to all of our members, not just the new customers.”
The Foresters dacadoo platform leverages wearable app-enabled technology and behavioral science to engage with members on a personalized basis, according to a dacadoo statement. An interactive digital coach encourages users to engage with the platform, and each other, to drive long-term health goals and encourage giving back. Members will earn points for engaging in their personal journey, which they can redeem for rewards via an online rewards store. Reward categories will include merchandise (tablets, smart watches, and more), gift cards, or charitable donations. The reward choices number in the thousands, the statement says.
By providing members with Health benefits; Engagement activities for members and families; Rewards earned through accomplishments; and Opportunities to give back to their local communities, the platform offers every member a chance to reach “HERO” status, according to dacadoo.
“Our members who focus on improving their wellness, while also giving back through volunteer activities, are everyday heroes to their families and communities,” Mr. Boyle said. “As the life insurance provider that believes in helping those who help others, we’re proud to be creating this new platform that celebrates and rewards our members for their extraordinary commitment and accomplishments.”
“We are pleased to enter into this relationship with Foresters, our first partner that is a fraternal life insurer, and look forward to providing world-class solutions customized to their members,” comments Peter Ohnemus, President and CEO, dacadoo. “As a leader in digital health solutions, it is exciting to collaborate with Foresters on their differentiated, purpose-driven approach.
The dacadoo initiative is part of a larger Foresters strategy to grow through innovative member benefits, products, and service offerings that promote a lifetime of well-being, and align with Foresters articulates its fraternal purpose as helping to enrich the lives of hard-working families and their communities—calling this approach “life insurance with a larger purpose.”