MANULIFE has inked a partnership with Aviva to market insurance products in the health and employee benefits space.
The products that will be marketed are MyShield, and three group plans targeted at small and medium-sized enterprises. These are Activ8, Global Health and Global8.
The latter three will carry Manulife's brand when they are marketed by its sales force of 1,100 agents. Manulife president and chief executive Darren Thomson said: 'We would like our sales people to become one-stop financial planners. We'll look at partnerships where we have gaps in our product line-up.'
MyShield is a hospitalisation plan under the CPF scheme. Aviva recently announced an enhanced plan where customers need not declare their medical history or undergo a medical examination when they sign up. This will be launched in September. ManuGlobal Health provides pre- and post-hospital care for expatriates and their families and allows them to choose where, when and by whom they are to be treated, depending on the plan.
ManuActiv 8 is an employee benefits solution for companies with at least two staff members. ManuGlobal 8 is also an employees benefits plan, for firms with staff who may travel or be posted overseas.
Keith Perkins, Aviva chief executive, said: 'We're moving into the SME sector with standard price group contracts for enterprises with 50 employees or less. It's a sector that is not well serviced. Manulife is very well placed to grow the business.' The partnership took effect on Thursday for at least three years.
Earlier this year Manulife also tied up with MSIG Insurance to market three of MSIG's products. These are ManuHome for home contents, ManuAuto for motor and ManuTravel for travel insurance.
