Sun Life HWM$

Facts of Sun Life

100

At Sun Life, do we call the recipients of our products Customers or Clients?

Clients

200

What year did the Brighter Way initiative start?

2014

300

What is the Sun Life Client 2020 purpose?

Helping our clients achieve lifetime financial security and live healthier lives

400

What is Sun Life's Client 2020 ambition?

To be "one of the best" insurance and asset management companies in the world

500

Achieving our Client 2020 objectives requires five areas of focus. Name two of the five areas.

Hint: these are the categories for the CEO Awards 

- Digital, Data & Analytics

- Financial Discipline

- Talent & Culture

- Distribution Excellence

- Client Focus

Four Pillars

100

What are Sun Life's four pillars?

Canada, US, Asia, Asset Management

200

Which of the four pillars makes up the majority of our income?

Canada (35%)

Asset Management (30%)

US (19%)

Asia (12%)

UK (4%)

300

In which pillar do we depend heavily on Joint Ventures?

Asia

- Partnerships with the top 3 Telcos in Philippines, Malaysia, Indonesia, and India

- Strong bank partners in all markets 

- Focus on simple products that are sold digitally through mobile

400

Which insurance product makes up the majority of our income in Canada?

(Group Benefits, Group Retirement, Individual Insurance, Individual Wealth)

Individual Insurance (42%)

GB (35%)

GRS (15%)

Individual Wealth (8%)

500

Our US business prides itself on being the largest independent Stop-Loss provider. What is Stop-Loss?

Sun Life protects the employer in cases of insurance claims over a certain threshold (i.e. we pay all claims over $1M)

Products & Pricing

100

How does Sun Life make money off of it's insurance products?

If we collect more premiums than we pay out

200

For which product is mortality risk the main concern?

Life Insurance

(Risk of death, estimated based on actuarial experience)

300

What is morbidity risk?

Risk of disability 

(Estimated based on actuarial experience & is a risk relevant in Disability, Critical Illness and Long Term Care insurance)

400

How long does it take to price a completely new product?

4 years

(Updating the price of an existing product takes from 12-18 months)

500

Which actuarial pricing method do we use at Sun Life?

a) First Principles

b) Market Based

c) Hybrid

c) Hybrid (adjust prices to balance competitiveness and profitability)