May 10, 2011 (Canada NewsWire Group) --
Launches mobile app for group plan members - instant claims processing and new savings tools
TORONTO, May 10 /CNW/ - Sun Life Financial announced today its plans to offer a free mobile application for group benefits and group retirement and savings plan members. Submitting benefit claims and saving for the future will be easier with a single mobile app that will redefine the plan member experience across Canada.
For Sun Life group benefits plan members, the app allows them to submit medical and dental claims from their smartphones for instant processing. Plan members will be able to submit claims anywhere, anytime - even at point of sale - and could have their money deposited into their bank accounts within 24 to 48 hours.
Plan members will also be able to view the details of their submitted claims, even those submitted in paper through the mail, and have easy access to important benefit tools including their drug and travel protection cards. The app is scheduled to be available later this summer.
"Sun Life Financial was the first Canadian provider to introduce e-claims with instant adjudication 10 years ago," says Stuart Monteith, Senior Vice-President, Group Benefits, Sun Life Financial Canada. "With the launch of this mobile application we're continuing our focus on innovation and making it easy for members to submit and receive payment for their claims."
Along with the group benefits capabilities, group retirement and savings plan members can check their plan balances and recent contributions right from their phones. Sun Life Financial will offer mobile access and three interactive financial planning tools that take everyday spending situations and show how easy it is to turn small expenses into substantial savings. These tools include:
- Save today for more tomorrow
- Small amounts equal big savings
- Saving my bonus, saving my raise.
"Plan members have told us they're looking for a faster, easier experience," says Tom Reid, Senior Vice-President, Group Retirement Services, Sun Life Financial Canada. "We've provided that access in education sessions through the use of wireless enrolment and now we're continuing the evolution of our technology for plan members by making mobile access available for account information and financial planning tools. We're taking convenience to a whole new level for group retirement and savings plans."
Mobility is coming of age
Canadians across all age groups are becoming increasingly reliant on smartphones for their communication and transactions. For many in the workforce, smartphones have been completely integrated into their lives and are the primary way of accessing the internet.
Generation Y - the youngest and most "mobile-dependent" workforce group - currently represents just 25 per cent of the workforce.1 That number will rise over the next decade, which will make them the largest group in the workplace. This means that mobile functionality for plan members is no longer a nice-to-have. It's a must-have.
Sun Life's commitment to providing innovative solutions spans all areas of its business. With plans to add tools for retail clients, this initial launch represents just the beginning of mobile app functionality for Sun Life.
Group plan members with an iPhone®† mobile digital device or BlackBerry®‡ smartphone will be able to download the free app directly from each manufacturer's application marketplace. Users of other smartphones will have access to mobile web functionality shortly after the launch of the app. More information and a short video about the app are available at www.sunlife.ca/mobile. You can also view the video on our YouTube page by visiting www.youtube.com/SunLifeFinancial.
The digital facts
- 28% of smartphone owners have used a mobile app for banking or finances within the last 30 days.2
- In 2010, Sun Life processed over 1.4 million e-claims - more than double the company's 2009 total.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2011, the Sun Life Financial group of companies had total assets under management of $469 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to Editors: All figures in Canadian dollars.
† iPhone® is a trademark of Apple Inc.
‡ The Trademark BlackBerry® is owned by Research In Motion Limited and is registered in the United States and may be pending or registered in other countries. Sun Life Financial is not endorsed, sponsored, affiliated with or otherwise authorized by Research In Motion Limited.
1 Dr. Sean Lyons, University of Guelph, "Breaking Down Barriers in a Multi-Generational Workplace", 2011
2 The Nielsen Company - August 2010