Foresters Financial launches well-being insurtech platform

by Leo Almazora17 Sep 2021

Canadian fraternal life insurer Foresters Financial is entering a new chapter in its commitment to promote the well-being of its stakeholders with the launch of a new behaviour-based technology platform.

The newly unveiled wellness platform, called Foresters Go, weaves together wearable app-powered technology and behavioural science to incentivize healthy living. Current and future members of Foresters in Canada and the U.S. can now access Foresters Go as a complimentary benefit, with a later rollout planned in the U.K. next year.

"No one expects a 150-year-old fraternal life insurer to be an industry transformer," said Jim Boyle, President and CEO of Foresters Financial. "But our 19th century charter to enrich the well-being of our members and their communities, in many ways, was presciently designed with the foresight of 21st century innovation."

Foresters Go was engineered based on a pilot program including more than 1,000 Foresters members, advisors, and employees. The pilot program – which was born from a collaboration between Foresters and award-winning insurtech provider dacadoo earlier this year – was aimed at developing a digital health engagement and health risk quantification system.

Drawing on the experiences of the pilot participants, Foresters Go features an intuitive interface that supports personalized goals and interactive coaching. The beneficial features of the platform include:

  • Personalization – wellness advice and goal recommendations prioritized based on initial assessment and user input, as well as the ability to add friends and interact in real time with other members for well-being challenges;
  • Health tracking – intuitive information interface and Health Score informed by monitoring on seven dedicated, interactive areas including physical and mental health, sleep, nutrition, mindfulness, physical activity, smoking habits, and alcohol intake to create a holistic picture of health; and
  • Rewards – users who achieve goals, answer questions, and participate in Foresters activity challenges earn Foresters Go points, which may be redeemed for thousands of possible rewards including merchandise, gift cards, or charitable donations.

The pilot program garnered positive feedback from over three quarters (75%) of the participants, including “Foresters Go has improved my personal health and well-being"; "I would recommend Foresters Go to a friend or colleague"; and "The experience with the Foresters Go Rewards Store was positive".

"We are pleased to have worked with Foresters, our first client that is a fraternal life insurer, and look forward to their members using our world-class solutions that have been carefully customized to their needs,” Peter Ohnemus, president and CEO of dacadoo. “This brings us one step closer to fulfilling our vision of providing great life and health outcomes worldwide through digital health engagement tools.”