Sun Life Financial Forms Partnership With MaRS Discovery

Sun Life Financial Inc. (TO:SLF) recently joined forces with MaRS Discovery District to share ideas and unique opportunities. This move reflects Sun Life Financial’s commitment to develop its business model and improve its client satisfaction.

MaRS Discovery is the largest urban innovation hub in North America. The company primarily focuses on collaborating and sharing knowledge with the start-up community.

Under the terms of the aforesaid partnership, Sun Life Financial will connect with the start-up community, in collaboration with other corporate partners, as part of the MaRS fintech and health clusters.

Sun Life Financial emerged as a leader through its success in transforming the industry through enhanced digital and other solutions. These solutions have been able to fulfill clients’ needs and cater to the changing projections. The collaboration with MaRS Discovery would enable the company to bring cutting-edge solutions to the table, which should help its clients with their finances, health and well-being.

Sun Life Financial intends to leverage the connections at MaRS Discovery to expand its digital innovation agenda. This digital innovation agenda has already made some accomplishments like first real-time decision management technology, workplace mental health risk assessment, to name a few.

Health insurance has been witnessing a radical change, owing to consumer demands, technology and the lack of sophisticated health systems. Hence, insurers have put in efforts to revamp their business models and value propositions.

MaRS Discovery, a global leader in health insurance, is also set to gain from the partnership with Sun Life Financial. The company expects the deal to add significantly to future health insurance as well as the advancement of financial innovation.

Zacks Rank and Stocks to Consider

Currently, Sun Life Financial carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Manulife Financial Corporation (NYSE:MFC) , GWG Holdings, Inc. (NASDAQ:GWGH) and Primerica, Inc. (NYSE:PRI) . Each of these stocks holds a Zacks Rank #2 (Buy).