FinTech
26 August 2019

John Hancock: FinTech 2020 Startup Challenges

Written by Tatyana Zakrevskaya

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Headquartered in Boston, John Hancock is a division of Manulife Financial Corporation, a leading international financial services group. In all that we do, we obsess about our customers and strive to make their decisions easier and lives better.

John Hancock serves over 10 million customers with a broad range of financial products, including life insurance, investments, 401(k) plans, advice and college savings plans. Building on our 157-year history and a deep expertise in protection, wealth and asset management, we continue to develop solutions that make decisions easier and lives better for our customers.

Our recent notable product innovations include John Hancock Vitality which combines life insurance with a technology-enabled wellness program to help customers live longer, healthier lives. We’ve also launched COIN – a conscious investing platform built to align personal values with investments, starting with just $50.  And we continue to scale Twine – a unique collaborative finance app built to help customers achieve their savings and investing goals.

Hear John Hancock's 2020 Challenges:

WHY WE’VE PARTNERED WITH MASSCHALLENGE FINTECH:

We are excited to participate in the program as the founding partner of MassChallenge FinTech and build on the learnings and success of the inaugural MCFT2019 program. We are excited by the developments in the fintech space and look to startups for breakthrough ideas and a fresh perspective on challenges facing consumers. John Hancock worked with 5 fintech startups in the inaugural MCFT2019 cohort. We completed several product trials and a proof of concept, entered into a paid pilot, and provided advisory support for startups. These engagements proved to be an invaluable source of innovative ideas, energy and collaborative spirit. Partnering with startups helps fuel industry transformation and we are excited to be at the forefront! 

OUR CHALLENGES:

This year, we are expanding our areas of interest for partnering with startups and look forward to working with innovators who think big and match our passion for doing the right thing for our customers.

Our top areas of interest for this year’s program include:

  1. Innovative insurance products that leverage novel data sources, risk and distribution models
  2. Digital solutions that address consumers’ pressing pain points (e.g. emergency and retirement savings, financial education, protection, student debt), offer personalized advice and help them achieve financial wellbeing
  3. Use of data and advanced analytics to better understand our customers, their needs and behaviors
  4. Optimization and digitization of back office processes for greater operational efficiencies
  5. Use of emerging technologies to streamline investment related processes

HOW WE’LL HELP STARTUPS GROW THEIR BUSINESSES:

Partnering with John Hancock offers access to business and technology leaders in protection, wealth and asset management, and a unique opportunity to reach and make an impact on millions of customers.

We have experience incubating digital-first solutions and a track record of partnering with startups to develop new solutions and to digitize existing businesses. Our team has invested in fintech startups and continues to scout for promising companies and technologies that could present future strategic partnership opportunities.

It is exciting to see a 157-year old company partner with MassChallenge FinTech and startups to develop innovative solutions that solve real problems for customers and the industry. We need your help in driving industry transformation and building the next generation of products for millions of consumers. Let’s get it done together! 

Hear other FinTech Partner Challenges here!

 

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Mission

MassChallenge strengthens the global innovation ecosystem by accelerating high-potential startups across all industries, from anywhere in the world.