We’re excited to announce that the Vitality-linked insurance offering is now available in Japan through a partnership with Sumitomo Life. Sumitomo Life Vitality was presented to employees and other stakeholders today in Tokyo, Japan and will be available to the public and sales agents beginning July 24, 2018.
Vitality Shared-Value Insurance is a business model that rewards people for living a healthy lifestyle. Similar to how John Hancock Vitality works in the United States, Sumitomo Life Vitality clients will benefit from a premium saving of 15 percent and retain this savings for efforts to improve or maintain their health. This rewards system drives positive behavior change over the long term, resulting in Vitality members living longer.
“Vitality is a powerful behavior change platform, which is successfully improving the health of 8 million people in 17 markets,” said Barry Swartzberg, CEO of Vitality Group. “Today, we are excited to extend that reach even further, and introduce Sumitomo Life Vitality to Japan. Maintaining the integrity of our core Vitality offering, we aim to make the Japanese population healthier by incentivizing healthy behavior.”
This partnership brings the number of countries in which the Vitality Shared-Value Insurance Model is available to 18 and is in keeping with Vitality’s global efforts to improve health. Healthier people translate into a more productive and healthier society, with lowered healthcare needs and costs.