Earlier this year, Prime Minister Justin Trudeau emphasized the importance of innovation in Canada, and positioning the country as a global technology hub. Businesses of all sizes seemingly agree with Trudeau’s vision, with many furthering their innovation agenda; one such business is Sun Life Financial Canada.
Leading international financial services organization Sun Life Financial has forged a partnership with MaRS Discovery District, one of the world’s largest urban innovation hubs, based in Toronto, in order to collaborate and share knowledge with startups.
The move comes as part of the evolution of Sun Life’s client-focus and business model; the company will connect other corporate partners with startups as part of the financial technology and health clusters of MaRS.
“At Sun Life, we are proud of our leadership role in helping to transform our industry through digital and other solutions that respond to our clients' needs and changing expectations," said Sun Life Financial Canada President Kevin Dougherty.
"Our partnership with MaRS will provide unique opportunities to share ideas and collaborate with startups on cutting-edge solutions designed to help our clients when it comes to their finances, health and wellbeing."
Sun Life intends to use the connections of MaRS Discovery District to expand its digital innovation agenda, which already boasts some impressive achievements, such as unveiling the first real-time decision-managing technology in the insurance industry, which uses advanced analytics and big data to assist group plan members in understanding their pension plans and benefits.
Sun Life has also launched the first mobile app in Canada that offers members seamless access to both retirement savings plans and benefits plans at work, enabling them to submit claims via smartphones and tablets, and enjoy instant processing and payment.
"Digital financial solutions are providing consumers with greater control over how they save for retirement and benefit from financial services,” MaRS Head of Financial Technology Adam Nanjee said.
"We are excited that Sun Life is joining the MaRS partnership group to collaborate with a growing community of corporate partners, technology companies and entrepreneurs to further drive financial innovation."
While innovation is a big focus of modern start-ups, entrepreneurs also need to hone their core competencies in order to make their venture successful. By enrolling in the University Canada West (UCW) master of business administration (MBA) program, they can get access to education that will provide them will the expertise needed to build lasting careers in Canada and around the world.