Sun Life Financial and Rise People collaborate on all-in-one HR and benefits experience
Sun Life Financial and Rise People collaborate on all-in-one HR and benefits experience |
[18-October-2018] |
Transforming HR, payroll, and group benefits administration for Clients across Canada TORONTO, Oct. 18, 2018 /CNW/ - Sun Life Assurance Company of Canada ("Sun Life") announced today an investment and strategic relationship with Rise People Inc. ("Rise"), Canada's first and only all-in-one HR, payroll and benefits administration solution. Sun Life invested $15 million in equity of Rise, and has the option to invest an additional $9 million under agreed terms. Sun Life and Rise will collaborate to bring new digital connections and services to forward-thinking businesses across the country. Rise's platform masters the complexities of managing employers' administration needs. HR, time tracking, payroll, and benefits administration are brought together in a single system – offering more choice, convenience and personalization to employees, while significantly reducing employer costs. Together, Sun Life and Rise are focused on driving even greater value for employees and employers, including:
"We know first-hand how complex the group benefits and HR administration process can be. Companies are looking for simple, integrated and tech-savvy solutions so that they can focus on what matters the most – employees," said Dave Jones, Senior Vice-President, Group Benefits, Sun Life Financial Canada. "Our strategic relationship with Rise will open up a range of new services to many of our Clients and allow advisors to differentiate and expand their value proposition with a digital platform that simplifies administration and engages employees." Sun Life is the only national insurance carrier to pioneer this approach with Rise, offering more services to existing clients and reaching a wider consumer base through a single health and wellness platform. Today's announcement reinforces Sun Life Financial Canada's ambition to be the best digital benefits provider in the Canadian market. "Today's announcement marks a new milestone in furthering our mission to put people at the heart of people management," said Rise People's Founder and Chief Executive Officer, Faiz Abdulla. "Our continually evolving platform delivers a client experience that simplifies administration and fuels employee engagement. Together, Rise and Sun Life plan to offer a unified experience customized to an employer's needs, chat-based conversational enrolment, personal health and wellness coaching driven by AI, positive incentive health programs, and a marketplace for employees to access exclusive promotions on all kinds of lifestyle products." Sun Life and Rise intend to officially launch the integrated solution to small to mid-sized employers and Clients across Canada in the first quarter of 2019. Following Rise's successful rollout of its national partner program in 2017, the company intends to expand the program to top-tier Canadian insurance consulting and advisory firms. Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies. About Sun Life Financial Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. About Rise People Forward Looking Statements Note to editors: All figures in Canadian dollars Media Relations Contact: Joe Kitos SOURCE Sun Life Financial Canada | ||
Company Codes: Toronto:SLF, NYSE:SLF |
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