Pandemic encouraging healthier lifestyles
Amid the anxiety and uncertainty caused by the COVID-19 pandemic, people are adopting healthier lifestyles and embracing technological efficiencies in everyday life, according to a survey by Manulife, an international financial services provider.
The survey found respondents in China more optimistic about the pandemic slowing down in the next six months, with only 11 percent of insurance customers believing COVID-19 will exacerbate during the second half of 2020.
They have also adopted healthier habits since the outbreak. In China, 55 percent of respondents found ways to stay fit since the onset of COVID-19, while 45 percent began tracking their mental status, acknowledging the importance of also staying mentally fit.
Understanding the growing awareness of healthy living among insurance customers, Manulife has launched a new “Biological Age Model,” enhancing term life insurance product with a dynamic health management concept.
“We hope to help customers realize more benefits from a healthy lifestyle,” said Kai Zhang, chief executive officer of Manulife-Sinochem.
With rising health-care costs as well as the surge in demand for health-care services in China, the growing appetite for more active, health-conscious lifestyles becomes even more important.
The survey also found that although 39 percent of participants expect their personal wealth to decline as a result of the pandemic, more participants said it had caused them to review and manage their personal finances more often, especially on digital platforms. With China’s existing familiarity with e-commerce, digital banking and insurance will help to boost confidence in these services.
The COVID-19 outbreak accelerated trends in China that are already in place, notably regarding health and digitalization of lifestyle. The swiftness at which new practices are embraced demonstrates a sense of permanency — continuing efficient digital processes and awareness of health in the post-pandemic world.