Manulife Wields Amazon Prime, Chatbot to Battle Big Banks – Bloomberg

https://www.bloomberg.com/news/articles/2019-06-09/manulife-wields-amazon-prime-chatbot-to-battle-the-big-banks

Manulife Financial Corp., Canada’s largest life insurer, is taking on the country’s large lenders with a new package of banking products designed to win over digitally savvy millennials.

The insurer’s Manulife Bank has unveiled a banking package with perks aimed at appealing to a younger set: a one-year subscription to Amazon.com Inc.’s Amazon Prime service, a mobile app with artificial-intelligence features such as a chatbot and spending insights, a network of 3,500 bank machines including ones at Circle K stores, and monthly fees waived when savings are increased by C$100 ($75) a month.

“We want to be the best alternative to the big banks and attract millennial customers to help feed Manulife’s growth within Canada,” Manulife Bank Chief Executive Officer Rick Lunny said in an interview at the insurer’s Toronto headquarters. “What this does is attract younger customers to the Manulife brand.”

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