InsuranceForesters Financial works with Insurtech company dacadoo

PRNewswire PRNewswireJanuary 19, 20217 min

Foresters Financial™ (Foresters) announced today that it has teamed up with dacadoo ag (dacadoo) – the Zurich-based Insurtech specializing in digital health engagement and health risk quantification – to create a platform designed to empower and reward Foresters customers (members) who adopt lifestyles that embrace key aspects of overall well-being: physical, mental, and community-mindedness.

Foresters is a different kind of life insurer. As a fraternal organization, its mission is to enrich the well-being of its members and their communities, which has been its driving force for over 146 years. This initiative with dacadoo will bring the Foresters mission to life with a modern, fun, and scalable offering to members that aligns with the organization’s fraternal purpose.

“Many Insurtech platforms in the market today focus on the physical and mental aspects of health, but they don’t address the importance of purpose and giving back to your community, which has powerful well-being benefits,” said Jim Boyle, President and CEO of Foresters. “Our platform will integrate all of these aspects and stands out because we’re making it available to all of our members, not just the new customers.”

For the Everyday HERO

The Foresters dacadoo platform leverages wearable app-enabled technology and behavioral science to engage with members on a personalized basis. An interactive digital coach encourages users to engage with the platform, and each other, to drive long-term health goals and encourage giving back. Members will earn points for engaging in their personal journey, which they can redeem for rewards via an online rewards store. Reward categories will include merchandise (tablets, smart watches, and more), gift cards, or charitable donations. The reward choices number in the thousands.

By providing members with Health benefits; Engagement activities for members and families; Rewards earned through accomplishments; and Opportunities to give back to their local communities, the platform offers every member a chance to be a HERO.

“Our members who focus on improving their wellness, while also giving back through volunteer activities, are everyday heroes to their families and communities,” Mr. Boyle said. “As the life insurance provider that believes in helping those who help others, we’re proud to be creating this new platform that celebrates and rewards our members for their extraordinary commitment and accomplishments.”

Peter Ohnemus, President and CEO of dacadoo, said, “We are pleased to enter into this relationship with Foresters, our first partner that is a fraternal life insurer, and look forward to providing world-class solutions customized to their members. As a leader in digital health solutions, it is exciting to collaborate with Foresters on their differentiated, purpose-driven approach.”

The Foresters strategy: Life Insurance With A Larger Purpose

This dacadoo initiative is part of the Foresters strategy to grow through innovative member benefits, products, and service offerings that promote a lifetime of well-being, and align with Foresters fraternal purpose to enrich the lives of hard-working families and their communities. That’s life insurance with a larger purpose.

Member benefits include competitive academic scholarships, orphan benefits, complimentary access to diabetes management tools, learning and development resources, and online legal document preparation services. They also include opportunities for members to give back to their communities through local activities such as playground builds, and especially through Community Involvement Grants. One recent Foresters granting program called Caring Through Crisis (CTC) contributed more than $500,000 to help Foresters members provide local support to their community, while staying safe during the COVID-19 crisis.

Foresters is planning to introduce the new well-being platform to all its members within 2021.

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