Sun Life 2012 Annual Report Download - page 14

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UNITED STATES
“ We are now well-positioned
with the right products
and distribution capabilities,
service platform and talent
to execute effectively against
a market opportunity that
we are confident will only
continue to grow – generating
more stable, profitable
growth and significantly
increasing the value of our
U.S. franchise.”
WESTLEY V. THOMPSON
PRESIDENT, SUN LIFE FINANCIAL U.S.
There is a tremendous opportunity to innovate in the group benefits business and as we
build our voluntary benefits platform, we do so with an eye to creating an exceptionally
better enrollment experience.
11
WE’RE QUICKLY TRANSFORMING OUR U.S. BUSINESS TO LEVERAGE OUR
TOP 10 POSITION IN GROUP BENEFITS BY INVESTING IN THE VOLUNTARY
BENEFITS BUSINESS.
THIS TRANSFORMATION IS DRIVEN BY THE STRONG DEMAND FOR
VOLUNTARY BENEFITS AS GOVERNMENT AND EMPLOYERS DOWNLOAD
RESPONSIBILITY TO INDIVIDUALS. WE LIKE THE SHORTER DURATION,
LOWER CAPITAL NATURE OF THIS BUSINESS, AND WE HAVE THE ADVANTAGE
OF LEVERAGING THE TECHNOLOGY, PRODUCTS AND PROCESSES OF OUR
CANADIAN GROUP BUSINESS.
In 2012 we added new products, distribution talent, and new enrollment expertise
to build out our Voluntary Benefit platform. There is a tremendous opportunity
to innovate in the group benefits business, and as we build our voluntary benefits
platform, we do so with an eye to creating a distinctly better enrollment
experience for our customers. The Affordable Care Act, while centered on health
care, will undoubtedly impact our life, disability, dental and other products,
creating opportunities along the way.
Our Bermuda-based high net worth business is part of our U.S. reporting segment.
This business has good growth prospects, offering distinctive insurance and
investment products to high net worth clients around the world. Sun Life’s unique
business model and strong brand have contributed to our success in this business.
12
ENHANCE OUR
LEADERSHIP
POSITION IN U.S.
GROUP INSURANCE
& BECOME TOP 5
IN VOLUNTARY BENEFITS