John Hancock, together with its Toronto-based guardian firm Manulife (NYSE:MFC), right this moment introduced a five-year, multimillion-dollar analysis collaboration with the Massachusetts Institute of Expertise (MIT) AgeLab, a multi-disciplinary analysis institute that works with enterprise, authorities, and NGOs, main innovation and analysis to assist enhance the standard of life for the growing old inhabitants and their family members. Over the subsequent 5 years, Manulife/John Hancock and the MIT AgeLab will collaborate to analysis the way forward for longevity innovation, creating analysis, thought management, and workshops with the purpose of driving actionable insights for the enterprise neighborhood, policymakers, and people and their households.
The World Economic Forum (WEF) studies that by 2050, the variety of folks aged over 60 is anticipated to double to 2.1 billion. But, one-fifth of a person’s life, on common, is now anticipated to be lived with morbidity or in a state of sickness. Lifespans and healthspans should not evenly distributed on the nationwide or international degree: a big final result of socioeconomic and environmental disparities. As such gaps broaden, so does the necessity for quick motion to deal with what’s already a significant longevity disaster in our communities and the world at giant. Because the growing old inhabitants grows, higher understanding the intersection of well being and wealth, together with preventative well being measures and retirement planning, can be paramount.
“The fastest-growing age cohort on the earth is folks over 85. As we proceed to see folks dwell longer lives, it’s essential that we acquire new perception into how we will make longer lives synonymous with higher and more healthy lives,” mentioned Brooks Tingle, president and CEO, John Hancock. “We basically consider in serving to make this a actuality and know that this ambition doesn’t begin and finish throughout the partitions of our enterprise. That’s why we’re dedicated to collaborating with leaders within the area, just like the MIT AgeLab, to assist present others—from policymakers to business leaders to healthcare advocates—with crucial learnings that may scale our shared mission to drive higher well being and wealth outcomes.”
This analysis will discover the crucial tenets of longevity in the USA and hopes to develop a first-of-its-kind longevity preparedness index, to be produced yearly over an preliminary five-year interval. As lifespans proceed to extend worldwide, the index will measure the readiness of People from each technology to dwell an extended, more healthy, and higher life; and supply data-driven insights for maximizing monetary planning, well being and wellness habits, work and retirement transition planning, housing selections, end-of-life planning, and technological advances that help crucial well being and monetary wants at every step of the growing old course of. Analysis on the primary annual index will start within the spring of 2024. The index is anticipated to broaden to incorporate Canada because the collaboration evolves.
MIT AgeLab founder and director Dr. Joseph Coughlin will lead this work with a group of social and information scientists together with specialists outdoors of MIT. Along with the index, the group will host a number of workshops all year long to have interaction in discussions and activations round longevity, generational dynamics, new know-how, and behavioral insurance coverage. Manulife/John Hancock has additionally joined the MIT AgeLab PLAN, an business consortium analyzing how the enterprise of recommendation would possibly higher put together folks to dwell 100 good years.
“My analysis group is happy to embark on this analysis collaboration with Manulife/John Hancock,” mentioned MIT AgeLab’s Coughlin. “The spirit of MIT is to assume and do. We wish not solely to establish the numerous completely different dimensions of what it takes to dwell longer, higher; but in addition to measure the preparedness of a nation to dwell 100 good years. It’s our shared goal that our work will educate and encourage folks to do what it takes for themselves, their households, and their communities—to show an extended life into a greater life for all.”
The MIT AgeLab, based mostly inside MIT’s Middle for Transportation & Logistics, is understood internationally for its multi-disciplinary work exploring avenues of pragmatic, actionable innovation desired by, and helpful to, growing old shoppers and staff, in addition to their family members. This ongoing undertaking spans sectors together with automotive, healthcare, caregiving, housing and neighborhood design, and monetary companies; and impressed Coughlin’s bestselling 2017 e-book, The Longevity Economy.
This announcement helps Manulife’s Impression Agenda, which seeks to empower sustained well being and well-being, and builds on John Hancock’s inaugural Longer. Healthier. Better. Symposium hosted in Boston in September of 2023, the place international leaders throughout private and non-private sectors convened to share the most recent analysis and improvements driving the way forward for longevity. Globally, Manulife was proud to help WEF’s not too long ago introduced Longevity Economy Principles, which supply a strategic strategy to addressing the international longevity disaster. Manulife additionally not too long ago introduced a multi-year partnership with UpLink, WEF’s open innovation platform, designed to assist form the way forward for, and funding in, longevity innovation.
Be taught extra about Manulife, John Hancock, and the MIT AgeLab.
About John Hancock and Manulife
John Hancock is a unit of Manulife Monetary Company, a number one worldwide monetary companies supplier that helps folks make their choices simpler and lives higher by offering monetary recommendation, insurance coverage, and wealth and asset administration options. Manulife Monetary Company trades as MFC on the TSX, NYSE, and PSE, and underneath 945 on the SEHK. Manulife could be discovered at manulife.com. One of many largest life insurers in the USA, John Hancock helps greater than ten million People with a broad vary of economic merchandise, together with life insurance coverage and annuities. John Hancock additionally helps US traders by bringing main funding capabilities and retirement planning and administration experience to people and establishments. Further details about John Hancock could also be discovered at johnhancock.com.
