Manulife gets up close and digital with the financial and mental well-being of Gen Z and Millennials

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Manulife Philippines found new ways to engage with its customers during the pandemic, recognizing their challenges while encouraging them in building financial independence and mental toughness

The challenge

Manulife is one of the largest financial-service companies in the world, with operations in Asia, Canada and the United States. They have a mission to make customers’ everyday better. In the Philippines, many of Manulife’s customers are Millennials and Gen Zers. During the pandemic, Manulife shone the spotlight on the challenges, attitudes and behaviour of these generations, to understand how the company can serve them better and help them achieve a healthy and financially secure future.

The Green Room - Manulife's Online Insight Platform

Our solution

InSites Consulting conducted a two-stage approach to help uncover the financial attitudes and habits of Gen Z and Millennials during the pandemic. First, we used The Green Room, Manulife’s online insight community, alongside desk research, to develop qualitative themes on Gen Z. Second, we conducted an online quantitative survey to validate the acquired information. Key findings included:

  • Gens Y and Z have become more financially conscious during the pandemic, recognizing the role that financial education and preparedness play in building a more financially secure future. 
  • Gen Zers expressed a heightened concern about declining mental health, showing the importance of taking active steps to achieve mental wellness, especially when they are rooted from financial worries and insecurity. 
  • Millennials have become more focused on growing their money, empowering themselves to be more financially savvy and to take charge of their future, through a balanced approach to risk and protection when it comes to their investment choices.

The impact

Findings from this study were published as a white paper through Manulife’s website and social-media channels. It formed part of a range of ongoing marketing and product launch initiatives encouraging young people to build financial resilience during the pandemic, e.g., Money and life advice from Millennial women on top of their game: Hidilyn Diaz, Sarah Geronimo, and Heart Evangelista.

Melissa Henson, SVP & Chief Marketing Officer at Manulife Philippines
“Listening to customers through our online insight community has allowed us to deepen the trust of our customers, with insights on their everyday needs ultimately helping us deliver more flexible solutions.”

Melissa Henson, SVP & Chief Marketing Officer at Manulife Philippines

Want to explore how your brand can connect with Gen Z? Discover what our research toolbox and expert power can do for your brand!

Ready for the Zoomers - Gen Z report

Ready for the Zoomers?

Gen Z are the digitally native generation: social-media-literate, always-on and hyper-informed. With many Gen Zers coming of age during the pandemic, the past two years put a mark on their lives and outlook on the future. In this report, we shed a light on what makes Gen Z different from the generations before them and what they expect from brands.

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