Manulife drives digital adoption in the MPF industry through its pioneering online application platform
Its web application allows for a straight-through processing digital journey for customers.
As the largest mandatory provident fund (MPF) scheme sponsor in Hong Kong1, Manulife has already started to transform the digital experience for its customers as well as intermediaries for quite some time.
Manulife is keen on continuously driving the MPF industry on digital take-up as it can see that more customers are starting to prefer using digital platforms for all kinds of transactions. It is expected to continue investing in digital experience for customers, leveraging the latest technologies.
In this regard, Manulife has introduced the “MPFTransferSimple.hk” website for its intermediaries to provide a simple, flexible, and straight-through processing digital journey for its customers to onboard and/or transfer to Manulife’s designated MPF scheme for Personal Account (PA), as well as Tax Deductible Voluntary Contribution Account (TVC).
MPFTransferSimple.hk offers both face-to-face sales journeys and non-face-to-face sales journeys for intermediaries as well as customers.
For face-to-face sales journeys, intermediaries are required to log in MPFTransferSimple.hk via two-factor authentication. They can help customers prepare and fill in the onboarding and/or transfer applications in advance to facilitate a simpler and faster customer journey.
Personal information of customers can be pre-populated by scanning the HKID card to capture their personal details using the OCR technology, offering a seamless journey. In traditional paper-based applications, multiple signatures from customers are required for several administration forms. With the MPFTransferSimple.hk, customers are given the convenience of signing once as compared to multiple signatures in traditional paper-based applications.
This web application also includes a dashboard for the intermediaries to manage and review the status of all applications and transfers served by them within 45 days.
Apart from assistance provided by intermediaries, there is also an option of a link shared by intermediaries to customers via WhatsApp, email or WeChat for non-face-to-face sales journeys, whereby customers can perform the application and/or transfer journey by themselves.
Manulife’s enablement of this seamless process in MPF PA & TVC application has been recognised by the Hong Kong Business Technology Excellence Awards 2022, crowning it as the
winner in the Digital - Insurance category. The prestigious awards programme honours outstanding companies that have made exceptional contributions in the pursuit of technological innovation in Hong Kong.