Insurance customers across Asia have started adopting healthier lifestyles amid the anxiety caused by the pandemic. While the under-insured regions in Asia are showing more interest in insurance protection, mature markets are focusing on better health.
The Manulife Asia Care Survey 2020 conducted across eight Asian markets in May this year studied the long-term impact of the pandemic on local economies, insurance buying habits and personal wealth.
According to the survey around 50% of policyholders said that getting more physically healthy was a new habit they have formed since the pandemic and 41% of the respondents expect to continue with healthier ways of living in the next 18 months.
At the same time, 33% of the respondents have also started monitoring their mental health status, with around a quarter (24%) of them saying they intend to incorporate mental wellbeing into their daily lifestyle over the next 18 months.
Manulife says the emerging pattern is significant because if policyholders can make these new habits stick, or more of them start to adopt these new ways of living, there would be major benefits over the longer term. The survey findings point to fitter, healthier people regionwide in 18 months’ time. That could potentially have profound benefits for local healthcare services and individuals’ quality of life.
Manulife Asia president and CEO Anil Wadhwani said, “The survey provides a closer understanding of customers’ concerns, priorities and aspirations.”
The survey included 2,400 insurance policyholders and covered mainland China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore and Vietnam. All those surveyed were current insurance customers who own Manulife or other insurers’ policies.