An exciting new partnership – and the seamless integration of group benefits in a digital HR platform
On October 16, 2018, Sun Life Financial purchased a minority ownership stake in Rise People Inc. (Rise). Rise is the British Columbia-based company that first introduced Canada's one of a kind all-in-one digital HR platform, bringing HR, benefits, and payroll together.
Our investment is an active one – and we'll be working with Rise to provide an exceptional, fully-integrated HR and benefits platform early in 2019.
Simplifying HR for your clients
Our goal is to be the best digital provider in the Canadian market – and our partnership with Rise is a significant affirmation of this in a rapidly changing InsureTech world.
Our joint offering with Rise fills a critical market niche. While the demand for digital solutions continues to grow, small to medium-sized employers are often left behind as HR tech solutions focus on the large-employer market segment. Many of your clients with less than a few hundred employees can benefit from a digital HR platform that provides a comprehensive, leading-edge employee experience that is scaled and priced to their needs.
Rise built its digital platform specifically for the small to medium-sized employer and it will provide:
- HR simplicity. HR Teams will benefit from simplified "one and done" data entry and reporting, with a single portal for group benefits, payroll, and HR systems.
- An exceptional plan member experience. Plan members will enjoy an end-to-end digital solution, from new hire onboarding, to managing time-off, to benefits claim submissions and managing health – all through a single access point and with seamless integration to sunlife.ca.
- Strengthened advisor/client relationships. The Rise partnership is a great opportunity for you to provide additional value to your clients through the offering of a competitive, contemporary best-in-class digital solution. This leading InsureTech offering is the only one of its kind in the market that provides a complete digital HR platform solution that's directly integrated with a leading group benefits carrier.
Although the initial focus is on small to medium-sized employers who have their group benefits plan with Sun Life, we expect to work with Rise in a future phase to explore how we can extend their services to clients who also have their retirement savings plan with Sun Life. This “One Sun Life” approach means that everything clients need related to HR will now be in one place, including seamless integration with Sun Life.
Find out more
Similar to Sun Life, Rise is committed to supporting and enabling advisors and helping them build their businesses. As such, Rise will no longer function as a broker/advisor of record for Canadian businesses. Instead, Rise will become the technology backbone for an all-in-one experience, and will work strategically with brokers/advisors, rather than compete against them, to deliver this to Canadian small and medium-sized businesses. Throughout 2019, Rise will work with their existing clients on a strategy to support their exit as the advisor of record, transitioning them on renewal.
We'll continue to provide more details about this solution as they become available.