Manulife’s AI-investments to deliver threefold ROI by 2027

The company realised over $600m in benefits in digitalisation efforts last year.

Manulife said that over 75% of its global workforce is actively using generative AI (GenAI) through training, immersive experiences, and tools, including its proprietary GenAI assistant, ChatMFC, launched in 2024. 

“Manulife expects their digital capabilities, including AI-enabled enhancements, to generate a threefold return on investment over five years through 2027 with over $600m of benefits,” it said in a press release.

In 2024 alone, the company realised over $600m in benefits from digital transformation efforts.

The company has been investing in AI solutions for nearly a decade, integrating them into daily operations across teams, geographies, and business units.

“By equipping our teams with GenAI tools, we’re enabling them to work smarter, move faster, and make a bigger impact,” Jodie Wallis, Global Chief Analytics Officer of Manulife, said in the press release.

As part of its digital transformation, Manulife has made a multi-billion-dollar investment in AI and cloud-based data platforms. 

The company has deployed 35 GenAI use cases across Canada, the US, and Asia, with 70 more set to roll out by the end of 2025. 

Its AI workforce includes nearly 200 global data scientists and machine learning engineers embedded across the organisation.

Manulife is also expanding AI applications beyond ChatMFC. Its AI-enabled translation tool provides real-time translations in nine languages.

Additionally, its Sales Enablement Tool, launched in Singapore and now expanding globally, delivers personalised insights to advisors. 

In North America, GenAI-powered solutions handle over 110 million customer calls annually, with plans to scale further in Asia.