Great West Life Assurance Canada – In 2019, Canada Life rebranded Great West Life, Canada Life and London Life under the revamped Canada Life brand. Regardless of the value created by combining three branded businesses under one brand, Canada Life’s brand value increased by 150% (Figure 1).
Since then, they have increased their brand value by 150% (not including the value gained by the merger). In addition, their brand moved from an A+ (“Strong”) brand rating to a AAA- (“Very Strong”) rating and significantly increased its strength by joining the elite group of world-leading insurance brands like Allianz, AIA. Ping-on and Keiko.
Great West Life Assurance Canada
In Brand Finance’s annual insurance survey, the Canada Life brand performed exceptionally well in its home market, demonstrating high levels of awareness and willingness to buy, as well as highly positive attitudes toward other attributes such as its reputation and customer service.
Canada Life: First Insurance Brand To Crack Top 5
Despite the challenging economic conditions caused by the Covid-19 pandemic, Canada Life continued to develop and invest in its brand, showing only a slight decline in brand value in 2021. They rebounded significantly in 2022, increasing brand value by 51%.
The brand’s journey over the last 3 years provides a concrete example of a successful rebranding and the positive impact it can have on both a brand and a business when the right brand strategy is behind it.
In times of crisis, marketing budgets are often cut, but in 2021, Canadian life seemed to be everywhere. What’s behind the For Life As You Know It™ campaign?
At the start of the pandemic, we knew Canadians needed expert guidance and advice more than ever. That’s why we launched our Little Expert Advice campaign — to show Canadians that we’ve been with them every step of the way.
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When we launched our first full brand campaign, For Life As You Know It, we carefully considered the needs of Canadians. It must reflect our company’s mission to improve the financial, physical and mental well-being of Canadians, and ensure it is recognizable – no matter who’s looking at it at the time, where they live or what their reality is. .
Due to the success of our campaign, we have renewed it in 2021 to further reflect the diversity of Canadians. Introducing children and their future selves helps show the varied and unique lives we each lead.
Now it’s a job seeker’s market. What does Canada Life do to make its employees stand out from the crowd?
Our staff and consultants know they make a difference. They have a voice and are empowered to effect change. Throughout the pandemic and as we move toward a new, hybrid way of working, they have always been included in the discussion: open communication is part of our DNA.
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Our company culture is built on caring for each other, our customers and our community. This is evident in the wellness programs we offer, such as flexible working hours, mental health benefits and educational financial aid.
Above all, our company culture is reflected in the pride our employees take in us. In our 2021 annual workforce survey of more than 10,000 employees, 84% of top employees reported high engagement—putting us in the top quartile of Canadian companies. Considering how difficult it has been for everyone to juggle their work and personal lives over the past two years, we are especially proud.
The offerings of insurance and banking sectors are increasing. What is the strategy to win the minds of customers who still consider the two sectors different?
At Canada Life, our customers are at the heart of what we do. What really sets us apart is the trust we’ve built among Canadians with products that compete in the market.
Canada Life Building
Whether investing in an insurance policy or opening an RESP for a child, trust is built through the dedication of our staff and advisors to help our clients reach their potential every day.
From a brand perspective, we drive interest through advertising, but win customers through daily interaction. It’s about fulfilling the promises we make every day.
Canada Life and Design and For Life As You Know It and Design are trademarks of Canada Life Assurance Company.
Brand Finance is the world’s leading independent brand and strategy consultancy. Headquartered in London, we are present in 20 countries.
Great West Lifeco Combines Brands Under Canada Life » Strategy
For nearly 30 years, we’ve been helping companies and organizations of all kinds align their brands with profitability.
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We Direct Bill Great West Life
Effective immediately, The Great-West LifeAssurance Company, London LifeInsurance Company and The Canada LifeAssurance Company will begin transitioning to one brand in the Canadian market. This newly formed Canada Life brand builds on the proud history of three companies that began over 170 years ago. Canada Life will become a new brand. Under it the company will develop, manufacture and distribute products and services in Canada across all its lines of business.
“Today marks the beginning of a new and exciting chapter for our companies in Canada,” said President and CEO Paul Mahon. “Bringing our companies under one brand will allow us to provide a simplified and unified experience for our clients, advisors and consultants, focusing on what matters most – helping Canadians reach their full potential every day.”
Along with the transition to the new brand, Great-West Life, London Life, Canada Life and their holding companies Canada Life Financial Corporation and London Insurance Group Inc. have formally begun the process of incorporation into one entity, The Canada. Life Assurance Company. . This initiative is separate, but integrated, moving to a single brand and further simplifying the business. The proposed combination is a multi-step process that will occur only after obtaining necessary board, regulatory and policyholder approvals. More information will be provided in the coming months.
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“New Canada Life is positioned for continued growth and success,” said Jeff Macoun, president and chief executive officer of Canada Life. “Together with our employees, advisors and consultants, we are encouraged and confident about the challenge ahead. As a brand, we will provide a unified voice, product and service offering and a simplified experience for customers, advisors and consultants.
More than 11,000 employees across the country will continue to work from our five main offices in Winnipeg, London, Toronto, Montreal and Regina, as well as other offices around the country. This notification will not affect your work.
“Our employees play a vital role not only in the growth of our company, but also in the trusted relationships we have built with our clients, consultants and advisors,” said Macon. “Under the new Canada Life brand, we will make it easier to serve our clients, advisors, consultants and their communities.”
Quadrus Investment Services Ltd., Freedom 55 Financial, GWL Realty Advisors and GLC Asset Management Group Ltd. will retain their existing brands. Great-WestLifeco’s US and European operations will not be affected by this change.
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About Great-West Life, London Life and Canada Life Together with Great-West Life, London Life and Canada Life, Canada’s leading insurers are dedicated to improving the financial, physical and mental well-being of Canadians. United under the new Canada Life brand, we’re helping Canadians realize their potential every day. Our customers across Canada trust us to ensure their financial security and deliver on our promises. Together, we serve the financial protection needs of more than 13 million people across Canada and are a leader in providing a broad range of insurance and wealth management products and services to individuals, families and business owners from coast to coast.
Canada Life is a leading provider of insurance, wealth management and benefits services focused on improving the financial, physical and mental well-being of Canadians. For over 170 years, individuals, families and business owners across Canada have trusted us to provide quality service…
Great-West Lifeco is an international financial services company with interests in life insurance, health insurance, pension and investment services, asset management and reinsurance. We operate in Canada, the United States and Europe under the brands… Great-West Lifeco Inc. projects.
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