JOHN HANCOCK AND MUNICH RE LIFE US COLLABORATE TO ENHANCE UNDERWRITING AUTOMATION — Enhanced alitheia Platform Improves Individual Life Insurance Application Process to Drive Instant Underwriting Decision Rates for Customers

BOSTON, September 11, 2025 – John Hancock and Munich Re Life US have teamed up to drive enhanced automation and underwriting efficiency via Munich Re’s rapid risk assessment platform, alitheia, which offers carriers the flexibility to adopt a comprehensive end-to-end risk solution or selectively incorporate components into existing underwriting programs.

To give more eligible customers the opportunity to receive instant underwriting decisions, John Hancock is now using alitheia’s suite of proprietary models, including automated electronic health record (EHR) assessments, in its proprietary individual life underwriting approach – John Hancock ExpressTrack^®1. alitheia maintains some of the highest instant offer rates in the industry (with carriers often doubling or tripling prior rates) and a significant portion of decisions are made quickly—often within just a couple of days.² Carriers can tailor the platform to their workflows and systems, leveraging its robust risk assessment capabilities to support timely, accurate decision-making.

Through this collaboration, John Hancock has expanded ExpressTrack eligibility to face amounts up to and including $5M, enabling even more customers to receive a streamlined experience.

“In today's rapidly changing and technology-driven world, we are continually focused on enhancing the buying experience for consumers and making it easier for advisors to do business with us,” said Hector Martinez, Head of Insurance, John Hancock. “We were able to optimally configure alitheia to leverage the industry’s most advanced technology while retaining our trusted underwriting philosophy. We’re proud of the strong reputation we have built as leaders in underwriting innovation and for our highly competitive underwriting decisions, even on the most complex cases. With alitheia, we can continue to offer improved customer and advisor experiences with deeply informed automated approval decisions on more cases than ever.”

alitheia was designed to leverage machine learning and AI across the platform, including to structure the complex medical text often found in EHRs and other sources. It credibly and precisely assesses mortality risk by maximizing the value of every dollar spent on underwriting evidence, helping carriers control acquisition costs. This is achieved through patented technologies that optimize the sequence of requirements for each applicant and apply natural language processing (NLP) to categorize free-form text responses and assess risk. These innovations streamline the underwriting process while enhancing decision accuracy.

“Enabling carrier success is what has driven us to create and continually enhance alitheia," said Mary Forrest, President and CEO, Munich Re North America Life. "Our aim is to provide a 'data-first' approach to underwriting and with alitheia’s expanded capabilities, including a rules designer and underwriter workbench, we can now deliver a strategic solution customized to every carrier’s unique needs. With greater configurability options, and the ability to automate without sacrificing mortality, alitheia has the potential to transform life insurance underwriting."

To learn more about John Hancock visit www.johnhancock.com and to learn more about alitheia visit https://www.munichre.com/us-life/en/digital-solutions/alitheia.html.

About John Hancock and Manulife

John Hancock is a unit of Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities. John Hancock also supports US investors by bringing investment capabilities and retirement planning and administration expertise to individuals and institutions. Additional information about John Hancock can be found at johnhancock.com.

About Munich Re Life US

Munich Re Life US, a part of Munich Re Group, is a leading US reinsurer with a significant market presence and extensive technical depth in all areas of life and disability reinsurance. Beyond its vast reinsurance capacity and unrivaled risk expertise, the company is recognized as an innovator in digital transformation and aims to guide carriers through the changing industry landscape with dynamic solutions insightfully designed to grow and support their business. Learn more at https://www.munichre.com/us-life/en.html

Media Contact:

News@jhancock.com

Policy issuance is not guaranteed as any life insurance purchase is subject to completion of an application, including health questions, and underwriting approval. John Hancock may obtain additional information, including medical records, to evaluate the application for insurance; and after the policy is issued, to identify any misrepresentation in the application.

Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.

MLINY090925756-1