{"id":8063,"date":"2022-10-11T15:47:37","date_gmt":"2022-10-11T07:47:37","guid":{"rendered":"http:\/\/zestmag.com\/online\/?p=8063"},"modified":"2022-10-12T09:49:52","modified_gmt":"2022-10-12T01:49:52","slug":"manulife-reveals-change-in-family-dynamics-in-new-normal","status":"publish","type":"post","link":"http:\/\/zestmag.com\/online\/manulife-reveals-change-in-family-dynamics-in-new-normal\/","title":{"rendered":"Manulife reveals change in family dynamics in ‘new normal’"},"content":{"rendered":"\n

Filipino parents have thrived while children still struggle in the digital-by-default life of today\u2019s new normal, according to the results of a recent survey by Manulife Philippines. <\/strong><\/p>\n\n\n\n

The study, \u201cThe Modern Filipino Family: Exploring family dynamics and digitalization in the new normal,\u201d <\/em><\/strong>showed notable differences in the impact of the pandemic and digitalization within families, with some embracing new passions and hobbies, while others, particularly younger Filipinos, expressing digital fatigue.<\/p>\n\n\n\n

\u201cThis study has helped us to better understand how family\ndynamics have evolved during the pandemic, and how technology has impacted\nbehaviors at home and influenced everyday decisions. Identifying these shifts\nin behavior has been vital in helping us to better serve our customers,\u201d said Melissa\nHenson, Chief Marketing Officer, Manulife Philippines.<\/p>\n\n\n\n

Parents respond that while\ntheir well-being improved, their children experience struggle <\/strong><\/p>\n\n\n\n

In a survey run by Manulife in May 2022, reflecting on\nthe worst period of the pandemic,1<\/sup> 38% of Generation X and\nMillennial parents and 40% of Generation Z children said their well-being had\nsuffered, as they struggled with the restrictions imposed by quarantines and\nlockdowns. Across generations, they identified as the top negative pandemic\neffects: isolation from family or friends; financial difficulties; increased occurrence\nof negative emotions such as stress, fatigue, and depression; and a decline in physical\nactivities. <\/p>\n\n\n\n

The survey also revealed that, as restrictions eased and the\ncountry began its shift to the new normal, more than half of Generation X and\nMillennial parents (54%), and Generation Z children (51%) said their well-being\nhas improved compared to the peak of the pandemic. Stress levels also decreased\nfor 57% of the parents and 42% of the children. <\/p>\n\n\n\n

Gens X and Y Filipino\nparents attributed their improved well-being to better work-life balance and\n\u201cmore hands-on, more present\u201d parenting. Eighty-two (82%) of parents said they\nbonded more with their families, while 89% said their family ties got stronger.\nAs for fulfilling responsibilities, 72% of those surveyed said they are able to\ntake care of their kids more, and 74% can manage household chores. <\/p>\n\n\n\n

Filipino\nparents also discovered new hobbies and passions to pursue. Top interests are watching\nonline content (41%) and health and fitness (29%). They also delved more into finance\n(28%), diversifying their portfolio to include traditional and non-traditional\ninvestment products, and exploring sustainable investing. Parents have also become\nmore conscious of their health, with 31% going online to buy life and medical\ninsurance.  <\/a><\/p>\n\n\n\n

As Filipinos discovered new passions and interests,\nManulife Philippines launched its Every\nDay Better<\/a> digital content\nseries to provide practical tips and insights to support their evolving needs\nwhile looking after their financial future, in collaboration with some of the\ncountry\u2019s most influential content creators. <\/p>\n\n\n\n

For Gen Z children, however, they remain under a lot of\npressure and feel more stressed despite the improving pandemic situation.\nSpecifically, 54% shared that they are sleep-deprived; 68% experience stress,\nfatigue, and depression, while 55% are increasingly irritable. Thirty-two\npercent (32%) have also developed unhealthy eating habits. <\/p>\n\n\n\n

About 24% of Gen Z children also shared that they are\nstressed due to increased family conflicts, usually triggered by financial\nchallenges, household chores and obligations, and work and school demands. Fifty-six\npercent (56%) of Gen Z children surveyed also said they are concerned with the return\nof face-to-face classes, while 46% of them shared social media and keeping up with\nonline image put pressure on their looks. To help them cope, they actively\nsought more opportunities to take a respite from the digital world, as 65% have\nexpressed digital fatigue, prompting them to seek more offline interactions\nwith friends and family. <\/p>\n\n\n\n

Henson shared: \u201cAs\nFilipinos across generations become more settled in their new routines and\ndigital lifestyles, whether as families or as empowered individuals, Manulife\nremains committed to serving their evolving life and health protection needs.\u201d <\/p>\n\n\n\n

Responsible\nuse of personal data in a hyper-digital world<\/strong><\/p>\n\n\n\n

The Filipino home has become an all-in-one hub of digital activities for\nfamilies. Among those surveyed, 95% go online for leisure and entertainment,\nincluding streaming videos, playing mobile games, and listening to music; while\n92% communicate with family and friends through social media, instant\nmessaging, and video and voice calls.  <\/p>\n\n\n\n

To purchase food and products, 90%\nof respondents use e-commerce apps, while 82% use finance apps for cashless\npayments or to buy insurance. Sixty-four percent of Filipinos surveyed also\naccess health and fitness apps, while 45% use remote work apps as they embrace\nhybrid work setups. <\/p>\n\n\n\n

Amid a hyper-digitalized\nlifestyle, data privacy remains a\nkey consideration. However, across generations, they expressed that use of\ntheir personal data is acceptable when it is used to improve and personalize\ntheir experiences. Filipinos surveyed are open to personal data collection when\nit is used to: develop\nbetter products and services (80%); to serve them better (78%); and to show\nadvertisements for relevant products and services (68%). <\/p>\n\n\n\n

As one of the country\u2019s most trusted insurers, Manulife\nPhilippines continues to offer best-in-class financial products and services, while\nfostering trust and confidence among its customers and stakeholders through its\nstrong commitment to protect personal data, in adherence to the Philippine Data\nPrivacy Act.  <\/p>\n\n\n\n

Increasing interest in digital financial\nproducts for insurance and investments<\/strong><\/p>\n\n\n\n

Filipinos\u2019 positive\nexperiences with online transactions have influenced excitement and optimism\nfor digitalization, transcending into greater interest in purchasing insurance and\ninvestment products. Most Filipinos recognize the convenience (45%), sense of\nsecurity (22%), and protection (17%) that buying insurance online offers.  In the past 12 months, 25% of Generation X\nand 33% of Millennials bought insurance products online, while 41% of\nGeneration Z intend to purchase insurance products in the next 12 months. Top\ninsurance products purchased in the last 12 months were life insurance (28%); medical\/health\/accident\ninsurance (28%) and investment-linked insurance (10%). <\/p>\n\n\n\n

\u201cDriving our efforts\ntoward becoming the industry\u2019s digital customer leader, Manulife will continue offering\nseamless and intuitive end-to-end digital experiences. We will also provide Filipinos\nwith best-in-class protection plans and investment opportunities to help them\nachieve financial security and make their every day better,\u201d Henson said.<\/p>\n\n\n\n

Manulife\u2019s study, conducted\nin partnership with InSites Consulting via online self-completed questionnaires,\nsurveyed 500 Filipinos, aged 18 to 55, in May 2022 across the country. This\nincluded insurance and non-insurance owners. To download the full report, visit\nmanulife.pub\/TheModernFilipinoFamily<\/em><\/strong><\/a>.  <\/p>\n","protected":false},"excerpt":{"rendered":"

The study, \u201cThe Modern Filipino Family: Exploring family dynamics and digitalization in the new normal,\u201d showed notable differences in the impact of the pandemic and digitalization within families, with some embracing new passions and hobbies, while others, particularly younger Filipinos, expressing digital fatigue.<\/p>\n","protected":false},"author":3,"featured_media":8064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1810,2275,1914],"class_list":["post-8063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsmakers","tag-insurance","tag-insurance-industry","tag-insurance-policy"],"_links":{"self":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/comments?post=8063"}],"version-history":[{"count":1,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8063\/revisions"}],"predecessor-version":[{"id":8065,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/8063\/revisions\/8065"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media\/8064"}],"wp:attachment":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media?parent=8063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/categories?post=8063"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/tags?post=8063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}