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Partner in focus: The Definity Foundation

28 February 2024
The Definity Insurance Foundation is a Canadian registered charity, financed with $100 million of the proceeds of the demutualization of the Economical Mutual Insurance Company to represent past and present policyholders and employees. The Foundation has been entrusted with designing and supporting community initiatives that reduce the effects of social and economic inequality, increase the health and well-being of marginalized people, and slow the speed of climate change.

Prosper Canada is pleased to call the Definity Foundation as one of its key partners in our efforts to support financial empowerment (FE) initiatives across Canada.

In collaboration with other community partners across Canada, support from the Definity Foundation will strengthen community infrastructure to meet the evolving financial help needs of people living on low incomes by enhancing national and local backbone services that facilitate collaboration, mobilize new knowledge, advance upstream policy solutions and support the delivery of FE services (tax filing, benefit navigation and one-on-one financial help) that increase the financial wellbeing of low-income adults, in the following ways: 

  1. Animate a national Community of Practice  
  2. Develop defined FE service models to equip more organizations to launch, improve and/or expand effective services  
  3. Develop and scale uptake of a national, bilingual, online Benefit wayfinder Tool to help 100,000+ financially struggling Canadians to identify income benefits they are eligible for, but not receiving, and confidently apply 
  4. Build collaborative partnerships with Black-led/serving organizations and jointly pursue opportunities to expand FE service reach to these under-served populations    
  5. Collect, roll-up, and report selected national FE output/outcome data from participating FECs and delivery organizations to inform broader efforts to build financial wellbeing, reduce poverty, and mobilize sustained FE investment.  
  6. Formalize, strengthen, and coordinate the activities of Canada’s national FE Network to effectively advance national FE capacity building and sustainability goals.

Prosper Canada is immensely grateful for the unwavering support of the Definity Foundation in our mission to drive financial impact and uplift vulnerable Canadians through a diverse and inclusive network of Financial Empowerment Champions, who provide essential resources, education and problem-solving supports and collectively give hope and opportunity to those facing financial hardships.