Generali has announced it will be partnering with more services as it rolls out phase two of its group protection scheme.
In July, the launch of the Wellbeing Investment Matching service saw Generali partner with wellbeing services such as Optum, Babylon and Doctor Care Anywhere.
In phase two, the latest service partners include: Nuffield Health, ToHealth, Randox Health and Check4Cancer.
The services available to group protection clients include: virtual and artificial intelligence GPs; health assessments; fitness solutions; health tracking/self-help monitoring; whole body screening; advanced blood testing; and cancer detection services.
Generali said the initiative was a response to feedback from consultants and clients who wanted more support with wellbeing schemes.
A third phase is expected before the end of the year.
Service provider Jackie Wishart, sales director from Check4Cancer, said the investment matching for cancer screening was “a very worthwhile project that will have positive outcomes.
“Detecting cancer saves lives and helps mitigate the financial and strategic risk faced by UK-based multinationals.”
Alaana Linney, director of business development at Nuffield Health, added: “Investing in preventative health strategies has a direct return on investment in key areas such as drop in lost work days and access to gross income protection schemes.”
A report from group risk industry body Group Risk Development (Grid) found that group risk is often considered an employee benefits staple, but rarely ground-breaking, and commonly associated with large, unfortunate life events.
But many group risk products have superb built-in support services that can be hugely beneficial to staff if they know where to look.
Grid research showed half of employers knew the extent of services available via group risk benefits, so it followed that even fewer employees will.
Provider view:
Simon Thomas, director of UK Employee Benefits at Generali said: “Help was needed with the hurdle often faced in trying to support group income protection clients with the implementation of new and much needed wellbeing initiatives.
“The financial support for clients is only the start though. Further gains can be made over time thanks to improved claims experience and employee outcomes.”
Adviser view:
Alan Lakey principal at Highclere Financial Services said: “These upgrades follow a recent trend towards additional benefits that probably originate with the Vitality wellness concept.
“Both insurers and employers are benefitting from better medical care and alternative diagnosis initiatives which serve to limit workforce absence, improve employees health and simultaneously reduce insurer payouts.
“These are valuable benefits and are welcome.”
Charges:
N/A
Verdict:
Limiting workforce absence is a continuous challenge for firms. So, having a programme like this one from Generali means that insurers and employers and their employees can benefit from medical care and alternative diagnosis initiatives.
Additionally, making the programme interactive, creative and fun will engage employees even more.
