Health and protection insurance usage surged 55% in 2022 - ABI - Health & Protection (https://lnkd.in/eJmZi8ff) Usage of health and protection insurance has risen and continues to rise since the pandemic. Some stats reported by the ABI have highlighted the following: Almost 1.8 million people accessed health services through health and protection insurance in 2022, up 10% from 2021, with each person accessing support five times on average. The total figure of 1.77 million people using insurance to get treatment was also up 55% from 2019. The ABI also emphasised the significant rise in the number of times people were using health services through their cover. This increase was from 3.5 times per person on average in 2021 to five times on average in 2022. Usage of remote GP services has also risen considerably. In 2022 there were nearly nine times more virtual GP appointments through insurance than in 2019 before the pandemic. For mental health counselling, insurers arranged 1.2 million mental health counselling and therapy appointments in 2022. Of that total 94% were accessed through a workplace scheme, with 192,000 of the 200,000 people who used the services using workplace insurance. These patterns of usage are mirroring trends within WPA’s business. Usage of plans overall has increased but people are making multiple claims a year on their plan whereas in the past it was not used this frequently. If you are concerned about not having cover then please feel free to get in touch for free advice and no obligation quotes. [email protected] 07954 402863 #healthinsurance #privatemedical #health
Michelle Wimsey Cert CII’s Post
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🌟 The Future of Health Insurance: What’s Next in 2025? 🌟 Health insurance is evolving faster than ever! From AI-powered claims to personalized plans and expanded mental health coverage, discover the trends that are reshaping the industry. 💡 Ready to see what these changes mean for you? Check out our latest blog and stay ahead of the curve! 👉 https://lnkd.in/eD4UdwBp #HealthInsurance #Wellness #InsuranceTrends #SwitchHealth #FutureOfHealthcare
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Mental health coverage is becoming a key factor in health insurance choices across the Asia-Pacific, according to a survey. A notable 18% view it as essential, while 41% find it important. Indonesians lead the way at 28%, with Australians close behind at 21%. Plus, 63% are willing to pay more for better mental health services, showing it’s gaining traction. #mentalhealth #healthinsurance #mentalhealthcoverage
Mental health coverage gains traction among APAC insurance consumers
insurancebusinessmag.com
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Digital Tools for Health and Wellness in Insurance! I. Digital Health in Insurance Many insurers (in the health and life sectors) have seized on the fast growing digital ecosystem to launch digital tools designed to improve the health and wellness of policyholders, offering a potential win-win for policyholders (e.g. better health through prevention) and insurers (e.g. reduced claims). II. Benefits for Insurers 1. Cost containment and savings through a possibly reduced claim incidence and severity 2. Enhanced data collection and analysis, leading to improved customer insights and potentially improved underwriting ability 3. Product differentiation and competitive advantage 4. Enhanced customer acquisition, engagement and retention III. Benefits for Policyholders 1. Awareness of health, wellness, and disability risks and related preventive measures 2. Knowledge, tools, and services to help prevent the onset of medical conditions 3. Earning of potential rewards and discounts 4. Improved communications with health, wellness, and care providers and their insurer 5. Coverage or enhanced coverage of individuals with certain health conditions, which would have otherwise not been possible 6. Potentially improved health and wellness outcomes, and minimising time away from work IV. Challenges 1. Insurance companies coming into this area need to build up the necessary expertise 2. Expected increased engagement with policyholders may raise expectations, regarding the types of services and benefits they should be receiving 3. Expectations of policyholders as they embark on health and wellness strategies 4. The network of agents and brokers, who may not be well placed to engage with policyholders on these new types of services and tools V. Insurance Specific Issues 1. Extent to which insurers can provide non-insurance services 2. Consumer suitability 3. Fair competition 4. Fairness and non-discrimination in underwriting VI. Conclusions 1. Introduction of a new dynamic into insurance: The development of digital tools to promote health and wellness introduces a new dynamic into insurance, based on new technologies and behavioural economics 2. Promotion of general wellness and activity are often the intended objective of applications, although uncertainty on sustained changes in behaviour 3. Importance of privacy and data security for consumer trust and acceptance 4. Insurance regulatory framework is generally permissive, with necessary safeguards nonetheless in place 5. Reputational considerations: Given that the provision of health and wellness tools represent a new area of activity for insurers, creating new sets of expectations for policyholders and possibly involving outsourcing to external providers, reputational risks need to be carefully managed Check out the report by OECD - OCDE: https://lnkd.in/dctKWhs5 #innovation #digitalhealth #healthtech #insurtech #insurance
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Yes alot of health and wellness digital tools that can be helpful for insurance that we were also looking at with Telosity Ventures and when I was at Kaiser Permanente, AIG and Blue Shield of California. Thank you and Agree with report and Frank Kumli . Exploring what is value for your customer and company? how does it integrate with your business and operations? is it easy to implement and use for your customers and employees? What is adoption and retention rates?
Digital Tools for Health and Wellness in Insurance! I. Digital Health in Insurance Many insurers (in the health and life sectors) have seized on the fast growing digital ecosystem to launch digital tools designed to improve the health and wellness of policyholders, offering a potential win-win for policyholders (e.g. better health through prevention) and insurers (e.g. reduced claims). II. Benefits for Insurers 1. Cost containment and savings through a possibly reduced claim incidence and severity 2. Enhanced data collection and analysis, leading to improved customer insights and potentially improved underwriting ability 3. Product differentiation and competitive advantage 4. Enhanced customer acquisition, engagement and retention III. Benefits for Policyholders 1. Awareness of health, wellness, and disability risks and related preventive measures 2. Knowledge, tools, and services to help prevent the onset of medical conditions 3. Earning of potential rewards and discounts 4. Improved communications with health, wellness, and care providers and their insurer 5. Coverage or enhanced coverage of individuals with certain health conditions, which would have otherwise not been possible 6. Potentially improved health and wellness outcomes, and minimising time away from work IV. Challenges 1. Insurance companies coming into this area need to build up the necessary expertise 2. Expected increased engagement with policyholders may raise expectations, regarding the types of services and benefits they should be receiving 3. Expectations of policyholders as they embark on health and wellness strategies 4. The network of agents and brokers, who may not be well placed to engage with policyholders on these new types of services and tools V. Insurance Specific Issues 1. Extent to which insurers can provide non-insurance services 2. Consumer suitability 3. Fair competition 4. Fairness and non-discrimination in underwriting VI. Conclusions 1. Introduction of a new dynamic into insurance: The development of digital tools to promote health and wellness introduces a new dynamic into insurance, based on new technologies and behavioural economics 2. Promotion of general wellness and activity are often the intended objective of applications, although uncertainty on sustained changes in behaviour 3. Importance of privacy and data security for consumer trust and acceptance 4. Insurance regulatory framework is generally permissive, with necessary safeguards nonetheless in place 5. Reputational considerations: Given that the provision of health and wellness tools represent a new area of activity for insurers, creating new sets of expectations for policyholders and possibly involving outsourcing to external providers, reputational risks need to be carefully managed Check out the report by OECD - OCDE: https://lnkd.in/dctKWhs5 #innovation #digitalhealth #healthtech #insurtech #insurance
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Ever wondered how group health insurance works? 🤔 Group health insurance, particularly in India, stands out from other insurance types. The benefits it offers to employees are numerous. It's a unique system where employers provide health coverage to their team, creating a win-win situation for everyone. The employees get their health needs covered, and the company fosters a healthier, happier work environment. Understanding this type of insurance can be a game-changer in how we perceive employee benefits. Let's discuss, what are your thoughts on group health insurance?
How to work group health insurance
https://usawire.com
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Dream job? 1 in 3 would reject it over health insurance concerns A new survey has revealed one in three Americans would turn down a dream job if it didn't offer good health #insurance options. The poll of 2,000 U.S. adults found three-quarters (73%) consider health care options an important factor if they were looking for a new job, and 63% wouldn't be afraid to ask about their options during a job interview. The Suburban Newspaper Talker Research (formerly OnePoll U.S.) #TalkerResearch #HealthInsurance #Health #Economy #Employment #Insurance https://lnkd.in/gnZPJJy2
Dream job? 1 in 3 would reject it over health insurance concerns
thesuburban.com
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💼 Health Insurance as a Top Priority for Job Seekers 💼 A recent survey reveals a striking insight: 1 in 3 Americans would turn down their dream job if it lacked adequate health insurance coverage. This finding underscores the undeniable importance of health benefits in today’s job market, where competitive packages are not just perks but essentials. For employers, this means investing in comprehensive health coverage isn’t just a benefit—it's a key factor in attracting and retaining top talent. Employees are prioritizing health security and peace of mind, making robust insurance options crucial to fostering a committed, satisfied workforce. Is your benefits package meeting today’s expectations? Let’s talk about enhancing your offerings to create a workplace where employees feel valued, secure, and engaged. 📧 [email protected] 📞 Direct: 407-862-5900 📍 2211 Lee Road, Suite 100, Winter Park, FL 32789 #EmployeeBenefits #HealthInsurance #TalentAttraction #HR #FringeBenefitPlans
Dream job? 1 in 3 would reject it over health insurance concerns
msn.com
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💼 Health Insurance as a Top Priority for Job Seekers 💼 A recent survey reveals a striking insight: 1 in 3 Americans would turn down their dream job if it lacked adequate health insurance coverage. This finding underscores the undeniable importance of health benefits in today’s job market, where competitive packages are not just perks but essentials. For employers, this means investing in comprehensive health coverage isn’t just a benefit—it's a key factor in attracting and retaining top talent. Employees are prioritizing health security and peace of mind, making robust insurance options crucial to fostering a committed, satisfied workforce. Is your benefits package meeting today’s expectations? Let’s talk about enhancing your offerings to create a workplace where employees feel valued, secure, and engaged. 📧 [email protected] 📞 (941) 757-3682 📍 9040 Town Center Pkwy, Lakewood Ranch, FL 34202 #EmployeeBenefits #HealthInsurance #TalentAttraction #HR #KandPBenefits
Dream job? 1 in 3 would reject it over health insurance concerns
msn.com
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"Attention all small business owners! Are you looking for ways to improve employee satisfaction and retention? Look no further than health insurance. In our latest blog post, we dive into the importance of offering health insurance as a key factor in keeping your employees happy and committed. With insights on how it can boost productivity, reduce turnover costs, and attract top talent, this article is a must-read for any business owner. Don't miss out on unlocking the potential of a healthier and happier workforce - read more at https://bit.ly/3TAuLgE #smallbusinesses #healthinsurance #employeesatisfaction #retention #productivityboost"
Health Insurance for Small Businesses: A Key to Employee Satisfaction and Retention
https://cisforme.com
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