Preventative program supports employee mental health during COVID

Preventative program supports employee mental health during COVID

Preventative program supports employee mental health during COVID

COVID has brought about significant and wide-reaching change in almost every aspect of human life. However, one area where we are yet to fully appreciate the cost is on our collective mental health. While we haven’t seen the full impact of long-term isolation or trauma on the Australian workforce, we do know it is coming.

Acknowledging this very issue, the Federal Government pumped an additional $500 million into suicide prevention and mental health support as part of their COVID-19 response.

Many employers have hotlines set up to deal with mental health issues as they arise. Mercer Marsh Benefits and Recovre have joined forces with Integrity to deliver a unique response to this unprecedented challenge.

Launching last November and continuing into June this year, an innovative and interactive pilot program has been created to support positive mental health in the workplace through a series of online workshops for employers. The aim is to support participants and give them the skills to navigate life in the context of challenges and pressures we haven’t seen in our lifetime. The hope is that these skills improve workplace culture, personal outcomes and prevent mental health issues escalating into more serious conditions.

David Fraser, Head of Group Life & Disability Insurance at Mercer Marsh Benefits, said: “The importance of health and wellbeing engagement, not only from a claims preventative perspective, but also allowing employers to engage and support their employees in uncertain times underpins the Mercer Marsh Benefits philosophy.”

Feedback from the initial delivery of the program has been very positive, both in terms of the program content and having access to such a program – something that is not always available to smaller enterprises.

The Employees health & wellbeing workshops for leaders.

The Integrity Life workplace wellbeing workshops are specifically designed for Integrity Life SME employers from various industries and sectors and of all sizes.  These workshops provide easier access to training and expert knowledge that are relevant for SME leaders and managers in employees’ wellbeing.  By supporting the leaders in their organisations with relevant and practical solutions, employers can create a healthy and productive workplace for the employees, no matter how small or large their organisation size is. 

People are the most valuable asset a company has, particularly in the current tight employment market. These workshops are designed to provide support and care for your employees, to help instill a culture of health and wellbeing that will not only get the maximum benefits for the company, but also importantly provide the information and guidance individuals need to live healthy lifestyles for themselves, family, and friends. 

Integrity Life

Integrity Life

From the newsroom

Why it matters to have a partner for life.

Why it matters to have a partner for life.

Why it matters to have a partner for life.

In business (as in life) things are a lot easier when you have the right partner. Because when you have the right partner, you’re supported to succeed together, whatever comes along. You may have seen us talking a bit about being a ‘partner for life’. But aside from being a bit cute, what do we actually mean?

We’re in this together.

Partnerships are about serving the interests of both parties to succeed together. We have seen across our industry, challenge after challenge, which has then been compounded by things like COVID-19. A partnership with Integrity means…

  1. We know our success depends on Advisers. So, we collaborate with Advisers and other partners on changes we intend to make. Whether that be to how we serve you or our products.
  2. If you ever have feedback for anyone in our organisation – from Product Managers and to Underwriters, to the CEO – we’ll get it to them, and you’ll get a response.
  3. We know that our role is more than supplying life insurance. We also need to champion the advised channels and stand strong on issues within our industry (like operational efficiency) – we’re pretty proud of our record on those fronts so far.

We’re here for the long-term.

We’re a fully regulated Life Insurance company, not just a reseller. This means we have the capital requirements of a life insurer and a genuine interest in ensuring clients are with us for the long term. Which means a focus on delivering on-going value to customers and maintaining a good reputation in the industry – particularly around claims.

We think it’s a job for Integrity Life.

A big part of why we exist is to build something better than was there before. We are committed to testing, building and innovating – ultimately to create a better customer experience.

Because we’re values driven, we believe there is a role for us in the industry to serve those who want to do things a bit differently and who, like us, believe we can change the game – for good!

And that’s why we think we’re the perfect ‘partner for life’.  

Integrity Life

Integrity Life

From the newsroom

Will getting the COVID-19 vaccine impact my ability to claim?

Will getting the COVID-19 vaccine impact my ability to claim?

Will getting the COVID-19 vaccine impact my ability to claim?

We have seen a few comments across social media in regard to getting the COVID-19 vaccine. The question seems to be, because a vaccine is ‘self-inflicted’ that potentially an insurer wouldn’t cover damage or death as a result. We wanted to make it absolutely clear from our perspective where we stand.

If someone is already insured with us, then they are covered under the terms of that contract. So, they can make a claim based on the products they have in place – whether the claim is triggered by COVID-19 or anything else.

Since the onset of COVID-19, we have made a commitment (and stuck to it) not to have any specific or contractual exclusions related to COVID-19, that includes in respect to being vaccinated.

So, in short, getting the vaccine will not impact your ability to make a claim at Integrity.

Of course, for new applications we reserve the right to underwrite the risk presented by each individual and if someone has been infected with COVID-19 and are experiencing symptoms, then we have to decide whether to accept them and on what terms (but just like any other impairment).

The same is true for the vaccine, if we are underwriting a new application and the COVID-19 vaccine (or any vaccine for that matter) causes side effects in a particular individual, it is something underwriters will consider.

Scott Hodgson

Scott Hodgson

Chief Underwriter

Attracting new buyers to advice and insurance: exclusive research report.

Attracting new buyers to advice and insurance: exclusive research report.

Attracting new buyers to advice and insurance: exclusive research report.

Today we launch exclusive research to help Advisers understand how to attract and retain new customers. Acquisition of new customers and profitability are critical for practices and we hope this can offer part of the solution. In our early testing of the report, we got some feedback we wanted to address upfront, so here are some questions you may have had…

Are Millennials even profitable to service?

We know that writing risk is becoming an even more significant challenge on small cases (where the compliance requirements are the same as writing a large case) but what we highlight in this report is that Millennials are up to 40 years old, they are a large cohort that spans a wide-range of ages, and they may not be who you think they are. Additionally, as the dominant workforce, they are creating the expectations on which Advisers and their offerings will be compared. So, it’s worth getting across how they think and behave. We also believe there are opportunities to change the way some practices operate that will drive greater efficiency, thereby reducing operational costs (and increasing profitability), while also appealing to how this cohort prefers to engage with financial services. 

Why has Integrity done this research?

We believe that our role in the industry is bigger than just providing products. We believe we have a role in supporting a sustainable industry, in educating clients and Advisers and supporting them personally and in business. This report was commissioned by us because we identified a challenge brought on by COVID-19. As lockdowns happened across the country Advisers found themselves overservicing existing clients while struggling to acquire new ones. We wanted to support new acquisition as a means to help support their businesses.

What do we do next? 

We have a range of ideas and solutions, as well as system features, we have already built to support the strategies and ideas outlined in this research. So, when you’re ready to have a chat, so are we. Download the research paper here.

    Integrity Life

    Integrity Life

    From the newsroom

    Why don’t more women have adequate life insurance?

    Why don’t more women have adequate life insurance?

    Why don’t more women have adequate life insurance?

    According to Financy*, just 33% of women reported having any life insurance at all, compared to 48% of men. On this, International Women’s Day, we look at two of the complex reasons why.

     

    Life insurance is calculated by income, not contribution to the household.

    The traditional calculation for how much life insurance is needed is based on your current income, the idea being that if you were to be sick, injured, or die, that is what you would need to be replaced. With women still earning less than men overall (13.4%^ – 2020) according to these calculations, women need less life insurance than men.

    But the value of our life and role in the family is so much more than income. The primary purpose of life insurance is to replace a lost income when a provider of the family dies. So, in this context it makes sense for women to have less insurance than men, but if you think about a couple where the woman both works and does the lion’s share of childcare and household tasks – then the cost if she was unable to work, or if she died, is significantly higher. In fact, women do 72%# of all unpaid work in Australia.

    Therefore, not only would you need to replace the income, but you would also need to replace the work to look after the kids, and the home and everything else that she contributed to the household. This is not something traditional measures take into account.

     

    Stay at home parents may not believe life insurance is for them.

    Traditionally women make up most of the stay-at-home parents in Australia and as we have explored, unpaid work doesn’t always factor into life insurance calculations. However, the financial literacy around the role of life insurance could be stopping more women having an adequate safety net in place. 

    When it comes to life insurance, Rice Warner’s Underinsurance in Australia 2020` report found the current level of insurance held by Australians covers 92% of basic death needs, but only 29% when it comes to total and permanent disability (TPD) insurance.

    As a single parent, experiencing a major injury or illness would have even greater ramifications for both financial, emotional, and logistical support. Having insurance as a single parent, may even be more important than if a partner was available to step in.

     

     

    1. *https://financy.com.au/should-more-women-be-thinking-about-life-insurance/
    2. ^https://www.wgea.gov.au/publications/australias-gender-pay-gap-statistics
    3. #https://womensagenda.com.au/latest/women-undertake-72-of-all-unpaid-work-in-australia-the-consequences-are-egregious/
    4. ` https://www.ricewarner.com/new-research-shows-a-larger-underinsurance-gap/
    Integrity Life

    Integrity Life

    From the newsroom

    Expanding our paramedical offering for a faster application process.

    Expanding our paramedical offering for a faster application process.

    Expanding our paramedical offering for a faster application process.

    We’re pleased to announce that we have added three new paramedical providers to our panel.

    This expansion gives you even greater choice in providers, while speeding up the process, and improving the end-to-end experience of your clients who require further health screening tests for us to assess their application. Plus, once you let us know your preferred provider from our panel, we’ll take care of the rest.   

    We spoke to our GM of Operations, Bridget Ramunno, about this significant change.

    What has brought about this change?

    Bridget Ramunno: The application process is a really critical time for Advisers to secure clients for life, so we’re always looking for ways we can improve that experience.

    One area we identified for improvement was the process of organising health screening tests which are sometimes required at application. By adding additional providers with complimentary capabilities, we are able to speed up the application process, reduce the advisers’ effort to get applications inforce, as well as improving the health screening experience for their clients.

    Who do we have on board?

    BR: In addition to Unified Health Care Group (UHG), Integrity welcomes Health Predictions, Prestige Paramedical, and EQ Pathology to provide both medical retrieval and health screening services.

    Why is this good news for Advisers?

    BR: We have partnered with some of the best providers in the country to give our Advisers even more choice.

    The process is designed to take the heavy lifting off Advisers. So we’ll do everything from securely transferring all the relevant information to the providers, and then ensuring Advisers are kept in the loop at every stage. This transparency allows them to keep their clients informed, stay on the front-foot, and in turn, create a better application experience.

    Early results show that on average health screening requests are completed end-to-end in just 4.5 days and medical report retrieval services average around 6 days. But we’re anticipating reducing this even further.

    What do Advisers need to do to set this up?

    BR: Just get in touch with your BDM or our Customer Care team and let us know which provider you wish to use. Then, if tests are required and you want us to organise, we’ll take care of the rest.

    Bridget Ramunno

    Bridget Ramunno

    General Manager, Operations.