Indian companies shift focus towards preventive care, wellness programmes

Posted on by

2 min read Last Updated : Sep 14 2024 | 12:39 AM IST

Post Covid-19 pandemic, there has been a notable shift in median benefit offering by Indian companies to its employees, which includes enhanced focus on preventive care, wellness programs, and personalized benefits, according to a report by Prudent Insurance Brokers from data of over 3,000 organizations, covering 30 lakhs employees.

Companies are now rapidly shifting towards outpatient department (OPD) benefits, and emphasizing on preventive screenings, annual checkups, and mental health support. Further, mental wellness has become a core part of employee well-being programs, with 74 per cent of employers incorporating mental health services. Additionally, companies are defined benefit structures to defined cost structures, giving employees greater flexibility in choosing benefits tailored to their needs. Also, demand for pet care benefits is rising, particularly in IT/ITES and E-commerce sectors, catering to younger employees and those with pets, according to the findings.


Highlights of major sectors

Sectors
Findings


Automotive

 


51% of cos offer graded sum insured; 77% provide maternity coverage
Accident & Life covers have seen slight increase in higher brackets


BFSI


66% offer graded sum insurance
94% ogranisations provide maturity benefits
CTC linked accident & life insurance benefits


E-commerce


61% of companies provide flat family floater sum insured
New covers include maternity-related complications and menopause
 
Greater emphasis on mental health coverage and offering personalised benefit cover


FMCG


63% offer a graded sum insured offering flat family floater cover, there is a shift in the median value
OPD benefits are offered by 7% of organizations

Source: Prudent Insurance Brokers 

First Published: Sep 14 2024 | 12:39 AM IST