Businesses in Hong Kong, and throughout the rest of the world, are constantly seeking new and innovative ways to attract and retain, vital employee talent whilst helping existing staff members to reach ever greater levels of productivity and fulfillment in their work.
One of the ways in which companies have historically enticed workers to greater heights is through the implementation and offering of a comprehensive employee benefits package which includes some form of health insurance coverage. However, in a world where medical inflation is running at an average of 10 per cent per year, the premiums associated with traditional group medical insurance options are quickly spiralling out of control – in the early 2000’s auto manufacturing giant, General Motors, was spending more on health insurance coverage for workers than it was on steel to make cars!
Thankfully, in the last few years a number of innovative solutions have emerged which are helping businesses (and individuals) contain the costs of their health insurance coverage even against the background of ever increasing healthcare prices.
Cooper, Claridge-Ware (CCW) is a Hong Kong headquartered insurance brokerage which is leading the charge to change the perception of health insurance in Asia. CCW understands that there is more to health than insurance, and that there are myriad industries which can play a major role in helping businesses to save money while inspiring employees to greater heights.
From instituting simple work/life balance to making a concentrated drive to spur smarter lifestyle choices, wellness programs sitting alongside flexible insurance products are changing the current corporate paradigm – companies offering both comprehensive employee benefits and wellness services to workers are reaping the benefits of a wave of innovation and motivation rarely seen in the corporate world.
Cooper Claridge-Ware has investigated the current climate of sustainability for group medical insurance premiums in a recent article titled Is Group Medical Insurance Sustainable? In that piece CCW highlights the need to evolve current thinking in terms of how companies are choosing, and offering insurance coverage to employees.
However, this is only a small part of the overall story – CCW together with ALMA Wellness have published an innovative whitepaper titled The Case For Wellness which presents further reasons for businesses to get more involved in the health of their employees; enabling both cost savings and profitability at the same time.