#BetterMe by AXA allows companies to provide employees insurance coverage that can be customised according to their individual needs, as well as comprehensive benefits, including a suite of health and wellness services beyond traditional insurance protection.
Julien Callard, Managing Director, Retail & Health, AXA Insurance said the COVID-19 pandemic has dramatically changed workplaces, regardless of size or industry, and put employee benefits in a new spotlight as this is a time when employees are most looking for support.
“More employers today are recognising the value of putting their people first, which can contribute to positive outcomes such as better overall health and well-being of their employees, employee loyalty, increased engagement and enhanced productivity.
“#BetterMe by AXA is our commitment to support employers in meeting the evolving needs of their employees and nurturing a stronger and more resilient workforce,” he said.
AXA Insurance virtual media roundtable
At a recent AXA Insurance virtual media roundtable on “Empowering Employers to Build a Stronger and More Resilient Workforce”, Jean Drouffe, CEO of AXA Insurance Singapore, told Asia Advisers Network, “Different employees have different needs when it comes to health benefits. For some employees, getting health cover for family members may be a priority. With AXA’s new employee benefits solution #BetterMe, employers have the choice to include covers for employees’ dependents.
“Additionally, it is fully flexible, meaning each employee has the option to customise insurance protection not only for themselves but for their dependents, too. For example, employees can add some dependent cover when it is not provided by the company, or top-up their dependent cover when it is included.”
He further said: “Within AXA, we provide dependent covers for our employees because we recognise the importance of it when it comes to an engaged workforce. But this extends beyond insurance, and we have a number of activities throughout the year to engage our employees and their families, such as through our yearly Kids@Work day which was held virtually for the first time in July, or inviting employees and their families to join exclusive livestream fitness sessions for better health and well-being during the Circuit Breaker.
“Furthermore, to encourage employees to spend more time with their families, we introduced 4pm Fridays almost two years ago, where they get to leave work earlier than usual on the second Friday of every month. We believe that we have a role to play as an employer in helping our employees to thrive at work, and this means taking care of their professional as well as personal lives where we can.”
Understanding employees’ expectations of benefits
There has never been a better time for organisations to invest in their most valuable asset, their employees, and this can start with an understanding of what their employees want from their employee benefits package.
A study by AXA found that limited coverage was the biggest area of dissatisfaction for employees when it comes to their company’s health insurance plans. 36% of the respondents were unhappy about the level of coverage in the benefits they receive. Additionally, the study also revealed that employees of different age groups prioritise different benefits depending on the stage of their life journey.
Mr Callard said: “We understand that a diverse workforce has varying expectations and needs, and companies today require more than a one-size-fits-all solution. #BetterMe by AXA goes beyond offering employers the ability to choose coverage that caters to employees, to even letting employees have an added layer of customisation where they can choose to enhance their level of coverage for themselves and even their dependents or add on new benefits for greater protection.
“More than that, it also addresses employee well-being holistically with the wellness services and solutions available.”
Here’s an overview of what companies and their employees will get with #BetterMe by AXA:
• A customisable and holistic employee benefits programme:
Companies and employees can customise the coverage and benefits of their corporate plan based on factors such as their needs and budget, in a few simple steps:
1)Company’s HR selects a base plan with options for hospitalisation and term life insurance, followed by optional add-on coverage and supplementary services.
2)Employees will then have the option of enhancing their company-provided insurance plan by increasing the level of coverage or adding on new coverage, such as critical illness insurance, personal accident insurance, general practitioner coverage, specialist coverage, and dental coverage. Employees will soon have the option to purchase extended coverage for their dependents too.
They can also choose to add on supplementary services that are available in partnership with best-in-class partners: telehealth provider Doctor Anywhere for convenient access to quality care via video consultations and a dedicated Chronic Disease Management Programme for suitable candidates, global fitness and wellness aggregator ClassPass for an unmatched variety of fitness and wellness experiences, and digital therapeutics firm Naluri for health coaching and mental wellness support.
• Dedicated support for onboarding and staff engagement:
Companies can receive dedicated support from AXA Ambassadors who will assist HR managers in onboarding their employees for all services in the #BetterMe by AXA programme. According to the AXA study, 37% of employees were unsure of the health insurance coverage and benefits provided by their employer, and AXA hopes to address this gap with the support it is offering to companies who come onboard the programme.
AXA will also partner companies to engage their employees through on-site events in a variety of formats and topics, ranging from financial wellness and health talks to coaching programmes for professional development and networking events.
• Convenient access to information and services through digital tools:
Companies can expect reduced administrative work and increased efficiency as they will be able to conveniently access and manage their employees’ insurance policies and a range of services via a one-stop HR portal. The digital platform will also allow for greater visibility and easier tracking of insurance claims and payments in a second rollout before the end of the year.
Employees too can enjoy greater convenience with policy information available at their fingertips via the MyAXA app and portal, including personal policies they may have with AXA. They can also look forward to being able to enjoy greater integration of wellness services into the app in future updates of MyAXA.
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Check these out:
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