Our research findings
Health and protection insurers produced the equivalent of
£6.1 billion
a year in societal benefits by supporting people to stay in the workforce in 2021.
WPI Economics, 2023With fewer people off work, businesses were
£2.6 billion
better off, the wider economy benefited by £2 billion, and the exchequer saved £1.5 billion.
WPI Economics, 2023
Insurers are committed to improving health and wellbeing in the workplace so that employees can better understand and manage their health.
Insurers can do this by:
- Offering comprehensive health assessments
- Introducing initiatives aimed at improving your physical activity
- Offering incentives for healthy lifestyles
Workplace wellness programmes are designed to help employees manage their health and prevent or delay the onset of illness. Firms with healthier employees are most likely to have higher levels of staff retention, a motivated workforce, and increased productivity.
Furthermore, companies with strong wellbeing programmes often experience lower levels of absenteeism, as employees are better equipped to manage their health and avoid long-term sickness.
Individual wellbeing
Insurers want to understand your behaviour and risks better so that they can tailor a health plan to help you stay healthier for longer. Some insurers offer regular health assessments so you can understand your health risk areas and leave with improvement strategies.
Wearable devices and technological innovations allow both you and the insurer to monitor key metrics, which is proven to have tangible benefits for prevention. With the use of this technology, you can self-assess your health on the go in an easy and convenient manner.
Many health insurance providers offer incentives and rewards to help you stay on track with your health plan and boost your wellbeing.
Resources
Discover our guides, reports, free-to-use tools and download our data release schedule
FAQs
Why is workplace wellbeing important?
Workplace wellbeing is important to individuals, those close to them, employers and wider society. It helps reduce absenteeism, improves staff retention, and increases productivity by promoting better physical and mental health among employees.
What are some common workplace wellbeing initiatives?
Typical initiatives include health assessments, physical activity programs, and incentives for maintaining a healthy lifestyle, all designed to improve employees' wellbeing.
How does health insurance and health benefits of some protection insurance products contribute to workplace wellbeing?
Health and protection insurance provides employees access to essential medical services, offering financial protection and peace of mind, which can help them stay healthy and productive.
