Seven Trends That Will Shape Corporate PMI

AXA Health’s Chris Horlick predicts a year of inclusivity, personalisation and prevention

Corporate health insurance has changed a lot over the last decade and is set to continue to evolve in the face of continuing technological, economic and societal change.

Demand for more tailored and cutting-edge solutions that meet their workforces' - and businesses' - changing needs is also set to grow as more employers recognise the benefits of supporting a happy and healthy workforce.But what will drive the biggest changes in 2020? These are the top trends that will shape corporate health insurance in the year ahead.

Increasing expectations for employers to take more responsibility and play a bigger part supporting workforce wellbeing will boost employee demand for health and wellbeing benefits in 2020

1. More inclusive healthcare solutions
   As employers strive to create truly inclusive, supportive workplaces, demand for more far-reaching healthcare offerings will grow. Businesses will increasingly be looking to ensure they provide employees with information and support for a broader range of factors such as gender dysphoria, difficulties with fertility and dealing with the menopause that can affect their wellbeing and ability to feel comfortable at work.
2. More personalised, closer customer relationships with a focus on early intervention
   Increasing adoption of digital-first solutions and better capture and interpretation of data will equip insurers with new insights to support closer client relationships in 2020. This will give way to new and improved holistic services, personalised to support individual employees' needs.
3. Careful consideration of and collaborative approach to cancer cover
   Advances in cancer treatment, improved survival rates and an ageing workforce will mean employers managing increasing numbers of employees affected by the condition. Careful consideration and a collaborative approach to structuring schemes will be imperative to accommodate both individuals' and their employers' needs. For their part, insurers will continue to focus on prevention, early detection and intervention to deliver better routes to care, patient journeys and outcomes - as well the holistic care needed to deal effectively with complex cases.
4. Dedicated mental health strategies will no longer be viewed as a ‘nice to have'
   Growing recognition of the worrying increase in work-related ill mental health will spur employers to introduce whole health strategies that support employees' mental, physical and financial health in order to strengthen their workforces' resilience.
5. Increased employee demand for health and wellbeing benefits
   Increasing expectations for employers to take more responsibility and play a bigger part supporting workforce wellbeing will boost employee demand for health and wellbeing benefits in 2020 - as well as increase employers' focus on how best to integrate them to maximise their impact.
6. Adaptation to changing customer demographics and needs
   Social, cultural and technical changes continue to shape the way that we work, from the very nature of jobs that we do to how, where, when - and for how long - we do them. These constantly shifting factors will continue to pose new challenges for employers looking to meet the varied, changing and at times perplexing needs of today's - and tomorrow's - workforce.
7. Insurers will further support prevention
   Insurers will complement their traditional strength in securing timely treatment to support ill or injured employees back to health with a growing focus on prevention. The likes of health assessments and coaching will help employees identify and address their health risks and, in turn, enable them to lead healthier, more active lives and, in turn, boost their morale, performance and productivity.

Chris Horlick is distribution director for AXA Health