After an unpredictable 2020 and with a COVID-19 vaccine in the early stages of distribution, optimism and fresh starts are the sentiments ringing true right now.
However, the health and financial challenges of 2020 will likely linger for some time. In fact, the 2020-2021 Aflac WorkForces Report found that 67% of U.S. employees experienced at least a minor financial impact because of COVID-19.
Pragati Life Insurance is helping minimize healthcare access inequality in Bangladesh by delivering diverse and affordable insurance products to rural and urban low-income earners
DHAKA, Bangladesh, June 18, 2020 /3BL Media/ – Bangladeshi insurance provider Pragati Life Insurance has joined Business Call to Action with a commitment to provide health and life insurance to 1.5 million garment factory workers, as well as to 2 million rural and 1 million urban low-income earners in Bangladesh by 2021.
By partnering with Sri Lanka’s largest mobile provider and the Department of Post Sri Lanka, Softlogic Life is breaking down barriers and offering life and health insurance for millions of citizens.
COLOMBO, Sri Lanka, May 28, 2020 /3BL Media/ – Sri Lankan insurance provider Softlogic Life has joined Business Call to Action with a commitment to provide access to life and medical insurance policies for millions of low-income earners and livelihood opportunities to 3,000 more as distributors of insurance, by 2024.
When you think about insurance companies, do you think about social impact? It’s likely not the first thing that comes to mind, but FSG client Skandia has realized the significant impact they can create by helping prevent risks rather than just insuring against them.
Through active risk prevention, insurance companies can not only improve lives and potentially make whole nations more resilient, but they actually increase their company’s competitive advantage. In other words, they apply the concept of shared value.
By applying a shared value lens, insurance companies can do more than just protect against risks. They can help prevent risks from occurring in the first place, while simultaneously creating economic value.
Skandia is a major provider of insurances and products for long-term savings and investments in the Nordics. Their development of a unique underwriting model and rehab services network enabled them to reduce preventable sick-leave time in Sweden, while dramatically improving their bottom line.
When ESI International recently polled 200 human resource managers and asked what keeps them up at night, a whopping 61 percent had the same answer – “rising health care costs.” This was by far their top nightmare, and for good reason.
The health care sector is innovating with new business models as companies continue to adapt to the transformative Affordable Care Act. The trend is visible in the changing strategies of top health companies as measured by revenue, according to Fortune magazine.