This approach is vital because the risk landscape and trends in employee insurance are constantly evolving. New threats, such as sophisticated cyber-attacks or disruptions in the global supply chain, can have devastating impacts if not managed properly.

In this article, we will delve into the critical aspects that companies must consider when developing their corporate risk management strategies and selecting the most appropriate business insurance policies. We will explore how a comprehensive approach to risk identification, assessment, and mitigation can not only protect the enterprise’s assets but also boost its growth and competitiveness in the global marketplace.

Importance of analysing business risks in insurance

Before delving into the specifics of insurance coverage for enterprises, it is crucial to emphasise the need for thorough risk analysis. This process involves a detailed assessment of all areas of potential vulnerability within the organisation.

This analysis process is essential because today’s business world faces various increasingly complex and interconnected risks. Beyond traditional risks such as fire or property damage, enterprises must now navigate much more complicated terrain. Privacy and cybersecurity risks, human capital challenges, environmental and pollution concerns, and vulnerabilities in the global supply chain have become concerns for organisations of all sizes.

Furthermore, these risks do not operate in isolation; they are often interrelated and can have cascading effects throughout the organisation. For example, a cyberattack could not only compromise sensitive data, but also disrupt operations, damage the company’s reputation and potentially result in significant financial losses. That is why enterprises must take a holistic approach to understanding and addressing these multifaceted risks.

Main business risks in insurance

To implement an effective corporate risk management strategy, it is essential to identify and prioritise the most relevant risks for your organisation. Some of the most common risks that enterprises should consider include:

1. Cyber risks

In the digital age, data protection has become an absolute priority. Data breaches can result in direct financial losses, significant reputational damage and substantial regulatory penalties. That is why the regulatory landscape around data protection is becoming increasingly strict, with regulations such as the GDPR in Europe and the CCPA in California.

Thus, to mitigate these business risks in insurance, enterprises must implement robust cybersecurity measures, including intrusion detection and prevention systems, data encryption, and multi-factor authentication. Equally important is regular employee training in security best practices.

However, even with the best preventive measures, the risk can never be completely eliminated. Therefore, enterprises should consider taking out specific cyber insurance that can cover the costs associated with data breaches, including customer notifications, credit monitoring services, and possible legal claims.

2. Risks related to human capital

Employees are an enterprise’s most valuable asset, but they can also represent a significant risk if not managed properly. Occupational health and safety, the risks of discrimination and harassment, and the potential loss of key employees are critical areas that require attention.

That is why enterprises must invest in robust security programmes, develop clear policies against discrimination and harassment, and establish talent retention and succession planning programmes. Regular employee training in these areas is critical to mitigating these risks.

From an insurance perspective, enterprises should consider coverages such as employer liability, business medical, workplace practices, and key person insurance. These products can provide financial protection against employee claims, legal costs associated with employment litigation, and economic losses resulting from losing key employees.

“Our partnership with ifeel has catalysed a positive change in the mental well-being debate at SCOR. Since implementing ifeel’s solution, we have seen more open discussion about mental health within our organisation.”

— Sabrina Kruse, Head of HR EMEA & Group Head of Diversity, Inclusion and Engagement at SCOR, an ifeel partner company.

3. Environmental and pollution risks

Growing awareness of climate change and sustainability has spotlighted environmental risks. Enterprises face challenges such as accidental pollution, compliance with increasingly stringent environmental regulations, and the impacts of climate change on their operations.

To address these business risks in insurance, enterprises must implement rigorous hazardous materials handling protocols, keep up with regulatory changes, and develop strategies for adapting to climate change. They must also conduct regular environmental risk assessments and develop emergency response plans.

In this sense, environmental liability insurance has become increasingly important, covering clean-up costs, third-party damages and legal costs associated with pollution incidents. In addition, innovative products are emerging to address the specific risks of climate change.

4. Global supply chain risks

In an interconnected world, disruptions in the supply chain can have devastating effects. Geopolitical risks, dependence on single suppliers, and transportation and logistics challenges are growing concerns for global enterprises.

To mitigate business risks in insurance, enterprises must diversify their suppliers, consider multiple routes and modes of transportation, and potentially increase their inventory levels. It is crucial to develop contingency plans for possible disruptions and closely monitor the geopolitical situation in their operating regions.

Business interruption insurance and supply chain-specific insurance can provide financial protection against losses resulting from supply chain disruptions, including key supplier failures or transportation disruptions.

It is important to note that the relevance of these risks can vary significantly depending on the sector and the geographical location of the enterprise. For example, a multinational technology company might prioritise cyber risks, while a manufacturing company might focus more on business interruption and environmental hazards.

Selecting appropriate business insurance policies

Effective risk management requires a comprehensive and proactive approach. This starts with regular and thorough risk assessments that identify both current and emerging risks. It is crucial to involve all relevant stakeholders in this process.

Once the main risks have been identified, the next crucial step is to select the business insurance policies that best suit your company’s specific needs. For this reason, it is essential to work with experienced insurance brokers who understand the complexities of your industry and can negotiate favourable terms with insurers.

Here’s the information in table format:

The importance of business loss prevention

While having the right insurance policies is essential, accurate corporate risk management goes beyond simple risk transfer. Business loss prevention should be a priority in any comprehensive risk management strategy.

Implementing prevention programmes can reduce the likelihood of incidents and insurance costs. According to the EIOPA, the continuous rise in prices is another economic factor most affecting the insurance sector.

This integral approach to well-being and prevention can also be applied to the management of business risks in insurance, promoting a work culture that prioritises health, safety and resilience at all levels.

Regularly review and update risk management strategies

Business risks in insurance are constantly evolving, influenced by factors such as regulatory changes, technological advances and unforeseen global events. It is therefore crucial that enterprises regularly review and update their risk management strategies, as well as their insurance coverage.

A comprehensive review is recommended at least once a year or more frequently if significant changes occur in the enterprise’s structure or operations. This ensures that the business’s insurance coverage remains adequate and that the organisation is prepared to face new and emerging risks.

Technology at the service of insurers

At ifeel, we know that enhancing customer experience in insurance is a multifaceted goal that requires a comprehensive approach. This approach not only addresses the current needs of consumers, but also positions insurers as leaders in innovation and comprehensive customer care, thus ensuring their relevance in the sector’s future.

To this end, it is timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, and accurately understand the users’ needs and respond appropriately to their claims, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims by optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on business risks in insurance interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

In this scenario, insurers face the challenge of continuously innovating and improving the customer experience, with the aim of standing out as the preferred option for those enterprises seeking to ensure the well-being of their staff.

Therefore, enhancing customer experience in insurance companies has become not only a desirable strategy, but a critical necessity in order to remain relevant and competitive in the market. And, at the same time, this situation also represents an opportunity for insurance companies to improve the quality of their services.

Customer loyalty: the ultimate goal for insurance companies

Building customer loyalty is essential for any insurance company seeking sustainable growth. And to achieve this, enterprises need to invest in enhancing customer experience, as providing a superior customer experience not only attracts new users, but also strengthens the loyalty of existing ones.

In fact, according to research, companies that invest in the customer experience see an increase of up to 30% in customer retention and satisfaction. Thus, in order to achieve customer loyalty in insurance companies, it is vital to personalise the interaction with the customer.

This includes offering personalised recommendations based on behavioural data and specific needs, helping customers feel that their insurers really understand and care about their individual needs.

Strategies for enhancing customer experience in insurance companies

Improving the customer experience in insurance companies cannot be improvised. Insurance enterprises must have a plan and a structured approach that integrates the best options for their services to stand out as the best company when it comes to protecting their customers.

Below are some key actions for enhancing customer experience in insurance companies:

1. Inclusion of technology

Technology is a crucial component for enhancing customer experience in insurance companies. In this sense, the implementation of digital platforms that facilitate policy management and effective communication with customers is essential.

It is not only a question of simplifying processes, but also of offering added value through services such as telemedicine and digital health. These tools allow customers to access medical consultations remotely, which not only saves time, but also improves the perception of an agile and modern service.

Among the examples mentioned, telemedicine and access to digital health are clear examples of how technology can revolutionise the way health services are integrated into the insurance sector, promoting a richer and more personalised customer experience.

2. Integration of mental health into insurance

Mental health has gained prominence on the global agenda of enterprises and insurers are no exception. Integrating mental health services into insurance is a trend that not only responds to social demand, but also enhances the customer experience for insurers.

For enterprises, having insurance that offers mental health services represents a significant competitive advantage. Employees deeply value their employers’ concern for their overall well-being, which translates into greater commitment and job satisfaction. In fact, a survey by the American Psychological Association found that 92% of workers consider it important that their employer value their mental and psychological well-being.

In this way, insurers can offer access to well-being solutions for enterprises that include psychological counselling and mental health self-management resources. And in doing so, they would not only be addressing a vital need, but also strengthening the perception of the insurer as an integral ally in the health of its clients.

‘Our partnership with ifeel has catalysed a positive change in the debate on mental well-being at SCOR. Since implementing ifeel’s solution, we have seen more open discussion of mental health within our organisation’

– Sabrina Kruse, Head of HR EMEA & Group Head of Diversity, Inclusion and Engagement at SCOR, an ifeel partner company.

3. Service personalisation

Personalising the service is fundamental to enhancing customer experience in insurance companies. Today’s customers expect services that are tailored to their specific needs, which represents an opportunity for insurers to differentiate themselves in the market. Using advanced analytics and big data, insurers can gain a deep understanding of their customers, enabling them to offer solutions that match each individual’s unique preferences and circumstances.

Furthermore, by personalising policies, insurers not only better meet the expectations of their customers, but also foster greater loyalty. The ability to anticipate customer needs, offering products and services aligned with their expectations, strengthens the relationship and creates a bond of trust. This approach ensures that customers perceive the insurer as an ally who truly understands and cares about their well-being.

Ultimately, personalisation of service gives insurers a competitive advantage in a saturated market. By standing out for their ability to offer tailored and relevant experiences, insurers can ensure greater customer retention and loyalty, consolidating their position as leaders in customer service and empathy in the sector.

Technology at the service of insurers

At ifeel, we know that enhancing customer experience in insurance is a multifaceted goal that requires a comprehensive approach. This approach not only addresses the current needs of consumers, but also positions insurers as leaders in innovation and comprehensive customer care, thus ensuring their relevance in the future of the sector.

To this end, it is timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, and accurately understand the users’ needs and respond appropriately to their claims, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims by optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on enhancing customer experience in insurance interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

Understanding the rise in mental health insurance claims

Several factors contribute to the rise in mental health insurance claims. Firstly, increased awareness and education about mental health issues have led to more people seeking help and filing claims. The World Health Organization highlights that globally, an estimated 5% of adults suffer from depression, making it a leading cause of disability.

The COVID-19 pandemic has further exacerbated mental health challenges, contributing significantly to the rise in mental health insurance claims. The UK’s Office for National Statistics reported that the incidence of depression among adults soared to over 19% during the pandemic, a stark increase from pre-pandemic levels.

Workplace impacts

In the workplace, the shift to remote work and blurred lines between personal and professional life have led to increased stress levels. According to the European Agency for Safety and Health at Work, stress is among the most commonly reported work-related health problems, further fueling the rise in mental health insurance claims.

Challenges for insurers

This rise in mental health insurance claims presents challenges for insurers, requiring reevaluating premium models and benefits structures. Insurers must balance providing comprehensive coverage while maintaining economic viability. This includes:

• Developing comprehensive coverage plans: Offering inclusive plans covering therapy, medication, and other mental health services.

• Implementing proactive support systems: Using early intervention strategies to manage potential claims effectively.

• Collaborating with mental health experts: Partnering with organisations like ifeel to provide structured mental health solutions.

Benefits of Partnering with ifeel

1. Customised mental health plans: Tailored solutions that fit the specific needs of different demographics.

2. Data-driven insights: Leveraging data to provide insurers insights into mental health trends and claim patterns.

3. Holistic well-being: Comprehensive programs encompass therapy, coaching, and preventive measures.

Incorporating ifeel’s solutions can help insurers manage the rise in mental health insurance claims, and the economic and social factors driving this growth, is crucial for crafting effective mental health strategies.

Addressing the rise in mental health insurance claims: Strategies for decision makers

To effectively address the rise in mental health insurance claims, HR leaders and decision-makers can adopt several strategies:

1. Implement comprehensive wellness programs: Develop holistic programs that include mental health education, stress management workshops, and resilience training to support employees.

2. Foster a supportive work environment: Encourage open dialogues about mental health and provide access to confidential support services. Create a culture where employees feel safe discussing mental health issues.

3. Utilise technology: Adopt digital health solutions like those offered by ifeel to enhance employee support and streamline access to mental health resources.

4. Regularly assess the mental health climate: Conduct regular surveys and assessments to gauge employee well-being and adjust policies accordingly.

5. Promote work-life balance: Implement flexible work arrangements and promote a culture that respects personal time to reduce stress and prevent burnout.

Benefits for Insurers

Despite the challenges posed by the rise in mental health insurance claims, this trend also offers opportunities for insurers to innovate and improve their offerings:

Enhanced customer loyalty: Providing comprehensive mental health coverage can increase customer satisfaction and loyalty.

Differentiation in the market: Insurers that offer robust mental health support can differentiate themselves from competitors.

Proactive risk management: Early intervention and preventive measures can help manage potential claims, reducing long-term costs.

Technology for insurers

The rise in mental health insurance claims requires insurers and employers to adopt a proactive approach.

To this end, it is timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, and accurately understand the users’ needs and respond appropriately to their claims, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims by optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on the best health insurance for companies interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

In this sense, the right choice not only translates into adequate coverage, but also the peace of mind of knowing that your company is protected against crises and unforeseen events.

This article will walk you through the key aspects you need to consider when selecting an insurer for your business to help you through this process.

Steps for choosing the best health insurance for companies

Choosing the best health insurance for companies can seem overwhelming due to the wide range of options available. However, following a structured process can simplify the decision and ensure you get the best coverage for your organisation. Here are the key steps to follow:

1. Assess your business needs

The first step in choosing the best health insurance for companies is to understand your organisation’s specific needs. Every business is unique, and as such, insurance needs can vary significantly. That is why analysing the risks to which your business is exposed, such as property damage, liability, and employee health, among others, is crucial to defining the type of coverage required.

For example, if your company operates in the technology sector, you may need coverage that includes protection against cyber-attacks. Meanwhile, in industries where employee health and well-being is crucial, integrating mental health into health insurance is a growing trend that should not be ignored. This integration not only improves coverage but also reinforces a company’s commitment to the well-being of its employees.

In this regard, thoroughly analyze the specific risks your company faces. Ask yourself what aspects of your business need protection, such as property, liability, employee health, and other important assets. This analysis will help you identify which types of cover are essential and which are optional.

2. Research the options available

Once you have identified your company’s specific needs, the next step is to evaluate the coverage options available and research different insurers that offer the coverages you are looking for.

Insurers offer a variety of products, including property insurance, liability insurance, and health insurance. So compare products and services, making sure you understand the differences between policies. Look for insurers with good ratings, solid reputations, and experience in your sector.

Along these lines, it is also important to consider integrating mental health into health insurance, as this can be a significant value-add for your employees’ well-being.

3. Seek professional advice

When choosing the best health insurance for companies, consulting with an experienced insurance broker or advisor may be a good idea. These professionals can offer insights into which insurers are the best performers in the market and help you compare offers objectively. Their experience will help you not to overlook important details that could affect your business in the long run.

4. Review and compare quotes

Another strategy that can help you choose the best health insurance for companies is to request detailed quotes from selected insurers. This will help you compare the costs and the terms and conditions between options.

Make sure that the policies cover all identified risks without significant gaps. In addition, it is crucial that the coverage is comprehensive and that premiums are competitive.

5. Evaluate customer service

An insurer’s customer service is a key element that is often overlooked. Investigate the efficiency of their customer service operations, response times, and claim handling. Good service can make a big difference in times of need and can help you choose the best health insurance for companies.

6. Consider flexibility and scalability

Your business may grow and change over time, so choosing an insurer that offers flexibility in its policies and the ability to adjust coverage as your needs evolve is important. This includes the ability to include new coverages or adjust protection levels.

7. Make an informed decision

Finally, with all the information you have gathered, review the options with your key stakeholders. Ensure that everyone agrees with the choice and that the selected insurer aligns with the organisation’s strategic objectives.

By following these steps, you can be sure that you know how to choose the best health insurance for companies that will not only protect your assets, but also contribute to the well-being of your employees.

Employee well-being as a key pillar

The combination of mental health and health insurance has gained remarkable popularity in recent years, reflecting the growing awareness of the importance of mental well-being for business results. Mental health has become a prerequisite, especially among the younger generations in today’s work environments.

However, studies have shown that 8.5% of privately insured young people are not covered for mental or emotional difficulties. This impacts over one million young people, with significant variations in coverage. This gap highlights the urgent need to integrate mental health as a key component of health insurance policies, ensuring that holistic employee well-being is not simply an additional benefit, but a standard of care.

As employee expectations change, insurers must be prepared to offer innovative and effective solutions that align with HR best practices.

“Our partnership with ifeel has catalysed a positive shift in the mental well-being discussion at SCOR. Since the implementation of ifeel’s solution, we have seen mental health discussed more openly within our organisation.

– Sabrina Kruse, Head of HR EMEA & Group Head of Diversity, Inclusion and Engagement at SCOR, an ifeel partner.

Technology for insurers

At ifeel, we know that choosing the best health insurance for companies is a process that requires careful assessment of needs, thorough research of available options and constant attention to the well-being of employees.

To this end, it is timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, and accurately understand the users’ needs and respond appropriately to their claims, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims by optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on the best health insurance for companies interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

One of the most significant employee insurance trends going into the new year will be the integration of mental health into employee insurance. This approach is crucial for staff well-being and can also be an effective strategy to reduce corporate health insurance costs.

As organisations re-evaluate their benefits strategies, they focus on attracting and retaining top talent while aligning with the expectations of a modern workforce that increasingly values holistic well-being as a key factor for organisational success.

Employee insurance trends: mental health integration

Historically, employee health insurance has focused on covering physical needs, leaving out the mental aspect. Today, however, it is well known that mental well-being is just as important and can make a difference to business success.

In fact, according to the World Health Organization, every dollar invested in the expanded treatment of common mental health disorders such as depression and anxiety could yield a return of $4 in improved health and productivity.

In this regard, platforms such as ifeel, which provide a holistic and accessible approach to emotional and psychological well-being, are becoming essential components of the insurance package that companies must offer. Adopting these solutions improves employee health and well-being and fosters a more productive and engaged work environment.

“Companies must analyse trends, adapt to them, and take care of their employees. Nowadays, it is essential to listen to and give feedback, motivate, care for, and recognise them.

Carlos Romero-Camacho Silos, Chief People & Corporate Affairs Officer at Insud Pharma, an ifeel partner company.

Benefits of mental health coverage

One of the leading employee insurance trends is the implementation of mental health solutions, which is no coincidence. Integrating mental well-being services brings multiple benefits for both employees and the company. Taking out health insurance that includes this coverage not only improves employees’ quality of life, but also increases their productivity and engagement with the organisation.

In fact, according to studies, implementing mental well-being solutions can result in a 25% increase in productivity in companies. In addition, with the right support, employees are better able to handle stressful situations, resulting in fewer sick days and a noticeable reduction in staff turnover. Let’s take a look at some of the benefits:

Future perspectives on employee insurance trends

Looking ahead to 2025, companies must prepare to adapt to employee insurance trends, and offer options that encompass a full spectrum of benefits, integrating mental health as a core component.

This trend not only responds to workers’ needs but also reflects a shift towards more holistic and preventative health care. Enterprises that lead in this area will not only have a competitive advantage in attracting talent but will also contribute to a healthier and more sustainable environment for their employees.

Strategies for choosing the right health insurance for employees

For companies to appropriately adapt to employee insurance trends, they should consider implementing the following strategies:

Technology for insurers

At ifeel, we know that prioritising mental health positions organisations at the forefront of employee insurance trends in 2025, investing in a sustainable and successful future. Implementing platforms such as ifeel can make a difference to the overall well-being of employees and therefore to organisational success.

Thanks to our innovative triage system, this service allows insurers to receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs, and respond appropriately to their claims.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on employee insurance trends interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

This increase in absenteeism rates represents a critical challenge that erodes the productivity and efficiency of large companies. In this scenario, the impact of health insurance on absenteeism positions it as a valuable tool for companies.

The relationship between health insurance and the reduction of absenteeism is an area of growing interest, not only because of its direct implications for business operations, but also because of the complementary benefits it brings to the overall well-being of employees.

Discovering the impact of health insurance on absenteeism reduction

There are multiple benefits of offering business health insurance, which goes beyond a mere competitive advantage in the labour market, due to the impact of health insurance on reducing absenteeism.

Studies show companies that invest in health insurance for their employees see a significant decrease in absenteeism rates. This not only increases the workforce’s availability but also increases employee satisfaction and engagement.

Large companies have already begun to recognise the importance of comprehensive health coverage, including both physical and mental aspects, as part of their business strategy:

For example, David Peñaranda, Health & Safety Manager at ifeel partner Werfen , points out:

‘In the last year, we have managed to implement “Employee Wellbeing”, a strategy designed to support our wellbeing in all its dimensions.’

Integration of mental health into employee insurance policies

On the other hand, when discussing the important impact of health insurance in reducing absenteeism, emphasis should be placed on modern policies, which go beyond just guaranteeing the physical health of employees, to take care of their mental well-being.

This is linked to the increased visibility and awareness of mental health as a fundamental pillar in employees’ daily lives.

Integrating mental health into employee insurance is a crucial and often underestimated component. Mental health is directly linked to the productivity and overall well-being of employees. Recent studies indicate that stress and other mental health problems are responsible for a significant percentage of absenteeism.

Vasco Armés, Director of Human Resources at PERI Iberia, an ifeel partner company, states:

‘If we want to demand rigor and results, we also have to demonstrate that we are available to worry when this is necessary. .’

This holistic approach enables companies to reduce absence days and improve the organisational environment and talent retention.

Relationship between health insurance and absenteeism reduction

The impact of health insurance on absenteeism is evident in multiple studies and success stories. Companies that provide quality health insurance often see significant improvements in employee attendance and morale.

In fact, a Harvard Business Review report shows that organisations with well-structured health programmes have 25% less absenteeism than those without such programmes.

In addition, efficient health insurance management can also lower health insurance costs in companies. For example, the implementation of wellness programmes and disease prevention can lower insurance premiums and costs associated with claims and sick leave associated with mental health problems.

For example, encouraging healthy habits and providing easier access to preventive medical services and mental health solutions can reduce the need for costly treatments in the future.

Tips for implementing effective health insurance

To ensure that programmes are implemented correctly and maximise the impact of health insurance on reducing absenteeism and cost efficiency, companies can follow these steps:

These steps ensure that through the impact of health insurance on absenteeism, employee mental health is improved and company resources are optimised, reducing absenteeism and health-related costs. By following these recommendations, companies can create a healthy and productive work environment, benefiting everyone involved.

Technology at the service of insurers

At ifeel, we know that the impact of health insurance on absenteeism is indisputable. The integration of mental health into employee insurance, together with a comprehensive wellness strategy, translates into healthier, more motivated and productive employees.It is, therefore, timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs. 

Thanks to our innovative triage system, this service allows insurers to receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs, and respond appropriately to their claims.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on the impact of health insurance on absenteeism interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

In a highly competitive market, where acquiring new customers is significantly more costly than retaining existing ones, insurers must adopt innovative strategies to maintain and strengthen customer loyalty.

In fact, according to statistics, it costs approximately five times as much to attract a new customer as it does to retain an existing one due to the marketing, advertising, and promotional expenses required to attract new customers. These costs underline the importance of retaining customers for future renewals, i.e. the importance of loyalty.

In this context, the question commonly arises: What is the best way to retain customers, and what should insurers do to increase customer loyalty? Currently, multiple formulas combine technology with the best loyalty techniques to increase the profitability of insurance companies through customer loyalty.

What is customer loyalty in insurance companies?

The process of customer loyalty in insurance companies consists of implementing different strategies that the company carries out to retain customers who are already part of the company and to get them to renew their policies.

In this way, customer loyalty in insurance companies implies retaining them and converting them into active promoters of the company. For insurers, especially those offering business health insurance, it is vital to maintain high customer satisfaction and trust.

Benefits of customer loyalty in insurance companies

Retaining customers is a fundamental part of business strategy that fosters business growth. Trust in the insurer translates into customers renewing their policies and recommending services to other companies. This word-of-mouth effect is crucial in the insurance industry.

Of course, building customer loyalty in insurance is not an easy task, as it requires listening to customers’ needs, differentiating oneself from the competition, and providing a personalised solution that allows for customer satisfaction. However, when this process is carried out correctly, it can bring multiple benefits to the company, such as:

1. Cost savings

Retaining a customer is significantly more cost-effective than acquiring a new one. The investment in advertising, push calls, and offers for new customers is minimised when it comes to retaining an existing customer.

In fact, research has shown that retaining a customer can increase profits by 25% to 95%, as loyal customers tend to spend more and recommend the company to others. In addition, existing customers are 60% to 70% more likely to buy again, compared to 5% to 20% for potential new customers.

Additionally, loyal customers tend to recommend services to others, generating new conversions at no additional cost. In the insurance industry, closing a sale can take months, so retaining existing customers is an efficient strategy in terms of human resources and time.

2. Increases brand trust

When customers perceive an insurer as superior to the competition, they are less likely to switch to the competition.

Therefore, customer loyalty in insurance companies strengthens customer relationships, making them less susceptible to offers from other companies. Having all insurance with one insurer also makes managing customers easier, increasing their loyalty.

3. Facilitates the sale of other services

Cross-selling is an effective strategy for increasing each customer’s value. Offering complementary or additional insurance that protects against risks not initially contemplated can improve customer satisfaction and increase revenues.

In this sense, knowing your customers well allows you to offer relevant products without oversaturating them, building healthy and long-lasting business relationships.

4. Customers become brand ambassadors

Satisfied and loyal customers tend to become brand ambassadors, recommending the services to their close circle. This enhances the insurer’s reputation and attracts new potential customers.

A good reputation and long-term customer relationships position the insurer advantageously in the marketplace, allowing it to launch personalised and effective marketing strategies.

How do we build customer loyalty in insurance companies?

Customer loyalty in insurance companies requires a combination of innovative strategies and a customer-centric approach. For this reason, developing and implementing a loyalty strategy to retain customers is an invaluable opportunity to study customer needs while positioning yourself as a strong company capable of delivering real value to customers.

Techniques that can be implemented include:

1. Differentiate yourself from the competition:

It is necessary to establish clear differences concerning competitors in the sector to attract customers’ attention. This can be done in different ways:

• Specialisation: Offer specialised products and services that stand out in the market.
  
• Agile and reliable service: Ensure that processes are efficient and that customers can rely on the quality of service.
  
• Personalisation: Tailor offers and services to each customer’s specific needs. This can be done by analysing customer buying habits to design effective marketing and loyalty campaigns and using the database to reactivate inactive customers through personalised promotions.
  
• Visibility and credibility: Maintain an active and reliable presence in digital media where services are promoted, creating a community.
  

2. Reward customers:

The main objective of this type of technique is to let the customer know that their purchase is valued and, therefore, rewarded through different benefits. This can be done in various ways:

• Loyalty programmes: Implement programmes that reward customers’ purchasing behaviour.
  
• Personalised rewards: Offer rewards that have intrinsic value to consumers, ensuring that the rewards are relevant and appreciated.
  
• Listen and respond: Listen actively to customers and respond efficiently to their needs.
  
• Flexibility and communication: Be flexible and communicate transparently and honestly to build a relationship of trust.

3. Leverage Information Gathered:

Information is one of the keys to the success of any customer loyalty strategy in insurance companies. In this sense, taking advantage of the information collected over time is the best way to personalise attention:

• Database: Using information from databases to better understand customers and target marketing strategies.
  
• Customer satisfaction: Keeping informed regularly about customer satisfaction to adjust and improve the services offered.

4. Effective communication strategies

Effective communication is fundamental to maintaining a strong relationship with clients. Insurers should create strategies to ensure that clients are well-informed about the services and benefits available to them.

• Transparency: Transparency in communications builds trust. It is crucial to inform clients clearly and promptly about any policy changes, additional benefits, and updates.
  
• Ongoing education: Offering webinars, workshops and educational materials on the importance of physical and mental health and how to use the services available can improve the use and appreciation of the insurance offered.

5. Integrating technology platforms

Insurance technology plays a key role in improving the customer experience. Implementing advanced technology not only optimises insurers’ internal processes but also improves their interaction with customers, creating a stronger and longer-lasting relationship.

• Personalisation and efficiency: Technology platforms allow insurers to customise their offerings and services to the specific needs of each customer, creating a more relevant and satisfying experience for the end user.
  
• Process automation: Automation allows insurers to handle large volumes of data efficiently, reduce errors and free up time to focus on strategic tasks. This improves accuracy and speed in policy and claims management.
  
• Customer experience: It is crucial to use technology to deliver a seamless customer experience. From chatbots that provide instant answers to mobile apps that allow customers to manage their policies, technology facilitates a smoother and more satisfying interaction.
  

6. Digital well-being programmes

Offering mental health solutions within health insurance is a strategy that can differentiate an insurer in the competitive marketplace, and improve customer loyalty at insurers. These programmes, using advanced technology, offer ongoing and accessible support to employees of insured companies.

• Mental health platforms: Companies such as ifeel offer mental health solutions for insurers that enable employees to access mental health services conveniently and confidentially. This integration not only improves employee well-being but also increases satisfaction with the health insurance provided by the company.
  
• Triage and Ongoing Support: A triage system, such as the one offered by ifeel, allows employees’ mental health needs to be quickly identified and appropriate support to be provided. This ensures they receive the help they need without delay, improving their overall well-being and perception of insurance.
  
• Access and convenience: Digital well-being programmes are accessible, so employees can receive support where and when they need it. This is especially valuable in times of high demand or crisis, as it ensures that resources are always available.

In this regard, Virginia Grenón Lobato, Global Head of HR Operations at Cabify, an ifeel partner company, noted:

“Ifeel’s proposal offered us the possibility of dealing with these issues with flexibility, utmost confidentiality, a very powerful professional team behind us, and the feeling of security that they would be there wherever we needed them.”

Employees who feel supported in their mental well-being are more productive and loyal to their employers. This, in turn, strengthens the relationship between the company and the insurer, increasing retention rates.

This is reflected in the opinion of Sabrina Kruse, Head of HR for EMEA and the Diversity, Inclusion and Engagement Group at SCOR, an ifeel partner company:

“Our partnership with ifeel has catalysed a positive shift in discussing mental well-being at SCOR. Since implementing ifeel’s solution, we’ve seen an increase in open conversations about mental health within our organization. This change is particularly evident in countries where discussions on mental health were still in their early development, helping to remove taboos and normalize dialogue on the subject, thus fostering a more supportive and empathetic work environment”.

Technology at the service of insurers

At ifeel, we know that the key to customer loyalty in insurance companies lies in offering personalised, accessible and high added-value solutions, using technology as a strategic ally to improve customer well-being and satisfaction.

It is, therefore, timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs. 

This service, thanks to our innovative triage system, allows insurers to receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs, and respond appropriately to their claims.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on customer loyalty in insurance interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

In this context, and in turn, impacted by the 2020 pandemic, healthcare providers have had to adapt, using technology and new platforms developed to bring health to more places. This is how ‘telemedicine and digital health’ concepts were born.

Telemedicine and digital health are transforming the way companies address the well-being of their employees. This technological revolution not only improves the efficiency of healthcare services but also offers innovative solutions for mental and physical healthcare.

What is telemedicine?

Telemedicine uses information and communication technologies to provide health services remotely. This includes virtual medical consultations, remote diagnostics, patient monitoring and the delivery of health information.

Health professionals can interact with patients without needing physical presence through digital platforms such as mobile applications, video calls, and messaging systems. This modality not only improves access to healthcare, especially in rural or hard-to-reach areas but also optimises time and resources for both patients and healthcare providers.

The evolution of telemedicine

Telemedicine and digital health, in general, have seen exponential growth in recent years.

For companies, especially those with a geographically distributed workforce, telemedicine represents an efficient and cost-effective solution. It is a modality that allows employees to access medical consultations without the need to travel, thus reducing waiting time and improving accessibility.

Benefits of telemedicine and digital health in companies

Integrating telemedicine into corporate health insurance offers a wide range of benefits that positively impact both employees and the organisation as a whole.

Some of the key benefits are highlighted below:

1. Immediate and convenient access to health services.

Telemedicine allows employees to access medical consultations and health services from any location, eliminating the need for travel and reducing waiting time. This is especially beneficial for companies with a geographically distributed workforce, as it ensures that all employees, regardless of their location, can receive timely medical care.

This modality has also benefited doctors and patients, making it easier for them to deliver services and access specialists. Studies show that 93% of physicians found clear advantages in using digital health tools, with the percentage of telemedicine visits growing from 14% in 2016 to 28% in 2019, and reaching 80% by 2022 .

2. Reducing costs

Telemedicine and digital health help significantly reduce the costs associated with traditional medical visits. Virtual consultations are generally less expensive than face-to-face consultations, allowing companies to lower their employee health insurance costs. In addition, telemedicine can help reduce absenteeism, as employees can receive prompt medical attention and return to work more quickly.

3. Improved employee productivity and satisfaction

Quick and easy access to health services contributes to the improvement of employees’ overall well-being, which translates into higher productivity and job satisfaction. Feeling supported by the company when it comes to their health, employees are more engaged and motivated, which strengthens the work environment and talent retention.

4. Personalised care and continuity of care

The integration of telemedicine and digital health into healthcare models allows for a more continuous and personalised follow-up of patients, facilitating the management of chronic diseases and the prevention of complications. This ensures more comprehensive healthcare tailored to the individual needs of employees, promoting better long-term health.

5. Innovation and efficiency in health management

Digital technologies enable companies and insurers to improve efficiency in health management and health insurance. Implementing digital health solutions facilitates real-time monitoring of employee health, optimising decision-making and claims management.

In addition, insurers can use these technologies to offer products and services that are more personalised and tailored to their customers’ needs.

Mental well-being solutions in the digital age

Mental well-being is a growing concern in the workplace, as stress, anxiety and other mental health issues can negatively affect employee productivity and well-being. For this reason, awareness of mental health care has increased, and health insurers need to be prepared to respond to patients’ demands in this area.

In this sense, telemedicine and digital health offer a viable solution to address these issues by providing mental well-being services through digital platforms, which make mental health care more accessible, personalised and efficient.

Javier Sordo Gómez, Head of People at Thoughtworks, an ifeel partner company, shares his experience:

“Before ifeel came into our lives, we had another company operating this space. However, it was much more limited and with a low usage level. During the pandemic, our partners asked us to approach the issue more holistically and align with our values to best support our diverse community. After a lot of research, we finally came up with ifeel, which was a perfect fit for our needs.“

Mental health solutions for insurers include online therapies, psychological consultations and mental well-being programmes, which enable employees to access professional support in a discreet and convenient way, fostering a healthier and more balanced work environment.

The downloadable talk, “Prioritizing Mental Health to Unlock Success,” underscores the importance of integrating mental health strategies within corporate settings. Featuring insights from industry leaders, the discussion reveals how telemedicine and digital health can be leveraged to provide accessible mental health support, ultimately driving organisational success through improved employee satisfaction and productivity.

Future of telemedicine and digital health

The future of telemedicine and digital health promises to be even more innovative. With the continued advancement of technology, we are already seeing the integration of artificial intelligence and advanced data analytics to further personalise healthcare.

In this regard, companies and insurers that embrace these innovations will be better positioned to offer efficient and effective healthcare services, thereby improving the overall well-being of their employees and customers.

In addition, telemedicine and digital health can play a crucial role in the prevention and management of chronic diseases, providing continuous monitoring and personalised support. This not only improves employees’ quality of life, but also reduces long-term costs for companies and insurers.

Technology for insurers and reinsurers

At ifeel, we know that telemedicine and digital health are redefining healthcare in the business environment. For the executives of large companies and insurers, these technologies offer a unique opportunity to improve the accessibility, efficiency and quality of healthcare services. This is why the strategic adoption of these technologies is not only an investment in the health of employees, but also in the future of the company.

It is, therefore, timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs. 

This service allows insurers to receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs, and respond appropriately to their claims, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.

We hope you found this article on telemedicine and digital health interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

However, despite the known importance of mental health being on par with physical health, there are still insurance companies that may reject claims if they do not consider the treatment to be “medically necessary.”

In the corporate environment, mental health is an essential part of employees’ overall well-being and has thus become a growing priority for businesses. They ensure medical insurance for their employees and proper mental health coverage.

The importance of mental health coverage in medical insurance

Mental health coverage in medical insurance is a critical component of employee well-being and a determining factor for productivity and job satisfaction.

Mental disorders, such as anxiety and depression, are common and can significantly impact a person’s work life. However, the greatest barrier to obtaining help can be the cost, which can hinder early intervention, worsening the patient’s symptoms.

In fact, research shows that nearly 42% of adults with mental illnesses reported being unable to receive necessary treatment, primarily due to the inability to afford it.

Therefore, a crucial part of a business strategy should be providing psychological support to its employees. This preventive measure not only improves staff well-being but can also lead to significant savings in costs related to mental health-related absences in the long term.

Kalina Pleil, People Operations Specialist at Labster, an ifeel partner company, highlights the importance of this coverage:

“Before choosing ifeel, we were offering health insurance in most of our locations but we knew that a healthy mind is just as important to the wellbeing of employ­ees. We also know that investing in wellbeing helps reach employees their full potential and benefits both people and organization.”

Benefits of including mental health coverage

Including mental health coverage in corporate medical insurance offers numerous benefits for both employees and businesses:

1. Compliance with regulations and social responsibility: Companies with mental health coverage in their medical insurance can comply with occupational health and safety regulations. This compliance not only avoids potential penalties but also reinforces the company’s reputation as a responsible entity committed to the well-being of its employees.
   
2. Reduction in absenteeism: Employees who have access to psychological services tend to take fewer sick days due to mental health issues.
   
3. Increased productivity: Adequate mental health improves employees’ concentration, creativity, and efficiency.
   
4. Improved workplace environment: A work environment that supports mental health promotes a more positive organisational culture.
   
5. Improved employee retention: Offering attractive mental health benefits can be a decisive factor for employee retention. In a competitive labour market, employees increasingly value benefits supporting their well-being.

Therefore, companies that provide mental health coverage can stand out as employers of choice, reducing turnover and the costs associated with recruiting and training new staff.

Javier Sordo Gómez, Head of People at Thoughtworks, an ifeel partner company, adds:

“In addition to encouraging safe environments, free of tension and unnecessary stress, companies can provide their employees with other tools. From solutions focused on mental well-being such as ifeel to offering healthy options to your employees, from the food you offer in your offices to discounts or subscriptions that encourage physical activity or self-care. .”

How medical insurance and mental health coverage work

Medical insurance can offer different types of mental health coverage, including:

• Individual and Group Therapy: Consultations with licensed psychologists and therapists.
  
• Psychiatric Treatment: Services from psychiatrists, including evaluations and medication management.
  
• Wellness Programs: Initiatives promoting mental health, such as stress management and mindfulness workshops.

Each insurance plan has its own policies and limits regarding mental health coverage. Therefore, companies must understand these variations to select the most appropriate plan for their employees. Key aspects to consider include:

• Number of Covered Sessions: Some plans may limit the number of annual therapeutic sessions.
  
• Referral Requirements: In some cases, a medical referral may be necessary to access psychological services.
  
• Medication Coverage: The inclusion of psychiatric medications and their coverage varies among different insurance plans.

Steps to implement mental health coverage in medical insurance plans

1. Evaluation of company needs

Before implementing or expanding mental health coverage, it is crucial to assess the company’s and employees’ needs thoroughly. This can include wellness surveys, analysis of occupational health data, and consultations with mental health experts.

2. Selection of the appropriate insurance provider

Choosing the right insurance provider is a strategic decision that can impact employees’ mental health. Factors to consider include:

• Experience and reputation of the provider: Evaluate the provider’s track record in offering mental health services.
  
• Flexibility and customisation: Opt for plans that allow customisation according to the specific needs.
  
• Support and additional resources: Consider providers that offer educational resources and additional support for mental health promotion.

Technology in insurance plays a key role in personalising and making these services more efficient, allowing better monitoring and attention to employees’ mental health needs.

3. Creation of a Supportive Environment

Creating a psychologically safe work environment that supports mental health is essential to encourage the use of psychological services. This includes DEIB strategies, non-discrimination policies, mental health awareness programs, and training leaders to identify and support employees with psychological needs.

4. Effective Communication of Benefits

Employees must be well-informed about the available mental health benefits and the positive impact these can have on their lives.

Companies can use multiple communication channels, such as internal newsletters, informational workshops, and Q&A sessions, to ensure all employees understand and utilise the mental health services included in their medical insurance plan.

Mental health and health insurance should be recurring topics in these communications to highlight their importance.

Redefining mental health for insurance

At ifeel, we know that integrating mental health coverage into medical insurance benefits employees by improving their well-being and mental health and offers significant advantages for businesses. In this regard, implementing mental health solutions for insurers can be a key factor in the success and well-being of their employees.

It is, therefore, timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs. 

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, accurately understand users’ needs and respond appropriately to their claims thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase the operational efficiency of their organisations.

We hope you found this article on mental health coverage interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.

Claims management is one of the most critical aspects for any insurer, as this process affects customer satisfaction and directly impacts the company’s profitability. Efficient insurance claims management ensures that policyholders receive fair and timely compensation while the insurer can minimise costs and prevent fraud.

What is Insurance claims management?

Insurance claims management involves receiving, evaluating, and resolving claims submitted by policyholders. This process includes verifying the claim’s validity, assessing the damages, and providing the corresponding compensation. Efficient management is essential to minimise fraud and reduce operational costs.

The importance of automation in claims management

Did you know that insurers receive up to 3.5 million claims each year? This number only reflects claims related to home insurance. Imagine adding the number of claims for car damages, illnesses, or any other area.

Now, consider that the regular process for responding to these claims depends on an analyst processing each one individually. Under these conditions, it is common for system failures, data errors, or high workloads to result in significant losses for insurers.

In this context, automating insurance claims management can address all these difficulties and offer the following benefits:

• Faster processing times: Significant reduction in the time taken to process claims.
• Cost reduction: Decreasing manual work reduces errors and operational costs. In fact, research has shown that automating the insurance claims process can help reduce costs by up to 30%.
• Improved customer satisfaction: Faster and more accurate processes enhance the customer experience.
• Fraud detection: AI tools can identify inconsistencies and flag potential fraud.

Key technologies in claims management

In the fast-paced world we live in, technology has been a great ally in optimising processes that previously required significant human effort. AI-driven tools can automate insurance claims management by extracting relevant information from documents such as insurance forms, medical records, and reports, converting them into structured data that computer systems can easily process. This implementation speeds up claim processing and ensures data accuracy.

The most commonly used technologies for facilitating claims management in insurance are:

• Optical Character Recognition (OCR): Scans and digitises physical documents, converting them into machine-readable text.
• Natural Language Processing (NLP): Analyses “unstructured” text to extract relevant information.
• Machine Learning (ML): Algorithms that recognise patterns in large datasets and improve their accuracy over time.
• AI-based template data extraction: Uses predefined templates to identify and extract specific data fields with high accuracy.

Mental health and health insurance

Utilising mental health solutions can reduce health insurance costs and improve productivity. Integrating mental health solutions can reduce medical claim costs by preventing stress-related illnesses and improving the overall well-being of insured individuals.

Regarding mental health for insurers, platform ifeel offers mental health solutions that can be integrated with insurers’ services to reduce costs and improve efficiency in claims management. Solutions like ifeel can save our global partners up to 40% in claim costs.

Integrating mental health solutions, such as those offered by ifeel, can result in significant cost reductions and improved well-being for insured individuals. By adopting these strategies, insurers can transform claims management into a more efficient, precise, and profitable process.

Technology for insurers

At ifeel, we know that insurance claims management is vital for insurers. Automation and the use of advanced technologies reduce costs, improve customer satisfaction, and facilitate fraud detection.

Therefore, it is appropriate for insurers to rely on experts to ensure their product remains at the forefront. Ifeel has developed a mental health solution for insurers to assist in this process, aiming to help insurance companies increase accessibility and reduce mental health claim costs.

Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health issues among their insured individuals accurately understand users’ needs and respond appropriately to their demands, thanks to our innovative triage system.

This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. Additionally, this solution helps reduce the frequency and severity of mental health-related claims, optimising risk management.

Clients like SCOR, AXA y Femi Connecting Healthcare already trust our services, improving their insured individuals’ quality of life and increasing their organisations’ operational efficiency.

We hope you found this article on insurance claims management interesting. If you would like more information about our mental health solution for insurers, simply request it, and we will contact your team as soon as possible.