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11 Mar 2024
by Jo Gallacher

Health and protection benefits set to change in months ahead

Employers are rethinking how and what they offer in health insurance due to increasing costs

Health and protection benefits set to change in months ahead.jpg

 

Last week (6 March) we welcomed delegates to REBA’s inaugural Future of Workplace Health and Protection Summit to find out where the health insurance, group protection and health trust market is moving.

Employers can expect to see their insurance costs double within a few years due to high medical inflation globally.

REBA’s pre-event research found 44% of attendees are currently reviewing their health and protection strategy, with 42% expected to review in the next 18 months, demonstrating the level of change expected in the market in the months ahead.

The invitation-only summit explored:

  • How employers are juggling buying decisions and budgets for insurances and health-related products and services
  • What medical inflation will mean for health and risk insurance within two to five years
  • How accessing healthcare is going to change and what is driving that change
  • Ways artificial intelligence and advances in medical technology are, and will, shift clinical journeys and triaging of employee health needs
  • The evolution of insurance, prevention and wellbeing products and services ecosystems

REBA’s Future of Health and Protection Summit welcomed spotlight talks from Dr Subashini M, medical director at Aviva, and Yvonne Braun, director of policy, long-term savings and protection at the Association of British Insurers.  

The summit also featured panels and workshops on a range of topics, from workplace demographic shifts to the power of impactful wellbeing initiatives.

REBA would like to give a big thank you to all of the delegates, speakers, roundtable hosts, panellists, workshop participants and sponsors.

Though the event was under Chatham House rules, videos of our spotlight sessions and coverage of upcoming trends will be published in the coming weeks.

If you didn’t get a chance to chat to any of our sponsors you can contact them here.