Legal & General has entered into an exclusive partnership with Fruitful Insights to gauge the costs associated with impaired wellbeing and productivity and the factors underpinning these losses.
Based on this intelligence, intermediaries and their clients will be able to identify priorities, action plans and follow-up assessments to help improve wellbeing and performance.
It is available free to group income protection schemes covering more than 100 employees and the insurer said it will:
- equip employees to take steps to improve their own wellbeing via personalised reports and signposting;
- help employers quantify their wellbeing performance, prioritise employee wellbeing investment and enhance organisational effectiveness;
- provide intermediaries with the data and insights to identify areas of unmet need and better support their clients’ drive to achieve improved employee wellbeing.
Legal & General added that intermediaries will receive access to a full programme of support currently under development over the coming months in response to intermediary firm size and requirements.
Fruitful Insights’ models and algorithms were designed by Mike Tyler, who has held key roles across at Lockton, Buck Consultants and Mercer. He completed his MSc in Workplace Health at the University of Nottingham in 2017 and is continuing his doctoral research.
Tyler, chairman of Fruitful Insights, said: “There are lots of wellbeing solutions in the marketplace but they’re arguably very siloed.
“They don’t look at all aspects of wellbeing, from the physical and psychological, to the workplace environment, leadership practices and culture. We’re really excited to bring this capability to Legal & General’s proposition.”
Rachel Nimmo, HR manager at Kuka UK, said: “We decided to participate in the Legal & General Fruitful pilot because wellbeing has always been a focus for us at Kuka.
“It’s a key topic on our agenda and we really wanted to take wellbeing to the next level. We recognise that supporting our employees with their health and wellbeing really does have an impact on the bottom line and productivity.
“The outputs of the assessment gave us a starting point in terms of data and insights for us to build our wellbeing strategy. We met with the senior management team to go through the results.
“We’ve also met with our employees’ forum, to talk through the results, and that led to us creating a wellbeing plan for the year. We’re definitely glad that we participated in the pilot and are now focussed on rolling out the plan for the rest of the year.”
