The Prudent Insurance Brokers study showed that preventive screenings, annual check-ups and mental health support are becoming key features in group insurance policies, with an average sum insured of Rs 10,000 being the most preferred cover, followed by Rs 15,000 in active OPD programmes.
The study covered more than 1 million workers in 3,100 organizations.
Mental wellbeing has taken centre stage, with 74% of employers incorporating it mental health services in their wellness programs, the study shows. Companies are expanding outpatient care and counseling services to support physical and mental health.
The other trend is towards personalized health benefits, particularly in sectors such as e-commerce, IT/ITES (information technology and information technology-enabled services) and fast-moving consumer goods (FMCG), where companies are moving from defined benefit structures to defined cost models to provide more flexibility to employees to tailor benefits to their specific needs.
Diversity, equity and inclusion (DE&I) initiatives are also gaining momentum, particularly in the BFSI, FMCG, IT/ITES and e-commerce sectors, the study shows. Companies are also offering gender-affirming surgeries, fertility treatment and inclusive benefits for LGBTQ+ employees and people with disabilities, it shows. Pet care benefits are on the rise, especially in IT/ITES and e-commerce, catering to younger employees and those with pets, as 75% of employees want to work for companies that offer comprehensive benefits packages, the study shows. The report showed that most employees are provided with group health insurance with a cover of Rs 5 lakh and maternity benefits worth Rs 50,000. Some industries like BFSI and e-commerce are offering up to Rs 1 lakh per C-section.
The study shows that insured seniors, particularly parents, account for 60% of total claims, prompting employers to implement measures to control rising medical costs. Employers are using strategies such as limiting parental coverage, introducing co-payments and placing tighter restrictions on room rentals.
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