Home News Legal & General Group Protection launches unique ‘value of wellbeing investment’ platform

Legal & General Group Protection launches unique ‘value of wellbeing investment’ platform

by wrich
  • An exclusive partnership with Fruitful Insights, a new analytical tool that quantifies employee wellbeing impact on productivity.
  • Fruitful Insights gives Legal & General’s group income protection clients the insights to design, monitor, manage and communicate a winning workplace wellbeing strategy, supporting sustainable businesses.
  • Eight in ten employers say having a good wellbeing strategy in place can bring about key business benefits, yet a quarter (24%) only have an ‘informal’ plan in place and just over one in ten (13%) don’t have anything in place at all.

Legal & General today announces the launch of an exclusive partnership with Fruitful Insights that the insurer says will provide a unique indication of the costs associated with impaired wellbeing and productivity and the factors that underpin those losses. Based on this intelligence, employers will be able to identify priorities, action plans and follow-up assessments to help improve wellbeing and performance.

Legal & General says the platform brings benefits to both employees and employers. Provided on a complimentary basis to the insurer’s group income protection clients covering a minimum of 100 employees, it will: equip employees to take steps to improve their own wellbeing via personalised reports and signposting to wellbeing benefits and services; help employers quantify their wellbeing performance, prioritise investment and enhance organisational effectiveness and monitor their progress.

Fruitful Insights’ models and algorithms were designed by Mike Tyler, a well-known name in the employee benefits consultancy world with extensive client experience with key roles with a number of established intermediaries. He completed the MSc in Workplace Health at University of Nottingham and is continuing his doctoral research.

Legal & General outlines three broad ways in which Fruitful Insights may be used by employers:

Quantify performance – Unprecedented levels of data to help quantify the impact of impaired wellbeing on organisational effectiveness.

Prioritise next steps – Actionable insight to help employers prioritise areas to target to enhance their wellbeing strategy.

Enhance effectiveness – Comprehensive analysis highlighting the strategic wellbeing priorities for the business and providing the insights that help elevate health and wellbeing on to the boardroom agenda.

The provider adds that employers will receive access to a full programme of support, which is being developed over the coming months in line with feedback.

“We wanted to partner with a forward-thinking organisation to support Fruitful Insights’ entry to market. Legal & General is clearly innovating in the group protection space – including integrated thinking with regards to its wellbeing framework Be Well, Get Better, Be Supported, and also its HR Communication Toolkit – this was a natural fit for us.

“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.”

Mike Tyler, Chairman, Fruitful Insights

“We’ve been working with Fruitful over the last twelve months and the timing could not have been better for us at Legal & General as we built our ‘Be Well’ Health & Wellbeing philosophy.

“At Legal & General we take a ‘so what’ approach to building our solutions; we want them to be focused, useful and tangible. That way they can add real value to customers. And that’s exactly what the Fruitful solution does.

“We believe the combination of Fruitful Insights – a data driven approach to assist both the employer and the employee – and Legal & General’s innovation, create an informed way to engage and support employees in the workplace, and our exceptional group income protection return to work numbers evidence our commitment to support customers in running their business.

“Together, this is an irresistible and compelling combination which really talks to customer needs.”

Colin Fitzgerald, Distribution Director at Legal & General Group Protection

“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.”

Rachel Nimmo, HR Manager KUKA UK.

 

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