Companies are now rapidly shifting towards outpatient department (OPD) benefits, and emphasizing on preventive screenings, annual checkups, and mental health support. Further, mental wellness has become a core part of employee well-being programs, with 74 per cent of employers incorporating mental health services. Additionally, companies are defined benefit structures to defined cost structures, giving employees greater flexibility in choosing benefits tailored to their needs. Also, demand for pet care benefits is rising, particularly in IT/ITES and E-commerce sectors, catering to younger employees and those with pets, according to the findings.
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Highlights of major sectors |
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Sectors |
Findings |
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51% of cos offer graded sum insured; 77% provide maternity coverage
Accident & Life covers have seen slight increase in higher brackets
BFSI
66% offer graded sum insurance
94% ogranisations provide maturity benefits
CTC linked accident & life insurance benefits
E-commerce
61% of companies provide flat family floater sum insured
New covers include maternity-related complications and menopause
Greater emphasis on mental health coverage and offering personalised benefit cover
FMCG
63% offer a graded sum insured offering flat family floater cover, there is a shift in the median value
OPD benefits are offered by 7% of organizations
Source: Prudent Insurance Brokers
First Published: Sep 14 2024 | 12:39 AM IST