Clients demanding wellness support from insurers

Modern clients are expecting more from their life insurer than support at claim time, with support around improving physical and mental health becoming increasingly critical, a life insurer has said.

MetLife chief customer and marketing officer Chesne Stafford said the group's recently introduced 360Health wellness program had met with positive feedback from policyholders because of the insights it offered around making positive lifestyle changes.

"We’ve heard from many customers that the additional support they’ve received has had a positive impact on their lives," Ms Stafford said.

"The customer experience can be so much richer than just a transactional one – people now expect more from their financial providers."

Ms Stafford said the program was based on data collected "before and during the COVID period" and would be refined based on consumer demand for more help with looking after everyday health.

"We know that having access to tools and resources can have a tangible impact on health outcomes," she said.

"Now more than ever, looking after physical and mental health needs to be a priority for people, whether on claim or not."

Ms Stafford said while the program was new in Australia and the life insurer was "yet to see the full impact" on claims data, Health360 had proven in other markets to have a positive impact on clients' long term health as well as improving claims outcomes.

"We see helping people stay healthy or back to health quicker as a good thing," she said.

"As people are living longer we want to try to help them live healthier for longer – our research shows that most people want a better and longer health-span, not just a longer lifespan."

Ms Stafford said the insurer was working with advisers to educate them on the benefits of the program and how they could factor it in when assessing the suitability of MetLife's retail insurance offering, MetLife Protect, for clients. 

Clients demanding wellness support from insurers
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