An ICICI Lombard Employee Benefit Survey has found that India INC is seeking innovative solutions for employee healthcare in an effort to cope up with the rising cost pressure.
It has unveiled its research on ‘Trends in Employee Benefit Programme – 2013’, the first of its kind research that provides interesting insights into the healthcare covered subscribed to by companies across industries including IT, Manufacturing, Banking etc. It also delves into the challenges faced by decision makers, juxtaposed against the employees’ expectations. The comprehensive research was conducted by ICICI Lombard, through an online survey comprising 500 corporate clients across India. The exercise was complemented by personal interviews, gathering opinions and testimonials from senior executives of corporate clients.
Commenting on the research, Sanjay Datta, Chief, Underwriting & Claims, ICICI Lombard GIC Ltd. said “Indian corporations are increasingly realizing the importance of employee healthcare, amid rising healthcare costs and employee expectations. ICICI Lombard’s research on Employee Benefits Programme -2013 is an important step towards understanding the needs, perceptions of employers and thus offer effective and innovative solutions in this space. In this comprehensive research exercise, we have also explored the plausible future trends in Employee Benefits Programme e.g. Preventive healthcare and Wellness initiatives, which will be embraced by both employees and employers”.
The research has also looked at the variation in employee’s healthcare expectations vis-à-vis employer perceptions. It has covered respondents across varied sectors including Banking and finance, IT & ITES and manufacturing. Going beyond the findings, ICICI Lombard has analysed its claims related data which throws interesting findings. Among these include the rising trends of critical illness like cancer, among the younger age group namely 26 – 35 years.
