Legal & General has launched 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, intermediaries and their clients will be able to identify priorities, action plans and follow-up assessments to help improve wellbeing and performance, L&G says.
Legal & General has outlined three broad ways in which Fruitful Insights may be used by intermediaries:
- Value-add – Intermediaries might provide Fruitful Insights to the client, as a value-add from Legal & General, to help the client better shape their wellbeing strategy.
- Enhanced Wellbeing Consulting – Intermediaries can use the insights in conjunction with their client to identify gaps in their wellbeing programmes and align benefits to fully support their strategic wellbeing goals.
- Increase retention – The intermediary / employer relationship is strengthened via more frequent and more meaningful interaction, underpinned by the insights that help elevate health and wellbeing on to the boardroom agenda.
The insured added that intermediaries will receive access to a full programme of support, which is being developed over the coming months in response to intermediary firm size and requirements.
Mike Tyler, chairman of Fruitful Insights, said: “We wanted to partner with a forward-thinking organisation to support Fruitful Insights’ entry to the 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.”
Colin Fitzgerald, distribution director at Legal & General Group Protection, added: “We’ve been working with Fruitful over the last 12 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 Fruitful Insights 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.”