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An insurer placed on the rewards to promote the well-being of employees

by

Aurélia Morvan

22 March 2019 13:30

The Sun Life Financial has partnered with BestLifeRewarded to offer to employees of its customers of the group retirement access to a platform promoting the well-being in exchange for rewards. The goal being, ultimately, reduce the direct and indirect costs incurred by at-risk behaviours. This partnership is part of the initiative Equipped for the future of the insurer.

Currently in the testing phase, the platform will be deployed more widely in April 2019, says the Journal of insurance Diane Lafontaine, assistant vice president, marketing and communications, group retirement services, Sun Life Financial.

A personalized plan

Specifically, the employee who wants to use it will begin by filling out a questionnaire for assessment of risks to the overall health. His answers will help to identify weaknesses and set goals for improving his situation. From there, a personalized plan will be created and the platform it will propose actions to be taken in order to achieve its purposes.

An employee who wants to walk more may synchronize his watch connected or smart phones with the platform to enable it to know if it performs the number of steps that it is fixed. Anyone who wants to feel more relaxed will be able to earn points if he attends a session of yoga or meditation. The one who wants to improve his financial health may earn points if it participates in webinars, teaching him how to manage his budget or planning for retirement.

Rewards to the key

The employee will receive points every time that he will perform actions favorable to his personal goals. These points can then be converted into rewards determined by the employer, depending on the desires and priorities of the company.

Depending on the number of points accumulated, employees will be able to earn gift cards or even donations to charitable organizations. Those that accumulate the most points will win the contest organized in-house by their company. “There are even employers who are proposing to convert the points into money that can be paid to an RRSP or health care spending account of the employee,” says Ms. Lafontaine.

The confidentiality respected

All personal data will be confidential. For example, if an employee indicates that he drinks too much alcohol and wants to work to solve this problem, her employer will not know it. The employer will have access only to data relating to its entire group of employees.

“By having more information about employees together, the employer will be able to implement actions in their favour. If it finds that 50 % of its employees reported to want to walk more, for example, he may encourage them to go for a walk after their lunch break, ” says Diane Lafontaine.

An approach that is “proven scientifically”

Founded in 2010, BestLifeRewarded states collaborate with more than 12 000 organizations and canadian companies including Alberta Blue Cross, Environment Canada or theUniversity of Victoria. The company accompanies and more than 3 million Canadians.

Sun Life Financial has chosen to partner with this company because ” it’s the only one that took into account the financial health, in addition to the physical and mental health “, but also because ” their approach is based on the behavioral science, scientifically proven “, says about Diane Lafontaine.

According to the results of BestLifeRewarded, 18.8% of the users of their platform are less stressed, 16.5%, and eat more fruits and vegetables, 14,6 % have stopped smoking and of 8.15 % sleeping better. “The results are better and long-lasting when they are based on the priorities of the people,” says Ms. Lafontaine.

A similar initiative has been launched by Manulife in 2018. In partnership with the american company Vitality, the company offers to clients of its group insurance and individual platform, Vitality, encouraging the physical activity.

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