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Customisable health solutions for diverse employee needs
THE INSURANCE TIMES
|May 2025
What was once a customary inclusion in an employee's CTC is now evolving into a strategic component. The idea of group health cover might not be new, but the way benefits are structured and designed today definitely is. India's corporate structure is changing with the fresh influx of companies and so are the workplace dynamics.
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What was once a customary inclusion in an employee's CTC is now evolving into a strategic component. The idea of group health cover might not be new, but the way benefits are structured and designed today definitely is. India's corporate structure is changing with the fresh influx of companies and so are the workplace dynamics.
Employers, therefore, are rethinking their approach to employee wellness and healthcare. Beyond medical coverage, companies are exploring mental wellness programs, preventive healthcare benefits, and flexible coverage options tailored to diverse workforce needs.
This shift is particularly pronounced for SMEs and MSMEs that have to perform a delicate balancing act between budget and benefits. After all, competitive benefits play a crucial role in talent acquisition and retention for them.
Meanwhile, the rise of the gig economy is encouraging the insurance industry to extend coverage beyond the traditional framework of corporate insurance. As businesses navigate this evolving space, customisable health solutions are emerging as the answer for diverse employee needs.
From basic medical cover to holistic wellness
Traditionally, corporate insurance policy used to be a need-based coverage focused on hospitalisation and basic medical expenses. With rising awareness around preventive healthcare, companies are now integrating holistic wellness programs that include teleconsultations, mental health support, fitness incentives, and stress management solutions. According to industry reports, over 70% of employees now prefer organisations that offer comprehensive wellness benefits beyond conventional medical insurance.
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