Future flexibility and adaptability

Jan 16, 2024

Employer-sponsored health and life insurance solutions that are adapting to employees’ ever-changing needs

In a time where digital nomadism continues to rise and companies are increasingly hiring from a global talent pool to build a culturally diverse global workforce, employer-sponsored insurance solutions need to adapt and remain relevant to meet employers’ changing needs.

In the UK, more than seven in ten UK employees (72%) say they are planning on working in a different country as a ‘digital nomad’ – meaning that they can travel freely whilst working remotely. Employers are paying heed to this, with a third saying that their UK companies allow employees to work from different countries and nearly three quarters considering introducing a remote working policy.

The US shows a similar pattern, with numerous high-profile companies (like Airbnb) having adopted a ‘work from anywhere’ model. This is in response to the fact that the number of US digital nomad employees has more than doubled in a four-year period – from 4.8 million in 2018 to more than 11 million in 2021.

As Amanda White, Unisure’s Head of HR, explains, allowing employees to curate a work/life integration that resonates with their individual circumstances has numerous benefits for employers.

“Embracing the evolving work landscape by providing flexible benefits signifies a forward-thinking approach that really addresses the diverse needs of today’s workforce,” she says. “This flexibility extends beyond mere convenience; it offers tangible benefits that contribute to lowered stress levels, heightened productivity, and an enhanced sense of personal wellbeing.”

“By allowing employees to maximize family time, live in regions with a lower cost of living, and sustain a lifestyle that accommodates both professional ambitions and personal passions, employers instill a durable culture of trust and autonomy, both of which are critical ingredients for a thriving modern workplace.”

MetLife’s 21st Annual U.S. Employee Benefit Trends Study 2023 reports that the reasons employees want flexibility are as varied as ever: “From managing care for children or elderly relatives, to exploring travel and enjoying their hobbies, to pursuing advanced degrees or working on side hustles.” No matter what their reasons, however – the stats are clear: 77% of employees surveyed say that where they work is of paramount importance, making remote working flexibility an increasingly valuable talent retention and attraction tool for employers.

The companies that are going to be future proof in the face of rising trends like digital nomadism are those that offer truly flexible products that are relevant for the world we live in today and for what employees’ expectations are post the pandemic.

“In today’s competitive talent market, the provision of international policies by an employer is not just an attractive benefit – it’s a compelling differentiator that can tip the scales in favour of employee commitment and mitigate turnover,” Amanda explains.

“International policies really are a strategic imperative for global companies committed to nurturing a resilient, adaptive, and devoted workforce. Why? Because by offering your employees the security of health and life insurance policies that aren’t hindered by geographical borders, you’re fostering a sense of loyalty and belonging which can be instrumental in cultivating a cohesive workplace culture that transcends physical locations. Benefits of this nature not only significantly bolster talent retention, but they also invariably attract high-calibre professionals who value an employer that prioritizes their peace of mind.”

At Unisure, we’ve always placed a strong focus on providing multinational companies that have employees moving in and out of the UK, around Europe and Asia, and around Africa with international, fully portable health and life insurance policies. That means that our life insurance policyholders are covered outside of their countries of residence, no matter where they work now or in the future, and our health insurance members are covered worldwide, with access to 24/7/365 medical care and concierge support, anywhere and anytime.

As Unisure CEO, Barry Sundelson, comments, Unisure’s strength lies in our flexible products, always keeping the end customer in mind, as well as our agility to deliver personalised underwriting and take on unique risks that many other companies don’t have the appetite for.

“In order to truly serve your customers 24/7/365 and be there for them when they need you most, you have to have brilliant ideas, fantastic products, and a great team with accountable leadership. You also need to be agile enough to deliver personalised, unique solutions. Well, we have all of that, and more,” Barry says confidently.

“We’ve provided insurance to international bus drivers in Turkey, security professionals sweeping for mines in North Africa, and a whole host of other unusual risks. It gives us a slightly different way of looking at things and it’s that unique edge that makes such a difference.”

For more information on Unisure’s international health and life insurance solutions for corporates, visit www.unisuregroup.com.