• Wellx has joined hands with Fit on Click to transform the corporate wellness space by offering hyper-personalized health insurance plans for organizations and individuals
• This partnership will reward and incentivize positive behavioral change at the individual as well as corporate level through bespoke corporate wellness programs curated to reduce health insurance premiums
JUNE 2022, Dubai, United Arab Emirates: Wellx, the region's first wellness insurance platform, and Fit On Click, a corporate wellness and sports service provider of UAE leading its way since 2015 have partnered to bring a new dimension to corporate wellness & insurance. By embedding wellness into existing corporate insurance plans, Wellx and Fit On Click will make employees healthier, and reduce healthcare spending thereby having a direct impact on premiums.
The partnership between Wellx and Fit On Click will give an opportunity to small, medium, & large corporates to incentivize and motivate employee wellness, create productive work environments, and boost team morale, all whilst optimizing activations to reduce claims and premiums on health insurance plans.
Wellx programs and plans are designed to create healthy, happy, and resilient communities, in line with UAE's National Strategy for Wellbeing 2031. “There is a distinct link between employee wellness and health insurance premiums. In a study done on the ROI of Employee Wellness programs, Harvard researchers have concluded that for every dollar that was spent on employee wellness, medical costs fall by $3.27, and absenteeism drops by $2.73.”, says Vaibhav Kashyap, co-founder, and CEO, Wellx
How will Wellx track & reward positive behaviors with the help of Fitze?
This partnership will also see Fitze, a fitness rewards app by Fit On Click, integrated into the Wellx ecosystem, which will allow Wellx customers to earn cashback by participating in steps challenges through the app.
Fitze's existing customer base will also have access to discounted health insurance plans from Wellx, which will incentivize them for completion of their daily, weekly, and monthly step goals on Fitze. Fulfilment of these challenges & goals will lead to reduced annual insurance premiums, purchased from Wellx, thereby making for an exciting proposition for individuals & corporates alike.
“Apart from reducing premiums, employee wellbeing also has a direct impact on corporate performance. Creating accountability and transparency around employee well-being is no longer ‘nice' to have, it's a vital part of doing business in the modern world. According to a recent report by Deloitte, companies that received high scores on a health and wellness assessment appreciated by 235% on the S&P 500 index, in comparison to others, who just appreciated by 153%, over a 6-year simulation period”, mentions Javed Akberali, co-founder & Managing Director, Wellx.
“Today it is imperative for corporates to invest in their employees' well-being and health. This doesn't only help the employees, but also churns out big profits for the companies, in the long run. According to a recent survey, 38% people said that wellness programs have helped them take a few sick days off, thus improving productivity and overall output for the company. By partnering with Wellx, we are not only going to supercharge rewards on completion of Fitze challenges, but our users will also have the ability to purchase the Wellx health Insurance plans at a discounted price”, added Ben Samuel, Founder and CEO of Fit On Click and Fitze.
Although being fit is critical, it is also important for corporates to invest in wellness programs that make the working environments safe, comfortable, and secure. A solid corporate wellness program can positively impact the productivity of the employees, thereby increasing revenues and profits. A small investment for a good, profitable change! Benefits of corporate wellness programs include:
• Higher productivity & positivity in the workplace
• Higher employee morale, engagement & retention
• Improved employer branding, internally and externally
• Corporate ratings through ESG initiatives
• Lower absenteeism and medical costs
• Bottom-line impact by reducing claims and renewal premiums