The employees have a reason to smile with the launching of a range of employee benefit insurance products aimed at corporate organisation, says Resolution Health East Africa.
Work Injury Benefits Act (WIBA) plus, Group Personal Accident(GPA) cover and Group life Cover(GL) are the new products from the company produced through the partnership of various underwriters and re-insurers. This is according to the Resolution Health Chief Executive officer, Peter Nduati.
Nduati said that through the identification of the growing need for the products and the increasing value of attachment of organisations to their human resource is the drive towards the introduction of the products.
“Most employers realize their employees are the most valuable asset their business has, and they appreciate the importance of providing good quality health care coverage to them,” said Nduati.
He said that with the launch of the employee benefits products, the company becomes an all-insurance provider by offering employee group benefits that shield employers from increasing insurance premium apart from consumer-driven health plans.
“We not only provide consumer-driven health plans but also group benefits aimed at shielding workers from the increasing premiums while providing employees with competitive employee benefits, he said.
The WIBA introduced under the new employee benefits cartegory provides a 24 hour world wide cover for the employers legal liability to employees under the workmen’s compensation Act, for death, bodily injuries or illness arising out of and while on employment. The Group personal accident on the other hand offers to provide financial protection under the event the insured has been involved in an accident and is unable to work in the accordance with the policy document, while the Group life insurance offers a high and flexible free cover with no extra charge for critical illness according to the CEO.
Nduati said the launch is part of the overall strategy to align the company’s product portfolio with the change in consumer needs.
“We believe that we have responsibility to keep up our consumers aspiration by responding to their requests while providing value for money,” said Nduati.
He added that the company after sealing a deal with a German-based private equity fund, African Development Corporation (ADC) will help control the strategic direction of the business.
Early this year ADC had bought a 25 per cent stake amounting to 184 million shillings from Resolution Health that saw the company acquire three out of seven board seats to control the strategies.
The company caters for over 50 thousand corporate and individual members with over 350 medical service providers across the country.