AXA ICAS Wellbeing has helped corporates across the globe to enhance their employee performance and development over the last two decades
AXA Insurance [Gulf] - one of the top five insurers across the GCC - today announced that its revolutionary Employee Assistance Programmes [EAP], launched in the Gulf recently, is aimed at helping corporates achieve long-term, healthy and sustainable growth. These one-of-its-kind employee wellbeing assistance programmes, which can be offered in tandem with the health insurance options for corporates, are proven to go a long way in increasing productivity, reducing absenteeism, enhancing corporate brand image, reducing stress and sickness levels and also helping retain/recruit staff.
The launch of the new wellbeing programmes comes amidst concerning health trends emerging in the region. According to a study by McKinsey & Co., healthcare costs across the GCC is expected to increase from $12 billion to $60 billion by 2025 - a large majority due to stress at work. Stress has now passed backache and musculoskeletal as the biggest single source of sickness absence. Latest research found levels of stress at work to be reasonably high among the employees in GCC. In fact, statistics from a Bayt.com and YouGov research reveals that 85 per cent of employees in GCC suffer from stress.
In a similar vein, other studies have proved that the GCC has among the highest rates of obesity in the world, one of the primary risk factors for Type II diabetes. Diabetes is the cause of some 290,000 deaths in the GCC.
Hence, the new product from AXA is a major extension in its portfolio in the region offered through its subsidiary AXA ICAS Wellbeing - one of the world's leading providers of wellbeing and employee assistance programmes. AXA ICAS has been delivering these services internationally for over 20 years with offices and network of providers and affiliates in more than 30 countries spanning six continents. These services support over 1.8 million employees in 1,700 companies worldwide.
In his comments, Paul Firth, Head of Wellbeing Services at AXA Insurance (Gulf), said: "The health risks statistics in the region are alarming. Changing health issues and individual lifestyles - especially in the Gulf - requires a new approach on how we manage health. The AXA Wellbeing offering - Employee Assistance Programmes - provides this approach that empowers individuals to make healthy choices and give them the tools to address their own, particular needs. It is imperative that as a leading insurance solutions provider, we at AXA support a change to how individuals improve and manage their health proactively. The Employee Health & Wellbeing Programmes, which are common in most other countries in the world, are still alien in the GCC and we are privileged to bring this to the table first."
He added: "As a global organization, AXA's mission has been to invest in local health markets, creating and promoting awareness of the benefits of employee support programmes in general. Guiding this strategy has been the commitment to provide all services locally, using where possible local intake centres and clinical and account management teams in the local language. We have opened a new AXA ICAS Wellbeing office in Dubai, offering our first Arabic-speaking intake centre in the world. This forms a major part of the global expansion of our health and wellbeing business."
Reinforcing the impact of the AXA wellbeing programmes, Atkins - one of the leading engineering design firms in the UAE, has adopted the same. In his comments, Mr Ed Kolber, Regional HR Director at Atkins, said: "We are very pleased to be the first company in the region to adopt the AXA programme. For us, this is about providing an extra level of care and support to our team, many of whom are a long way from their home countries and their network of friends and family."
The employee wellbeing investment is built on three pillars - Human Capital Management (reduced absenteeism, improved productivity, less staff turnover); Health Care Costs (reduced by early and appropriate intervention) and Organizational Benefits (morale, skills development, preferred employer, crisis intervention, management support).
"Proactive workplace health and wellbeing strategies can promote and develop a healthy business culture. Various studies confirm a direct link between productivity levels and the general health of a workforce. According to research, the least healthy employees are 25 per cent less productive than the healthiest. This will not only reduce the healthcare costs of the corporates but also benefit them through improved employee productivity, which ultimately will affect the bottom line," said Firth.
An Employee Wellbeing Programme is designed to restore and strengthen the physical wellbeing, mental health and productivity of employees and the corporate employer. It provides information and guidance on different aspects of the employee life, such as Personal and family problems, Work issues, Drink and drug related problems, Childcare or other family issues, Financial problems and Consumer rights.
The EAP is a confidential life management and personal support services which will help employees deal with everyday situations and even serious problems. Available 24 hours a day, 365 days a year, the professional services are provided by teams of skilled specialists. The range of issues include: Financial - money management, debt, mortgage arrears, negative equity, child support, financial education; Legal - consumer complaints, insurance claims, neighbour disputes, road traffic accidents, child custody, divorce law; Relationships - family, work, partners; Personal Support - Telephone Counseling and Face to Face Counseling adhering to all confidentially and strict code of professional ethics.
"If we go by the success achieved, we should take a look at Johnson & Johnson - the leading manufacturers of pharmaceutical, diagnostic, therapeutic, surgical, and biotechnology products, which introduced EAP in 1977, covering over 100,000 employees globally. The Group has saved on $250 million in healthcare costs over the past decade. With the EAP, there has been a 86 per cent improvement in emotional wellbeing, while 50 per cent improvement in work morale & motivation besides 45 per cent improvement in work-life management coupled with 4 per cent lower voluntary attrition," summed up Firth.
AXA ICAS Wellbeing has carved a niche across the globe with specialization in employee assistance and wellbeing programmes, occupational health services and sickness absence management. It boasts of a team of 40+ consultants who provide a broad and holistic approach on the programmes. AXA Insurance [Gulf] is leading the GCC in providing health insurance products and with this first-of-its-kind wellbeing offering in the Gulf, it has become a significant market differentiator.
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About AXA in the Gulf:
With a workforce of over 650 employees, 12 offices region-wide, more than 500,000 customers and a gross written premium of over $445m, AXA is the largest international non-life company in the GCC offering a wide range of insurance products and services for corporate and individual customers. AXA Gulf was awarded Insurer of the Year 2009 at the Gulf Insurance Awards & Policy's Middle East Insurance Awards.
About the AXA Group:
AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2009, IFRS revenues amounted to Euro90.1bn and IFRS underlying earnings to Euro3.9bn. AXA had Euro 1,014 billion in assets under management as of December 31, 2009. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA.
For additional information, please contact:
Alexis de Beauregard/ Lianne Braganza-D'Sylva
AXA Gulf Marketing,
Tel: +971 4 4294050/ 4294054
Alexis.debeauregard@axa-gulf.com, lianne.dsylva@axa-gulf.com
© Press Release 2011
