The latest partnership news from MetLife and YuLife, who have an income protection offer ready for the market;
MetLife UK, the protection and employee benefits insurer, and YuLife, the tech-driven financial services brand on a mission to inspire life, are partnering to support wellbeing in the workplace. Today they announced the launch of their joint Group Income Protection proposition for the UK market. Now, MetLife UK’s Group Income Protection customers will have access to a specially developed version of the YuLife app.
The partnership aims to “keep work working” by encouraging daily employee engagement with mental and physical wellbeing activities through the YuLife app, which complements MetLife’s existing early intervention tools, clinical rehabilitation, and proactive absence management support.
MetLife UK and YuLife’s Group Income Protection proposition, which is designed to deliver better outcomes both for individuals and businesses, comes as workplace absenteeism has reached an all-time high, with UK employees absent on average 7.8 days per year. Rising absenteeism, which can partly be derived from low levels of mental and physical health, is rapidly becoming a concerning issue for businesses, given the increased chances of employee burnout and reduced productivity in the workforce. This is exacerbated by under-resourcing in the NHS, which can also slow down rehabilitation rates.
The UK risks a shrinking workforce, with absenteeism rising dramatically since Covid hit. There are now nearly 2.5m adults of working age on long-term sick leave, and this partnership aims to address this and set a new standard for Group Income Protection policies.
A massive 87% of YuLife users have reported an improved level of wellbeing from better access to such tools, which promotes long-term employee health and productivity. The proposition offers incentives for employees to take control of their health from their first day of work, improving productivity and ultimately reducing sickness absences.
Dominic Grinstead, CEO of MetLife UK, commented: “We are thrilled to be deepening our partnership with YuLife. We believe the integration of a unique gamification element around our Group Income Protection product will enhance employee wellbeing and empower employers to “keep work working”. Our existing partnership with YuLife for Group Life Insurance has already shown successful outcomes, motivating us to extend our partnership into Group Income Protection. Together, we are creating a highly valued business tool that is designed to enhance productivity and mitigates the risk of long-term absence.
“This unique offering is more than just a wellness app embedded into an Employee Benefit offering. It’s the start of a digital transformation of insurance. By gamifying wellness, it brings all the benefits of this employee benefit package forward, ultimately preventing absence and reducing the risk of having to make a claim. The benefits of this app come ahead of other early intervention services – we are innovating the insurance ecosystem with pre-early intervention.”
Sammy Rubin, CEO and Founder, YuLife added: “Partnering with MetLife UK represents a significant step forward in YuLife’s mission to transform financial services into a force for good. Early prevention starts with healthy habits, and by combining YuLife’s award-winning gamified technology with MetLife’s intervention and rehabilitation services, we are creating a proposition that helps employees take proactive steps to mitigate potential health issues, delivering a truly preventative solution. We are ensuring that employees are not only protected but are also motivated to enhance their wellbeing, setting a new standard for Group Income Protection by focusing on better outcomes as a result of prevention, early intervention, and rehabilitation support.”
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