Business

Mental Health Goals – Never More Important

The COVID-19 pandemic, as we know it, destroyed normality and caused public uncertainty, distress and anxiety. In addition to questions about the coronavirus itself, people around the world are exposed to social isolation, employment uncertainty, rising economic conflicts caused by pandemics, remote work and school education, and seemingly ever-changing COVID regulations. We are still working on alien issues such as navigating. Health and safety guidelines.

And now that many countries around the world are beginning to reopen, people are associated with returning to society and returning to their daily activities such as commuting by public transport, working in the office and exercising in the gym. I am facing new stress. Socializing in public spaces such as bars and restaurants. Basically, what used to be “normal” now … feels a little strange. And for some, it can be equal to the increased stress on their mental health.

Read next: Mental Health and Insurance: More to Do

In 2016, long before the world fell into the troublesome COVID-19 pandemic, the World Health Organization, the UN agency behind World Mental Health Day, called stress a “21st century health epidemic.” I was there. It can cause a variety of adverse effects, from malaise, headaches, chest pain, upset stomach, to more serious problems such as chronic pain and substance misuse.

Insurance companies have a duty to address mental health-related issues in many ways. They need to keep their customers, especially those who provide health care, workers’ accident compensation and life insurance products, as mentally healthy as possible and support the mental health of their employees. This is not an easy task, as many people tend to bottle their mental health issues rather than openly sharing them for help.

Therefore, the first thing an insurer must do is remove the historical stigma of mental health and make employees and customers equally willing to talk openly. From my point of view, the industry is doing a great job with this. Mental health has always been an important issue at Dive-in, a global festival of diversity and insurance, and more and more insurers and reinsurers around the world are investigating the importance of mental health. And publishes a report. We also hear about companies that create employee resource groups, support systems, and forums. In this group, people can connect and solve problems together.

Aside from the fact that supporting mental health is, frankly, right and humane, insurers engaged in this will also take a positive view from a business perspective. Modern research and science support the fact that poor mental health increases the risk of developing chronic and acute health problems and can have serious implications for the management and recovery of health problems.

IB Talk: Awareness of mental health

This is a major concern for insurance companies and employers, as mental health is closely linked to the outcome of physical injury claims, especially if the injured worker is experiencing chronic pain. Claims can grow significantly and dramatically if the injured worker does not receive adequate support for both physical and mental recovery. The entire insurance industry is exposed to CAT for many commercial and casualties businesses. By providing clients with comprehensive care and pain management, including mental health support, insurers can mitigate some of their financial risks and protect their balance sheets.

When it comes to maintaining mental health, I think the business case is simple. Happy and healthy employees are usually more proactive and able to reach their full potential than employees suffering from mental health. Employees with mental health are more likely to stay in the company for longer periods of time and recommend the company to others, given the ongoing shortage of talent in the insurance industry. This is an important factor. It can be difficult to quantify, but maintaining a mentally healthy workforce inevitably has a positive impact on a company’s bottom line over time. It’s a mutually beneficial scenario.

Mental Health Goals – Never More Important

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