Innovation Showcase 1: Health Risk Analyzer

Building a Resilient Workforce

Historical patterns of slowly declining medical trend rates have been replaced by increasing rates due to aging populations, advancement of chronic conditions and high-cost injectable drugs and prolonged hospital stays due to multiple conditions, complex procedures and complications. Companies are facing increasing plan renewals and for those who are now or planning to be self-insured or have captive arrangements, these rapidly rising costs add additional risk.

The historical financial impact of employee health has been limited to medical program costs, but studies show that employee health and wellbeing impacts the broader organisation's performance. Therefore, it must be measured to include indirect costs as it further impacts presenteeism, absenteeism and retention.

Our clients have expressed a critical need for Insights, to allow them to take action with confidence to help optimise the effort and decisions they make to keep employees healthy and productive, is rising significantly.

Health Risk Analyzer

Data and analytics have already enabled companies to take leaps in understanding health risk and the associated risk factors to identify wellbeing initiatives and implement programs to further support employee health.

The Health Risk Analyzer leverages predictive capabilities to be forward looking and can help clients understand the new emerging health risks and the ongoing evolution of the health of their population. This enables the prioritisation of programs that are more likely to prevent or reduce future claims and deterioration of health, which will impact the productivity and presenteeism, absenteeism and retention of employees.

Key Insights

It was invaluable to us to get your feedback and inputs on how these tools may be used in your organisations to help optimise health programs. Below are some key insights we took from the discussion;

The biggest hesitancy is identifying individuals for the purposes of intervention. We can utilise personas, rather than individuals, to help employers understand the risk and opportunity but support members through methods that keep the employer from having individual information (automated messaging or opt-in capabilities).
There was general feedback that clients don’t have access to detailed data. How do we position this to request clients to reach out to us to determine if we already have this information (if they’re a client) as we most likely do have detailed claims data for clients in Singapore, Hong Kong, Philippines and possible for clients in Malaysia, Indonesia and Thailand?
Employers need support in identifying the actions they’ll be able to take away

If you would like to find out more about the tools presented at the open discussion please click the ‘Arrange Meeting’ button provided and we would be happy to discuss.

Amanda Singer
Senior Director,
Actuarial at Aon Centre for Innovation & Analytics
Aon
amanda.singer@aon.com

Learn more about our Human Capital Capabilities.