Important catalysts like widespread vaccination rates and the easing of pandemic-related restrictions continue to shake-up the business landscape and present opportunities for organisations to rise above the ever-changing workplace of today.

The transition to a remote workplace against a backdrop of new and evolving financial, political, regulatory, technological and climate-related risks will create a ‘sink or swim’ scenario for organisations and a flow-on effect on their employee engagement and performance. Employers who can ‘swim’ will create high-performing workplaces, resilient employees and safe work environments.

Read on to find out what’s on the horizon for your workforce in 2022.

The continuation of travel interruptions

As individuals and organisations return to the skies for leisure and business travel in 2022, the travel insurance sector will continue to experience changes in coverage and exclusions. Corporate travel policies will need to be flexible with clear and concise inclusions to ensure any employee that is impacted by evolving COVID-19 scenarios and border restrictions is adequately covered – with confidence. To counteract increases in risks and consequent insurance premiums, we expect to see a reduction in organisations who decide to include comprehensive leisure travel coverage under their corporate travel policy.

It’s critical your organisation considers how it will manage the impact of COVID-19 and travel interruptions on your team, whether it’s an employee being delayed interstate and unable to continue their duties or contracting COVID-19 outside of the office – how you support your people through their lives outside of work is just as essential as the support you provide “on the clock”.

Access anywhere, anytime with technology

The line between home and work has well and truly been blurred, alongside the responsibility of an organisation to protect its people in and out of the office. While the rise of flexible working has enabled many to be more productive and efficient, where do you draw the line on how to handle an employee that is unable to work due to an injury this person sustained in their home? Regardless of where an accident occurs, it will likely still impact your team’s performance and output – and you can manage this by taking advantage of the technological advances that have occurred across our industry. Whether your team is grounded overseas or interstate due to a positive COVID-19 result or snap lockdown, technology will allow you to monitor and predict injuries as well as communicate important preventative information to your team.

Mental health to the forefront

The pandemic has shone a light on mental health and reduced stigmas that exist around mental illness. While many assume mental illness develops outside of the workplace, research indicates that job stress and other work-related psychosocial hazards are emerging as the leading contributors to the burden of occupational disease and injury.

At Gallagher Bassett, we recognise a healthy and safe workplace benefits all employees, including those with a mental illness. Organisations who forgo strategies to support employees with mental health concerns will pay the price, and face a loss of productivity due to absenteeism or increases in claims as a result of mental injury in the new year.

Stabilisation of the life insurance market

The life insurance market has experienced some challenges across the past years, with increases in losses and sales across the board. However, there is light on the horizon for the life insurance sector, with customer demand at an all-time high and signs the market is starting to stabilise. Life insurance has an opportunity to fulfill the needs of tomorrow’s workplaces, but will need to be flexible to meet the changes in customer preferences and a challenging regulatory and interest-free landscape.

The regulatory effect

The introduction of new regulatory and legislative changes in 2021 will continue to challenge insurers to ensure organisations and workplaces are compliant with current laws. Workplaces will be more reliant than ever on claims professionals to provide guidance, solutions, education and training on applicable laws and regulations in 2022.

 

To find out how your organisation can capitalise on the accident and health trends of 2022, head to https://www.gallagherbassett.com.au/general-insurance-claims/accident-health/ or connect with John White at john_white@gbtpa.com.au.

Blog Author

John White

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