According to a poll commissioned by Prudential in April, one in three SME employees said that their companies do not have a dedicated HR team to take care of their medical and employee benefits. Within the same poll, SME employees also shared that they cannot easily find information about their benefits, with one in four saying that their company manages their benefits through email.
“Simplifying group insurance and making it easily available to employees through digital solutions such as Business@Pulse will encourage more companies to address the protection gap. This will go a long way in engaging a hybrid and digital-first workforce while providing the necessary protection for employees, which are important in view of Singapore’s ageing workforce and rising healthcare costs,” says Dennis Tan, CEO of Prudential Singapore.
SMEs account for over 99% of businesses in Singapore and 70% of the country’s workforce. However, many do not provide medical and employee benefits, says the insurance provider in its statement on Sept 7. In a poll conducted by Prudential, 90% of SME employees polled say that they want their employers to provide healthcare coverage; 60% said that they are more willing to join a company that provides medical benefits.
The app is available to Prudential’s enterprise customers, from multinational companies to small businesses with at least three employees.
