HSBC Life today announced the launch of a leading digital employee benefits solution, HSBC Life Benefits+ to commercial customers in Hong Kong. A dedicated health and wellness proposition for Hong Kong employers with flexible group medical and life coverage and an immersive one-stop digital platform for employees, HSBC Life Benefits+ offers extensive support for businesses to look after employees' well-being, and attract, incentivise and retain talent.
Available to companies with as few as two employees, HSBC Life Benefits+ provides a viable solution to small and medium enterprises (SMEs), which account for more than 98% of Hong Kong’s business establishments (according to Trade and Industry Department, Oct 2020), to support the continued vitality and performance of the Hong Kong economy as it emerges from a global health pandemic.
Since pilot launch three months ago, HSBC Life Benefits+ already has over 20,000 digital users and has processed more than 26,000 e-claims. The proposition will now be made available to all commercial customers in Hong Kong.
In a highly competitive market for talent, companies are placing greater emphasis on employee benefits as part of their strategy to recruit and retain highly qualified people. The pandemic has further heightened people’s awareness of the importance of health and wellness. This could lead to rising expectations for better employer-provided support to enhance holistic well-being.
Edward Moncreiffe, Chief Executive Officer, Hong Kong, HSBC Life, said, “Employees nowadays are not prepared to work for monetary rewards alone. The ongoing pandemic has raised overall awareness of health and wellness to an all-time high, opening up opportunities for employers to demonstrate their duty of care particularly in safeguarding the health and well-being of their employees."
Walter W Y Chan, Head of Insurance and Investment, Commercial Banking, Hong Kong, HSBC, said, “Despite a challenging operating environment, Hong Kong businesses have demonstrated strong resilience and preparedness for a gradual recovery ahead. We can envisage SMEs to put more emphasis on recruiting and retaining the right employees in future planning, and the provision of comprehensive benefits has become an important element to support staff well-being. The launch of HSBC Life Benefits+ further enriches our suite of insurance offerings, reinforcing our commitment to meeting the evolving operational and human resources needs of the business community.”
HSBC Life Benefits+ is HSBC Life’s signature offering in the employee benefits space covering both group medical and group life benefits. It comes with a user-centric digital platform accessible via web or mobile for users to manage their wellness benefits and claims.
Key features include real-time tracking of benefit entitlements, usage and remaining balance, search for doctors/clinics, e-claims, e-health card as well as lifestyle assessment and tips.
The platform is also endowed with a health and wellness capability including access to an e-marketplace called Choices, where users can enjoy over 140 preferential offers for products and services from 18 partners at present. The latest addition to such offers includes special packages from Matilda International Hospital covering health assessment plans, eye check and vaccination programmes.
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