DIGITAL mental health platform ThoughtFull, has entered into a strategic partnership with AIA Malaysia to provide their corporate customers with end-to-end mental health support as part of the AIA Corporate Solutions portfolio.
This marks the first collaboration between a mental health platform and insurance provider within Asia that will empower organisations to support their employees' mental wellbeing with timely, personalised mental health resources, above and beyond insurance coverage for mental health conditions.
According to the World Health Organisation (WHO), the Covid-19 pandemic has triggered a 25 per cent increase in the global prevalence of anxiety and depression in its first year alone.
Despite rising attention to and prioritisation of mental healthcare globally with 81 per cent of employees feeling at risk of burnout this year, a survey by Mercer Marsh Benefits has identified a gap between Asian insurers and their global counterparts when it comes to the provision of mental health support, where one in three do not provide mental health coverage as part of their plans.
The pandemic has pushed employee wellbeing to the forefront of employers' agendas, with 49 per cent of companies implementing changes to their wellbeing programmes in 2020 according to a study by Willis Towers Watson.
However, a gap currently persists in the region with the lack of adequate mental health coverage.
Under this partnership, AIA, will integrate ThoughtFull's end-to-end mental health care capabilities into its corporate solutions portfolio. Together, both ThoughtFull and AIA will deliver improved stress, anxiety and depression management to corporate policyholders and their employees, unlocking new avenues for users to proactively engage with their mental health.
"Physical health and illnesses have traditionally been widely covered by insurance but the same can't be said for mental health and illnesses in this region," says ThoughtFull founder and CEO, Joan Low.
This coverage gap, and consequently, the inherent costs of seeking mental health and well-being services have been a barrier to access for many. With evidence-based frameworks focusing on the spectrum of preventive to crisis support, this partnership will tap into ThoughtFull's existing expertise in organisational wellbeing. ThoughtFull will provide seamless access to digital end-to-end mental health support, facilitating mental health care anytime, anywhere.
"We've long been advocates of the importance of mental health in the workplace and we believe that it should be given just as much priority as physical health. Which is why we are really excited to partner with ThoughtFull to bring new and innovative mental health services to our corporate clients and their employees, under our WorkWell with AIA proposition," says AIA Bhd chief corporate solutions officer, Tung Hsiao Ley.
This partnership will add to AIA's ongoing efforts of enabling a healthier, happier and more productive workforce in Malaysia, explains Tung.
