FinTech Magazine - August 2022 | Page 76

VITALITY
If customers adopt better habits , not only are they benefitting from being healthier , but their health risk factors are reduced , which is better for insurers and society as a whole . Ultimately , it ' s what the company calls ‘ Shared Value ’.
Klintworth says : “ Society is demanding that companies have a strong social purpose . By focusing on the creation of a healthier society , we believe we are at the forefront of this . Ultimately , what ' s good for us is good for our members and thus for wider society – member-led healthcare actually fits into that whole framework .”
A growing customer base Vitality ’ s target market is twofold : the first target is made up of individual members who , through accessibility , convenience , and speed of access , drive some of the market ’ s needs ; the second big component is employee health and wellbeing . More and more companies are offering private medical insurance and are aware they need to provide something that ’ s appropriate for their entire workforce .
“ We seek to provide the private medical insurance that is right for each company ' s circumstances . Some , for example , may for whatever reason not cover all employees . Recognising that these companies often still wanted a wellbeing programme for the wider workforce that could support them to be healthier , we devised a programme that featured key aspects of the Vitality Programme and access to primary care for the whole workforce .”
The Vitality team is increasingly seeing primary care , which would previously have fallen out of the remit of private health insurance , becoming one of the most used services . Klintworth explains that there is much people can now do to understand their own health better . When they have

Stories Behind Positive Change | Vitality UK

76 August 2022