NASHVILLE, Tenn. & SYDNEY
TAL, Australia’s largest specialty life insurer, has partnered with global well-being improvement leader Healthways, Inc. (NASDAQ: HWAY), to offer well-being improvement solutions for up to three million members that TAL covers through its employer and pension-based partnerships. This expands the value TAL delivers by helping members live healthier, more productive lives. Healthways’ proven well-being strategies can also support TAL’s disability income protection insurance customers in their return-to-work and rehabilitation programs.
The incidence of preventable chronic disease is increasing in Australia, along with the associated costs. Organizations representing multiple industries throughout Australia are bringing Healthways’ well-being improvement solutions to their customers and employees as a proven way to positively influence total population health, mitigate costs and support business growth.
Well-being is a concept that goes beyond physical health alone to encompass the important aspects of how individuals experience their daily lives. The five elements of well-being – sense of purpose, social connections, financial security and confidence, community and physical status – have a direct and indirect impact on an individual’s physical health and job performance.
“We are excited about the opportunities our clients will have to build a stronger connection with their members through these innovative programs,” said Sean Williamson, general manager of client solutions at TAL. “This partnership takes our commitment to supporting our customers to a new level, and we are delighted to partner with Healthways to offer new value to our partners, policy holders and employees.”
Under the agreement, TAL will offer well-being improvement solutions through a variety of their customer channels. Both TAL and Healthways expect that there will be a growing demand for these services over time. Healthways will provide TAL with its comprehensive well-being assessment tool as well as an interactive digital platform to support well-being goals. The assessment will be used to obtain accurate, detailed information individuals need to monitor their health and make positive behavior changes. The online experience will include personalized well-being improvement plans, along with tools such as activity trackers and educational resources.
“Healthways has helped more than 1,200 companies around the world improve the health of the populations they manage with our tried-and-tested approach to well-being improvement,” said Linda Swan, M.D., president of Healthways Australia. “TAL customers will have unrivaled support to improve the well-being of their members and employees, which will translate into greater productivity, a healthier workforce and a healthier bottom line.”
Well-being strategies help individuals to live better, longer, and benefit employers by improving workforce productivity and reducing absenteeism. Studies of populations over time have shown that individuals with low well-being are four times more likely to have high healthcare costs than those with high well-being. At the same time, individuals with high well-being are four to seven times more likely to be high performing in the workplace.
Healthways has continued to experience growth in Australia since entering the market in 2009, bringing its total population health management solutions to private insurance, government and corporate clients. Healthways’ programs are delivered in Australia through locally registered health professionals and supported by a clinician-led local management team.
“Large insurers on four continents have successfully leveraged Healthways’ well-being platform and operational expertise to fuel growth and innovation while managing costs,” said Ben R. Leedle, Jr., president and chief executive officer of Healthways. “By bringing this approach to the life insurance industry in Australia, TAL is at the forefront of a burgeoning global trend recognizing well-being improvement as the path to sustainable lifestyle changes, more productive workforces, and stronger communities.”
About TAL: The specialist voice of life insurance in Australia
TAL is Australia’s largest life insurance company with leading competitive offerings in each of its core distribution channels: direct to customers; through financial advisers; and via group and workplace superannuation schemes. With in-force premiums of $2.2 billion, TAL provides more life insurance solutions to Australians than any other insurer. TAL is owned by The Dai-ichi Life Insurance Company, Limited, one of Japan’s largest life insurers.
About Healthways
Healthways is the largest independent global provider of well-being improvement solutions. Dedicated to creating a healthier world one person at a time, the Company uses the science of behavior change to produce and measure positive change in well-being for our customers, which include employers, integrated health systems, hospitals, physicians, health plans, communities and government entities. We provide highly specific and personalized support for each individual and their team of experts to optimize each participant’s health and productivity and to reduce health-related costs. Results are achieved by addressing longitudinal health risks and care needs of everyone in a given population. The Company has scaled its proprietary technology infrastructure and delivery capabilities developed over 30 years and now serves approximately 68 million people on four continents. Learn more at www.healthways.com.
CONTACT
Healthways, Inc.
Chip Wochomurka, 615-614-4493
Chip.Wochomurka@healthways.com
