ThoughtFull & AIA Malaysia Enter First-to-Market Partnership to Elevate Corporate Insurance
Digital Mental Health Platform ThoughtFull and AIA Malaysia Enter First-to-Market Partnership to Elevate Corporate Insurance with End-to-End Mental Health Support
The first-of-its-kind partnership in Asia will close a gap in existing employee wellbeing programmes with the provision of end-to-end mental healthcare within AIA’s portfolio of corporate solutions
KUALA LUMPUR, 28th July 2022 – Southeast Asian-based digital mental health platform ThoughtFull announces today that it has entered 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.
Addressing long-standing gaps in the region’s mental health coverage
According to the World Health Organisation (WHO), the COVID-19 pandemic triggered a 25% increase in the global prevalence of anxiety and depression in its first year alone. Despite rising attention to and prioritisation of mental health care globally with 81% of employees feeling at risk of burnout this year, a survey by Mercer Marsh Benefits has identified a gap between Asia 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% 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 coverage3. Under this partnership, AIA, one of the largest employee benefits providers in Malaysia, 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. This coverage gap, and consequently, the inherent costs of seeking mental health and well-being services have been a barrier to access for many. ThoughtFull is thus thrilled to partner with AIA, who has always been at the forefront of innovation, to address these mental health coverage gaps in the region and make end-to-end care even more accessible to all,” said Joan Low, Founder and CEO of ThoughtFull.
With evidence-based frameworks focusing on the spectrum of preventive to crisis support, the 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 we do to 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. Our decision to work with ThoughtFull was an easy one. Having experienced their services ourselves since the start of the pandemic, we saw first-hand the benefits that they had brought to our own employees through their genuine and seamless approach. As one of the country's largest employee benefits providers, we are optimistic of the positive change this partnership will bring to our ongoing efforts of enabling a healthier, happier and more productive workforce in Malaysia,” said Tung Hsiao Ley, Chief Corporate Solutions Officer, AIA Bhd.