"With millions of employees taking on caregiving responsibilities annually, there’s a growing need for employers to address this issue and take steps to mitigate the impact."
- Antonio Ribeiro, CEO & Founder of Yurtle
This product has been launched to support employees with child(ren) who become caregivers when their loved one’s care plan breaks down unexpectedly. Developed in partnership with Convex & Price Forbes, Yurtle’s Protect+ has been designed to reduce unplanned absences and alleviate the impact of unexpected costs for caregivers.
Policyholders will be provided with financial aid if their dependant is discharged from hospital and care is required pending an assessment/provision of support by the local authority; regular social care is interrupted for any reason, for example staff shortages; a child under the age of 15 years is unwell and unable to attend nursery/school; a nursey is permanently closed and an alterative solution needs to be found.
This product aims to address unplanned absences and alleviate the impact of unexpected costs for caregivers, which is a growing problem for employers. Yurtle quotes childcare-related absence as 183% higher than it was twelve months ago, whilst the number of working caregivers continues to rise.
“This is an exciting innovation that will allow employers to address absence while better supporting caregivers in their workplace when they need help the most. These unplanned absences can be extremely stressful for the caregiver and not only affect their work but that of those they work with, impacting productivity and profitability,” explained Antonio Ribeiro, CEO & Founder of Yurtle.
Oliver Tozer, Class Underwriter, Accident & Health at Convex, said the insurer is committed to delivering “tailored insurance solutions which meet our customers’ needs. Yurtle’s dedication to innovation within an underserved demographic of the workplace uncovered a distinctive opportunity which aligns with our values. We’re thrilled to collaborate with them to launch a product designed to support caregivers.”
“Yurtle offers an A* product supported by an A rated insurer that enables caregivers to access financial support at the times when it’s most needed,” concluded Daniel Dunlop, Director of Personal Accident & Contingency of Price Forbes.
