Yurtle, the innovative insurance technology company, has launched a pioneering product called Protect+.
According to Life Insurance International, this new insurance offering is tailored to support employees who are parents and carers. Developed in collaboration with carrier Convex and broker Price Forbes, Protect+ aims to address the challenges faced by working caregivers by reducing unplanned absences and mitigating the financial impact of caregiving.
The primary goal of this product is to support the workplace needs of parents and carers. Protect+ provides timely financial aid and coverage in scenarios where care arrangements are disrupted. This includes instances such as the discharge of a dependent from the hospital requiring immediate care, interruptions to regular social care, illnesses of children up to 15 years old preventing attendance at school or nursery, or the closure of a nursery necessitating alternative arrangements.
Yurtle is recognized for its commitment to developing targeted insurance solutions that address specific market needs. This approach not only enhances the stability of caregivers’ employment but also contributes positively to their employers by minimizing disruption and maintaining productivity.
Protect+ is designed to fill a significant gap in the insurance market by offering specific coverage options that assist working parents and carers during unexpected care breakdowns. This coverage is crucial as it ensures that employees do not face financial instability during already challenging times.
Additional features of Protect+ include tailored packages that cater to the unique needs of each subscriber, emphasizing Yurtle’s flexibility and responsiveness to the needs of modern workers.
Yurtle founder Antonio Ribeiro expressed enthusiasm about the launch: “This is an exciting innovation that will allow employers to address absence while better supporting carers in their workforce when they need help the most. Care breakdowns are very common – four out of five people caring for an adult have experienced one that has impacted their ability to work. These unplanned absences can be extremely stressful for the carer and not only affect their work, but that of those they work with, impacting productivity and profitability. With millions of employees taking on caring responsibilities every year, there is a growing need for employers to address this issue and take steps to mitigate the impact.”
Oliver Tozer, Class Underwriter, Accident & Health of Convex, commented: “At Convex, we are committed to delivering tailored insurance solutions which meet our clients’ needs. Yurtle’s dedication to innovation within an underserved demographic of the workplace uncovered a distinctive opportunity which aligns with our values. We are thrilled to collaborate with them to launch a groundbreaking product designed to support caregivers.”
Daniel Dunlop, director personal accident & contingency of Price Forbes, added: “Yurtle offer an A* product supported by an A rated Insurer that enables caregivers financial support at the times when it is most needed.”
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