Mental Health, Well-Being Stresses on Insurance Workers


The Australasian Life Underwriting and Claims Association’s recent Well-Being Research has found that one in five of workers within the life company sector rated their well-being as either fair or poor.

A statement from ALUCA says the aim of its well-being and WFH ( working from home) research was to provide pointers on the mental health and well-being of workers in the life insurance sector, the longer-term implications of working from home, key work stress factors and how to improve support in these areas.

The research results highlight the impact to the well-being of life insurance underwriters, claims and other life insurance professionals living through the effects of the pandemic.

Key headline results include:

  • One in five 5 (20 percent) rated their well-being as either fair or poor
  • 79 percent of those surveyed stated they are experiencing more job stress versus 23 percent pre-Covid
  • 40 percent stated that their mental health is worse now than it was pre-Covid with 17 percent stating it was better and the rest rating it as the same
  • 98 percent would like to continue working from home in varying degrees – 58 percent a few days a week, 25 percent full time and the remaining stated occasionally
  • 90 percent feel that their companies have responded well to the pandemic
Mark Raberger…the association’s report also provides four key pointers for the life insurance sector to consider…

ALUCA’s Chair, Mark Raberger says it is encouraging to see that so many respondents stated that their life insurance organisations are providing employee well-being programs and had good initiatives to support mental well-being.

“However, there is still a small percentage who are not perceived to be doing enough or providing programs that help their employees with their well-being. We need to work on closing that gap. “

He also notes that it’s important for the life insurance sector to acknowledge and act on the number of people stating they are experiencing more work stress now than they were prior to Covid with one in five suffering with their well-being being rated as poor or fair.

The association’s well-being report also provides four key pointers for the life insurance sector to consider when looking at how to improve and support well-being:

1) Ensure well-being is embedded as part of the company culture

2) Balancing work-load – providing the right skills, tools, and processes

3) The people piece – communicate, collaborate and connection

4) The “new” normal – working from home (WFH): The Covid pandemic has highlighted the need for organisations to focus on the challenges and the opportunities presented by widespread remote working.

The association’s Deputy Chair, Dr Matt Paul says it is important that action is taken to reduce the high level of people experiencing work stress and poor well-being in the life insurance sector.

“We know how important well-being is and the harmful impacts of the Covid-19 pandemic on mental health. The cost of not understanding employees’ emotional well-being can create subtle but profound effects upon organisational success and health.”

ALUCA says it has committed to undertake a follow-up survey to continue to monitor mental health and well-being of life insurance underwriters, claims and other life insurance professionals.