Cluster performance – Corporate solutions
We seek to support the overall aim of offering uniquely integrated, employee-focused health and wellness solutions to corporate and institutional clients, reducing healthcare costs while increasing productivity and delivering tangible savings.
Developed and rolled out a WIDE RANGE OF HEALTHCARE AND CORPORATE WELLNESS OFFERINGS tailor-made and white labelled for Sanlam clients
VACCINATED APPROXIMATELY 200 000 CITIZENS, medical scheme members, the uninsured public and our staff, were vaccinated at our various centres around the country
THE INVESTMENT AND PARTICIPATION the nationwide vaccination programme AFFECTED THE PROFITABILITY OF THE SEGMENT
Revenue
Operating costs
Operating profit
Overview
AfroCentric corporate solutions offer health and wellness solutions and healthcare cover products for corporate employees, medical scheme members and individuals under the broad pillars of wellness, employee assistance programmes, occupational health, primary healthcare, health insurance and gap cover.
In particular, we recognise the importance of providing optimal care to employees while supporting employers' business objectives by offering:
- Flexible, tailor-made solutions for businesses of all sizes
- Proactive and preventative interventions
- Occupational health regulatory and legal compliance assurance
- High-quality, cost-effective and fully integrated care
- Beneficial pricing structures through the reduction of duplication and waste
- Optimised productivity due to improved employee health and wellbeing
Our value proposition for corporates
Our performance
The cluster continues to enjoy significant growth, producing improved results with the desired integration and operational efforts being realised.
A key highlight was the conclusion of negotiations with Sanlam Health Solutions Proprietary Limited to acquire a Gap Cover business that is supplementary to its current medical scheme offerings. The iMed system gives the cluster a competitive edge, as some of the smaller medical aid schemes contract to use it to administer these schemes.
The cluster did, however, experience some financial setbacks as a result of the vaccination drive, in which AfroCentric Wellness played a significant role on behalf of the AfroCentric Group. Following the vaccination drive, the business focused mainly on consolidating its operations to ensure that the crucial wellness clients – that is, medical schemes – received optimal service.
AfroCentric Primary Health Insurance (EssentialMED) grew its insurance book size by more than 20% year-on-year. The claims ratio showed signs of an uptick; however, this remained below pre-COVID levels, while AfroCentric Employee Health Solutions experienced challenges securing new projects.
Outlook
Corporate Solutions remains one of the most exciting business clusters within the AfroCentric Group. Having focused much of the current period on consolidating, rebuilding and repositioning our service lines, our efforts in the new year will be focused on digitisation, integration, rolling out of innovative solutions and optimising our distribution channel strategies.