Zarah ChoudharyYurtle, a B2B solution, is launching an insurance product, Protect+, to support employees who are parents and carers when their usual care breaks down.
This insurance, developed in partnership with insurance carrier Convex and insurance brokers Price Forbes, provides a solution designed to reduce unplanned absences and alleviate the impact of unexpected costs for carers.
The insurance provides cash support to parents and carers in various situations where additional care is needed.
This includes when a dependent is discharged from the hospital and requires care while awaiting an assessment or support provision from the local authority.
It also covers cases where regular social care is interrupted for any reason, such as staff shortages or the illness of a carer.
Additionally, financial support is available when a child up to the age of 15 is unwell and unable to attend nursery or school.
The policy extends to situations where a nursery is permanently closed, helping parents find an alternative solution.
In these situations, cash from insurance can make a huge difference providing a valuable safety net until professionals can step in.
This payment can be used to pay friends, family or alternative providers, vastly reducing the stress associated with the situation.
It allows employees to better manage both their work and care responsibilities, reducing the need to take time off work at short notice.
Antonio Ribeiro, founder of Yurtle, said “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 and health of Convex, said “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 and contingency of Price Forbes, said “Yurtle offer an A* product supported by an A rated Insurer that enables caregivers financial support at the times when it is most needed.”
