2019: A year filled with innovation and recognition
Acquisition of Tour+Med
In July 2019, Humania Assurance acquired all of the assets of Tour+Med, a major player in the long- and short-term travel insurance industry in Canada. Its customized approach enables Tour+Med to cater to the needs of Canadian baby boomers and travellers.
Having worked closely with Tour+Med for more than 10 years, the Company will be able to considerably improve our offering in both individual and group insurance.
Launch of the “Compassionate Care Leave” coverage for group insurance
In line with our values, Humania Assurance has included a “Compassionate Care Leave” clause in our long-term Disability Insurance guarantee. With this coverage, employees can go on temporary leave to take care of a loved one with a serious medical condition. Such employees could receive a monthly payment for up to 12 months during their absence from work. This innovative coverage will provide concrete benefits to businesses, by helping to attract employees and by reducing the direct and indirect costs of work absenteeism and burnout.
Earlier this year, the Company was among the winners of the prestigious Canada's Top 100 Employers 2019, a national competition that annually recognizes employers with the best workplaces. Humania was evaluated according to eight criteria including: physical workplace; work and social atmosphere; health, financial and family benefits; vacation and time off; employee communications; performance management; training and skills development; and community involvement.
Top Distinction Award from the Healthy Enterprises Group
At the ceremony on October 23, 2019 in Montréal, Humania Assurance received the top Distinction Award in the lifestyle and stress management category from the Healthy Enterprises Group. This award recognizes the initiatives taken under the program launched in May 2019 to measure the Global Employee Health Index (GHI). With a GHI of 70, Humania is ranked in the top range of companies that provide a healthy, motivating and productive work environment.
Two new coverages on the 5575.ca plateform
As part of our digital shift around individual insurance, we expanded Humania’s product portfolio on the 5575.ca platform in November 2019 with two new covers, including hospitalization insurance and medical expense insurance. These insurance solutions will help people between the ages of 55 and 75 to meet additional expenses not covered by the public medical insurance.
With this expansion, the Company can better position itself in the baby boomer market segment, which is growing but not underserved by the competition.