UBX, the leading open finance platform in the Philippines, is doubling down its focus on insurance technology (insurtech), introducing an integrated employee financial wellness benefits ecosystem in Singapore.
During the Insuretech Connect Asia conference in Singapore, UBX Head of Business Development for Insurance Marc Gorospe formally introduced UBX’s Employee Benefits Platform, an integrated employee benefit financial wellness ecosystem that equips employees with financial tools and services, while also empowering companies to streamline their employee benefits, processes, and initiatives in one single platform.
Introduced in the Philippines earlier this year, the platform is an online portal that distributes, manages, and supports financial resilience and wellness through tools that allow employees to manage their finances and enable employers to efficiently conduct human resource (HR) practices.
“We are honored to be part of Insuretech Connect, the largest global gathering of innovators, industry players, and investors in the insurtech arena. We believe that introducing UBX’s Financial Wellness Employee Benefits Program during this conference is the best avenue for UBX to launch its first open finance product in Singapore,” Gorospe said.
First rolled-out to UBX employees, UBX’s Employee Benefits Program integrates insurance management systems, HR administration tools, Insurance management and upsell/cross-sell, Earned Wage Access/Salary Loan, mental health and flexible perks, and employee bonuses into one platform.
It is a fully-customizable, modular and highly-scalable solution that also allows companies to integrate their own benefits-related providers.
PwC’s recent Employee Financial Wellness Survey recommends employers to provide their employees with tech-driven financial wellness tools paired with executive guidance to prevent financial stress from taking a toll on their well-being.
The integrated employee benefit ecosystem also helps companies engage their employees better by consolidating the very fragmented employee benefit experience, while also introducing new financial wellness services.
“We are strengthening our operations in Singapore beyond the office’s mandate to invest in, partner with, and acquire startups that allows us to further drive our agenda of including everyone through open finance,” UBX President John Januszczak said.
