Aon has launched an interactive tool to help companies measure the effects of Covid-19 on their workforce. It has initially been rolled out in the US but will be expanded globally.
The model and map help companies measure absenteeism, anticipate medical costs and identify where operations could be shifted.
The Covid-19 Employee Impact Model tool gives a state-by-state analysis of Covid-19 infections and pinpoints hotspots using epidemiologic models. It combines this with employers’ data on employee locations and their health plans, including any dependents also covered. Aon said it is recommended for firms with more than 300 employees.
“Covid-19 has brought on uncertainties in many aspects of our lives and this application will help employers understand their risks,” said Tim Nimmer, global chief actuary of health solutions for Aon. “Aon’s Covid-19 Employee Impact Model forecasts the impact on your employee population based on geographic-specific infection rates and advanced epidemiologic models.”
The model is updated daily but also features projected Covid-19 infections and medical claims costs. It also estimates numbers of mild cases, hospitalisations, ICU cases and fatalities linked to pandemic.
Options include adding metrics that model workers compensation claims, time lost, salary replacement costs, disability and life insurance, and cost savings of deferred elective medical procedures.
“Aon consultants will work with employers to build plans on how to keep employees safe while minimising disruptions to their operations,” Mr Nimmer said. “In these uncertain times, it is important that organisations have the most current information from which to base their decisions to safely maintain vital operations.”
The model was developed by Aon’s Actuarial & Analytics Practice, which is also looking at how to quantify productivity and the broader business impact of Covid-19.