Ellipse is to launch a new workplace absence and disability insurance product in mid-October specifically for companies with up to 300 employees.
The product, Sick Pay Complete, is designed to help employers deal with workplace absences by providing an online absence management system, TeamSeer, alongside long-term disability insurance for employees.
It replaces Ellipse's group income protection product, Interact.
The launch date for the new Sick Pay product is expected to be 12th October 2015.
TeamSeer is a cloud based application which allows employees to record sickness and planned absences, such as holidays.
Ellipse's case management team will then receive automatic notifications when sickness absences reach a period of 4 weeks, or sooner in some cases, so that early intervention and rehabilitation services can be provided as soon as possible.
Sick Pay Complete also includes a workplace support service, Support Matters, which will be made available to insured and non-insured employees and is provided by Workplace Options.
John Ritchie, chief executive of Ellipse, said: "Our new product is designed to really help SMEs deal with absence in their businesses, as this can have such a significant impact on both productivity and their insurance premiums. Early intervention is a crucial tool in helping employees return to work, but it is only effective with early notification. Simply put, we can't help an employee return to work if we don't know about them".
Ritchie continued, "SMEs are often the least prepared to deal with workplace absence. By providing them with the tools to record absence consistently and accurately, together with an on-hand support service to help employees and managers deal with workplace absence issues, we can present a more integrated and complete product solution than income protection alone".