We research thoroughlyand have a comprehensive knowledge of the whole Employee Benefits market place. It’s a complicated market, with structures ranging from simple insurance policies through to self-insuring trusts and multinational pooling arrangements.
We believe that the most appropriate way for us to advise you is to discuss the whole range of structures available to you. We provide details of the relative merits and disadvantages of each and assist with the structural decision making process.
Once the structure of the scheme is decided we then consider the nature and scale of the benefits. Benefits need to be appropriate within local markets and the market norm needs to be established. We need to ensure benefits are aligned or superior to your peer or competitor group. We then agree with you a plan and overall approach to benefits.
The final step in the process is to conduct a broking exercise with appropriate providers to obtain competitive premium terms for the desired benefits.
On an annual basis we review the arrangements in a similarly holistic manner. We confirm that the structure is still appropriate for the company, the benefits are still at or above the employee’s realistic expectations and that the premium rates are competitive in light of claims experience and market developments.
We endeavour to work with the providers to ensure that the administration required by the employer is kept to a minimum. Wherever we can add value we seek to take responsibility for the administration of the schemes, dealing directly with both the insurer and employees, and reporting as appropriate to the employer. Where we are unable to add value directly, we seek to establish an efficient interface between our client and the provider.