Most businesses already know the advantages of offering the right employee benefits to their workforce. However, some businesses overlook the importance of such products and beneficial role an intermediary can play when securing cover.
With that in mind, here are four key benefits for businesses when partnering with a broker who can offer a full range of employee wellbeing solutions, including employee benefits, insurance and occupational health services:
No two businesses are alike. So it stands to reason that generic, ‘off-the-shelf’ group risk cover is unlikely to be a good fit or provide the right protection for your business and its employees.
Having worked closely with insurers over many years, intermediaries will usually know which insurers are a good fit for the profile of your employees and the type of underwriting required. This, plus the intermediary’s expert knowledge and dedication to finding not only the best deal financially for their clients, but also the right product(s) translate into a better deal for the business.
As well as ensuring you find the best fit for your business and its employees, intermediaries are also in an excellent position to help employers understand all the fine details of potential cover. As is often the case, businesses are reluctant to ask too many questions to insurers directly (or ask the wrong ones), which is why being able to seek advice from intermediaries when considering cover is so beneficial.
An intermediary will ensure the business understands every aspect of the policy and will be happy to clarify anything in the event there are questions.
As my colleague Claire recently highlighted, communication is key for businesses that want to make the most of their employee benefits offerings. Substandard or non-existent communications will ultimately result in poor awareness among employees and, in turn, lower levels of adoption.
Intermediaries can actually help with communication prior to and during the employee enrolment period to ensure awareness and uptake are both as high as possible.
The final benefit to businesses of partnering with an insurance intermediary is the more personal, service-oriented experience associated with doing so.
First and foremost, intermediaries strive for client satisfaction, which is why most will go out of their way to ensure a business is happy throughout the lifetime of their cover.
Then there is the fact that intermediaries will also assist during any claims processes that may arise. So instead of a business contact having to deal directly with an insurer, the intermediary will do so on the employer’s behalf. This saves the business time, money and frustration, while all the time ensuring the best result is achieved.
Premier Choice Group and our professional team of consultants are here to help you successfully navigate the entire market. Contact us today to find out more about how we can assist you and your employees.
Let us worry about your cover needs, while you concentrate on running your business.