Benefit Broking
- Reducing Cost
Clever broking of your employee benefits is one of the most successful ways to reduce the costs of your reward programme.
We have the data and know how to disprove some of the myths surrounding employee benefit take up within a flexible arrangement. With experience of delivering benefit programmes for over 200 clients, we are uniquely placed to challenge the benefit providers on their attitude to the risk inherent in your organisation.
For each benefit, we will lead you through a menu of cover options explaining the extent to which each option affects the price that you pay, the benefit for the employees who use it and how employees perceive that aspect of the cover. Therefore, we are ensuring that you are maximising the value of the benefit at the same time as minimising the cost.
Because of this unique insight, we have been able to prove that clients who have appointed Thomsons as their provider, are on average paying over 10 per cent less for their risk benefits – regardless of whether the benefit is flexible or not. However, our recommendations are never one dimensional, we also look at:
- Financial strength of the provider;
- Flexibility of contract;
- Level of contract charges;
- Provider service standards;
- Pension investment performance;
- Technology compatibility with our Darwin platform.
