Employee Benefits Insurance
Employees consistently rate benefits as one of the key factors in job satisfaction
and so it is important for an employee benefits package to be attractive to both
current and prospective employees. Employee benefits related to insurance are an
added advantage to companies in the war for talent as they can establish a company
as the “employer of choice.” In India, the awareness of the importance of these
insurance benefits is slowly catching up and in the coming years is surely bound
to influence a corporate’s ability to attract and retain highly qualified people.
Employee Benefits Insurance can be broadly classified into
- Group Health Insurance / Hospitalization Benefits
- Group Accidental Benefits
- Life Insurance Benefits
- Retirement Benefits
Throughout the world, Benefit professionals are becoming increasingly concerned
about the impact of rising health care on their companies futures and fortunes.
The sobering reality is that total health care costs in India will likely double
faster than anyone would like to admit. Employee benefits professionals need to
tread the thin line to balance the benefits choices that best meet both the business
objectives of their management and the needs of their employee population. And that
is where the Employee Benefits vertical at India Insure is ready to guide employers
to develop customized benefits plans that drive engagement, promote responsibility
and accountability, help participants manage health risk and chronic conditions.
Our Service Proposition
Portfolio Anaysis
- Carryout an expert evaluation and assessment of your needs balancing HR's desire
for extensive cover with concerns over premium spend
- Comprehensive analysis of your current employee benefits insurance program to guage
competitiveness and cost-benefit
- Conduct a review of prior claim and losses to identify trents & issues of potential
concern
- Funding Alternatives Analysis ( to check our other options like Self-Insurance,
etc).
Program Analysis
- Carryout an expert evaluation and assessment of your needs balancing HR's desire
for extensive cover with concerns over premium spend
- To Optimize the benefits program in line with established benchmarks
- Cost optimization through vendor relationship and volumes handled
- Optimizing administrative time and workload
- Optimizing communication
Plan Implementation & Support
- Endorsement tracking & Monthly Data Reconciliation
- Claims Advisory, Control and Management
- Monthly report card followed by monthly review-benchmarking performance against
SLA