All Group risk articles – Page 7
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Article60% prefer employers that support health and wellbeing when aged over 65
Almost two-thirds (60%) of respondents would be more inclined to work for an employer that supports their health and wellbeing with benefits and initiatives working past the age of 65, according to research by Canada Life Group Insurance.The survey of 1,004 UK employees also found 35% of respondents planning to ...
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Article42% with a death-in-service benefit do not know how much would be paid out
More than two-fifths (42%) of employee respondents who have taken up a death-in-service benefit do not know how much would be paid out to their loved ones in the event of them passing away, according to research by Direct Line Life Insurance.Its survey, which canvassed the opinions of 2,004 individuals ...
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Article47% believe they have a good selection of employee benefits
Under half (47%) of respondents believe they have a good selection of employee benefits to choose from, according to research by Thomsons Online Benefits.Global employee benefits watch 2018/19: giving employees a voice on global reward and benefits surveyed 2,200 employees in organisations of 4,000 or more employees in the UK, ...
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ArticleUber to implement paid protection benefits for 150,000 drivers
Taxi and delivery organisation Uber is to introduce paid protection benefits and one-off life event payments for 150,000 independent contractors across the UK and Europe.The new funded benefits, effective from 1 June 2018, have been designed to help provide Uber drivers with greater financial security to ensure that life events, ...
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Article29% of new group income protection claims in 2017 related to mental health issues
More than a quarter (29%) of new group income protection claims in 2017 were for mental health issues, according to research by Legal and General.The research, which is based on the group protection claims Legal and General paid in 2017, also found that the insurer has paid 2,614 group protection ...
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AnalysisHow can employers calculate a return on investment on group risk benefits?
Need to knowEmployers should make sure they are maximising all features of group risk benefits they offer.The benefits provided to employees must be communicated in a compelling and timely manner.Employers should also factor in employee sickness absence and the cost of sick pay.Nearly 12.5 million employees were covered by group ...
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AnalysisGroup risk in numbers
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Case StudiesMunich Re UK Services offers a number of core group risk benefits
Munich Re UK Services is a global reinsurer which covers life reinsurance, non-life reinsurance and global risk. The group’s headquarters are in Munich, Germany, and the organisation has more than 43,420 employees.Munich Re UK Services offers a number of core group risk benefits including: group life, private health insurance, private ...
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OpinionKatharine Moxham: Why group risk protection benefits tick all the boxes
Given that the government is drawing back, no one should be without a way to protect their own financial stability and that of their family, especially because according to the Office for National Statistics' (ONS’) Quarterly sector accounts, UK: October to December 2017, published in xx the UK household’s savings ...
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Case StudiesAssurant offers healthcare support as part of mental wellbeing strategy
Assurant is a global provider of risk management solutions, with 15,000 employees. Across Europe, Assurant has 1,300 employees, of which 1,100 are based in the UK. The organisation’s mental wellbeing strategy ensures that its employees have prompt access to healthcare and support and, importantly, is woven within its overall employee ...
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AnalysisThe role of group risk benefits in a mental wellbeing strategy
Need to knowMental health is often the number one reason for claims under group income protection.Many of these can be prevented through proactive and early intervention.Offered in conjunction with comprehensive early intervention services, EAPs can provide employees with access to the vital support they need.Mental wellbeing in the workplace is ...
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Article£1.6bn paid in group risk claims in 2017
Just over £1.6 billion was paid out by the group risk industry over 2017, showing a £120.5 million increase on payments made in 2016, according to research by industry body Group Risk Development (Grid).The research, which is based on claims data from Grid’s provider members, also found that 25,906 claims ...
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AnalysisWhat does a modern group risk strategy look like?
Group risk benefits, such as life insurance and income protection, have been around for close to 200 years. And, while their objective has not changed significantly, employers are now using them in a much more strategic way.Rather than provide group risk products simply as a perk or to match competitors, ...
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OpinionChris Morgan: Key themes for employers in 2018
Every year reinsurer Swiss Re publishes a report on the group protection market, Group watch. On the face of it, more interesting to industry insiders rather than employers, there are a couple of key themes which may be of interest to employers when considering future changes to their benefit programmes.Excepted ...
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ArticleDebbie Lovewell-Tuck: Measuring the value of group risk benefits
As our Group Risk Week, in association with Ellipse, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.The group risk industry is relatively mature compared to some areas of the benefits market. Yet, despite its ...
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Case StudiesJeremy Benn Associates offers group risk benefits to support staff health
Looking after the health and wellbeing of its 600 employees is a key focus for Jeremy Benn Associates, a firm of consulting civil engineers and scientists, focusing on flood risk management.Charlotte Parker, HR manager, explains: “One of the benefits we provide our staff is group income protection [provided by] Canada ...
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Article36% do not feel they are paid appropriately
More than a third (36%) of respondents believe they are not paid appropriately, according to research by the Chartered Institute of Personnel and Development (CIPD).Its UK working lives: the CIPD job quality index survey report 2018, which surveyed 350,000 employees, also found that 70% of respondents receive an employer pension ...
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Article12.5m people covered by group risk schemes in 2017
Nearly 12.5 million individuals were covered by group risk schemes at the end of 2017, according to research by Swiss Re.Its Group watch 2018 report, which is based on data collected from 16 product providers in the group risk market in the UK, 18 employee benefits consultancies and one independent ...
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ArticleEXCLUSIVE: FinTrU hosts health and wellbeing month to promote new benefits
EXCLUSIVE: Financial services outsourcing organisation FinTrU has held a health and wellbeing month in order to promote its new employee benefits package to its 234 Belfast-based staff.The health and wellbeing month, called Febulous Challenge, was held in February 2018 to help promote the group risk and health and wellbeing benefits ...
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ArticleEXCLUSIVE: 22% blame high employee absence rates on lack of health and wellbeing initiatives
EXCLUSIVE: More than one-fifth (22%) of employer respondents believe that their employee absence rates are higher than other organisations because they do not have health and wellbeing initiatives in place, according to research by Group Risk Development (Grid).Its survey of 500 UK employers, including 100 employers with more than 250 ...