Latest Blog: Lower Your Group Benefits Rates by Understanding Their Pricing Strategy

Tourism Association of Vancouver Island

Industry: Tourism
Client Since: Dec 1, 2019
Services Provided: Group Benefits

The Challenge

This mid size group was in a closed benefit plan that offered no customization or flexibility. Employees were asking for options that weren’t available from their current carrier. To compound the problem, the Executive Director was operating in an information vacuum: he received no information regarding plan usage and the employees had not received an explanation concerning the scope of their benefits plan and what coverage was available. The organization wanted to provide a degree of customization to their employees and to have their team members better understand the coverage available in order to attract staff and grow in size.

Our Approach

In order to help the Tourism Association of Vancouver Island, we started compiling data with a benchmarking report that provided information on comparative plans for tourism organizations in British Columbia. We also surveyed the management staff to determine which types of benefits their employees valued most. With this data, we developed a customized benefit plan and selected the insurance carrier most appropriate for their needs.

In addition, we provided plan administration training and employee education sessions. Our employee focus included a demonstration of the new insurance company app so that members can easily find information about their benefits coverage, account balances, claims history and, of course, submit claims.

As part of our ongoing service, during the first year of the new plan, we examined the plan utilisation data every 3 months and scheduled an appointment with the Executive Director to review how the plan was being utilized and to make appropriate adjustments. On an ongoing basis we have two face to face meetings per year and continue with employee and plan administrator education and training.

The Results

  • As a result of the changes, there has been an improvement in employee morale, higher retention of existing staff, and a greater ability to attract new team members resulting in a 30% increase in staffing. Through customization and employee education, utilization has remained within industry norms creating a stable and sustainable plan.

More Case Studies

View

View reimagined something that hadn’t changed for centuries – the simple window – and in so doing, built the only complete, cloud-native platform to deliver on the promise of smart buildings: happier, healthier occupants, improved energy-efficiency, lower operating costs, and higher asset values.

Underhill Geomatics Ltd.

Underhill Geomatics is a group of professional land surveyors and geomatics engineers providing full service geomatic consulting and technical services. With offices in Vancouver, Kamloops, Fort St. John, and Whitehorse, Underhill is recognized as one of Canada’s trusted professional surveying companies providing services throughout BC, the Yukon, the Northwest Territories, Nunavut, and all of Canada.

Tourism Association of Vancouver Island

Tourism Vancouver Island is a not-for-profit organization designed to support the regional tourism industry of more than 3,000 businesses, for both travellers and locals alike. Their staff of tourism professionals are skilled in areas of strategic planning, governance, destination development and infrastructure, industry support, destination marketing (including travel trade and travel media engagement) and market research.

Delta Gymnastics

Delta Gymnastics Society is one of Canada’s top gymnastics clubs and believe that it’s due to the way they treat each of their gymnasts, at every level. Their goal is to give children a lifelong passion for physical activity and to empower them to become successful people.

What we do for our clients

Each business is unique with its own culture and priorities. Its health and wellness programs should reflect the diverse needs of the business and its people. We help employers to create a comprehensive benefits strategy that allows them to cater for their peoples’ needs, attract and retain top talent, and create a sustainable environment in which their organization and employees can flourish.

Employee Benefits

As an employer, you want to ensure your employees are happy in both their professional and personal lives. That’s why you need a strategic, data driven approach that encompasses this objective whilst also remaining within your budget constraints.

Employee Retirement & Saving Plans

Retirement and Savings plans are an integral part to an employee’s financial and mental health well being. Employers who are able to assist their people with knowledgehelp and tools are rewarded with greater loyalty and productivity.

Corporate & Personal Insurance

Protecting your business, your people, and their families when the unexpected happens is key to ensuring financial stability to your organization, and all its team members.