Easy Savings on Your Group Insurances

Throughout the recession many organisations have been looking at ways to scrimp and save without either effecting their delivery or staff morale, tricky task I know. Many organisations have found great savings in a full review of their group insurances, some saving in excess of 20% on their premiums when doing a full market review.

With all the insurers fighting for your business there has been no better time to cash in and ensure the most competitive group insurance rates. Even staying with the same insurer you could see savings of between 5%-10% but if you take the time to shop around those savings could well double.

There are many reasons why your group insurance review may well not have taken place, the policies had been reviewed last year, you don’t have the resources or you may well even be content with your current provider.

The key benefits where savings can be made our in the likes of your group life insurance, health insurance, critical illness and income protection insurance policies. Going to market and getting the insurers to compete for your business can result in some drastic savings. Savings that do not affect staff morale or your delivery.

There are other plans to review in addition to the big four which can cut you cost base with the likes of dental insurance, health screenings and travel insurance to name a few. Whether it is a corporate medical scheme with a 1000 employees or a small 20 employee scheme signing up for the policy renewal without doing a simple market comparison can be as good as throwing money away.

If you are coming up to a renewal or are to review the group insurance market to ensure your rates are competitive then let us know, we can help take the burden of the review off your hands and help you make considerable savings without having to change your current provision. If you would like to have an informal chat to discuss your situation just let us know, either submit your details or give us a call.