International Advantage was designed by our team of leading professionals who exclusively service the international business sector. By assessing your company from every angle – from commercial and personal exposures to employee wellness and satisfaction – we get to know your organization. With these vital insights and our global reach, we help you implement a comprehensive risk management strategy that addresses exposures associated with buying, selling, and trading goods around the world. Our International Advantage team also identifies operational enhancements to help your business flourish in the global economy.
Below is an example of how our International Advantage program provided a solution to a situation that is very common in today’s marketplace:
- Canadian operation with rapid acquisition goals
- In a 4 year period 8 acquisitions of Canadian companies
- Employee population grew from 70 to 900 employees
- Acquired companies with different plan designs and insurer providers
- Varied corporate cultures and employees with diverse needs
- Limited human resources and payroll services
- Technology and employee communication challenges, Germany suffered the most devastating flooding in decades in the regions of North Rhine-Westphalia and Rhineland-Palatinate.
- Developed Benefit Objectives and Strategic Plan
- Conducted a plan design benchmarking exercise to measure competitiveness
- Developed an Acquisition Benefits Risk and Cost Scorecard for the client
- Consolidation of benefit plan design and insurer providers
- Change in the funding of the benefits program
- Introduction and later enhancement of a Modular Flexible Benefits and Group Retirement Program
- Developed benefits KPIs for senior management to track benefit plan performance
- Reduction of insurance rates and expenses with increased buying power resulting in over $300,000 in cost of benefits savings
- Enhancement of benefit plan offerings that provide employees with choices
- Benefits program that aligns and supports the corporate culture
- Monthly financial reporting on benefits performance
We have a unique position in the international risk management and employee benefits marketplace. It gives us the ability and resources to help you globally. To learn more, please contact our office at 1-800-661-1518 to speak with an international advantage team member.