When was the last time you conducted an audit of your employee benefit schemes?
At Aon, we think it’s important to regularly review your benefits schemes to ensure they are fit-for-purpose, especially in the midst of COVID-19. But it doesn’t have to be time-consuming – we can provide a complimentary no obligation benefits audit. It will provide insight on any red flags that may need attention, and provide suggestions for where you could improve across all company benefits, from defined contribution pensions to life assurance and medical insurance, as well as communication and engagement.
Traditionally your annual review of your benefits focuses mainly on provider price. Our review and audit is much wider:
- support during COVID-19 – your provider’s stance and terms
- ensure your firm adheres to applicable legislation changes
- ensure benefits are fit for purpose
- identify potential cost savings – advisor and provider.
Businesses evolve, legislation changes and the external environment can rapidly move in unexpected ways – which is why your employee benefits schemes may not be as supportive as they once were. Perhaps your private medical insurance scheme treats mental illnesses differently to physical illnesses, or maybe your group income protection scheme has an incorrect cease age for cover and claims (potentially leaving you susceptible to liability). Or perhaps you just need some reassurances around your insurance cover in relation to COVID-19 pandemic.
This sponsored article is provided by Aon Employee Benefits.
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