Spreading global benefits risk to minimise costs
Employers with a multinational presence can often leverage their global purchasing power to save money on their international benefits bill.
They do this by spreading their risk across a pool of global insurers rather than just using one provider. As well as offering lower initial premiums, a multinational pool scheme can repay additional dividends if it performs well in terms of claims history.
With a presence in more than 140 countries, in-depth knowledge of the global benefits landscape and strong relationships with the world’s leading multinational insurers, we can advise on the most effective ways of managing risk and cost.
Our experts can counsel on how to maximise savings by navigating the risk factors appropriately, for example, by only pooling schemes of similar headcount and risk profile to avoid one large claim in a small workforce having a disproportionately negative impact on a larger one.
Willis Towers Watson’s multinational pooling network matrix shows a detailed listing of the eight key multinational pooling networks, together with their affiliated insurers, offshore capabilities and poolable coverages (life, accident, disability, medical and pension).
Find out more here.