AEGIS Managing Agency needed to stand out as an employer of choice in the narrow and competitive professional syndicate employment market. We helped it achieve that by modernising the delivery of its employee benefits.
Lloyd's of London syndicate
Part of a long-established mutual insurance business
Employs over 200 staff
The business comprised a wide demographic of employees but offered only a small choice of core benefits – an issue highlighted by new staff coming in with higher expectations of benefit delivery through a platform.
The benefits offering also appeared disjointed, making it difficult to explain them, engage employees, and optimise return on spend. A centralised and streamlined delivery would be more cost-effective, sustainable, and help reduce the administrative burden.
The first step was to hold detailed conversations to gain a thorough understanding of the original benefits approach and establish the company’s goals. We then undertook a market review of different solutions and helped AEGIS get a clear understanding of its options.
We used our experience and market knowledge to advise on, configure, and deliver a new flexible benefit digital platform – including effective member communications.
A more diverse and modern package was delivered within budget requirements. We also achieved market savings through a combination of consulting on benefit structure and market negotiations.
The centralised approach delivered a single focal point for both HR and employees, and was able to host new flexible benefits and enhance employee engagement. Following implementation, take up was higher than expected, helped by the quality of the communications and how easy employees found it to interact with the platform.
We continue to support AEGIS with the ongoing delivery and development of its benefit proposition.
“The process was very well project managed. The overall delivery costs met our budget and were the most competitive, so most definitely a great fit. The combination of an agile and intuitive platform, with direct support from Grant Thornton, made the whole implementation and delivery smooth and very easy.”
Owen Lewis, Reward Specialist, AEGIS Managing Agency
Our employee benefits team helps you optimise your benefit spend by ensuring the structure of benefits enhances your reputation as an employer of choice, rewards your employees efficiently, and maximises member engagement. Employers spend considerable funds on the pension scheme and benefits, so maximising returns in the competition for talent is an essential element for all businesses.
