The solution
The client partnered with us to help make their lives easier by simplifying and driving efficiency in their group life assurance plan. Following a detailed review, we restructured the plan and the associated employer’s, before then working with the company to transition the scheme into the insurer’s Master Trust.
Our process started by understanding the client’s needs and goals:
- Conducting a detailed review of entity structures, benefit variations and administration processes to understand the source of delays
- Restructuring the plan and associated employer records to create clear, consistent data for the insurer to validate claims
- Working with the employer to transition the entire scheme into the insurer’s Master Trust, removing the need for internal trustees and creating a more robust governance model
The results
For their business
Reduced governance and regulatory risk
Transitioned from an employer-operated trust to a professionally managed Master Trust, significantly reducing legal and administrative exposure.
Simplified administration across entities
Standardised processes across all entities, making it easier for the insurer to confirm benefit levels and eligibility.
Removal of trustee responsibilities
Eliminated the need for the organisation to appoint trustees or manage complex regulatory obligations internally.
For their people
Faster claims assessment and payment
Improved documentation and consistent processes enable claims to be assessed and paid more quickly.
Improved outcomes for beneficiaries
Bereaved families and beneficiaries receive decisions and payments faster under a robust, independently governed trustee structure.
Greater reassurance and security
Employees gain confidence knowing their life assurance is managed within a secure, compliant framework.