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Dec 14, 2023 127 likes •282 views

Employees Benefits 2018 Disclaimer This presentation has been designed for a broker audience with knowledge of financial products and nothing from it should be used with customers or as a sole basis for making decisions on selling products. The

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Employees Benefits

2018

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This presentation has been designed for a broker audience with knowledge of financial products and nothing from it should be used with customers or as a sole basis for making decisions on selling products. The presentation uses examples to demonstrate products, but these are for illustration purposes only, for actual customer illustrations please contact your Group Risk provider or Unum Representative. Terms and conditions apply to all Unum products highlighted in this presentation and they may differ from provider to provider and over time. Unum is not authorised to give advice. The material contained in this presentation applies only to Unum and its products. Whilst we have taken all reasonable steps to ensure that the information within this presentation is accurate and up-to-date, we cannot accept liability for any error or omissions. Unum Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Disclaimer

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Learning objectives

Understand what Employee Benefits are and the
pportunity available to SMEs
Understand how Employee Assistance Programmes work

and the support available to business owners

Recognise how market insight and local consultancy

support can tailor and segment your proposition

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What are Employee Benefits?

Income Protection Critical Illness Life Insurance Sick Pay Insurance Dental Insurance

Traditional Employee Benefits Additional employee benefits Solely funded by the employer, employee or a combination of the both Can provide access to insured protection cover either at a reduced rate or at no cost to the employee with cover under one ‘group’ policy

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How much are they valued?

40%

feel that their employer has a responsibility to help manage their wellbeing

45%

judge their employer based on the wellbeing package

n offer and that is

provided to them

65%

expect their employer to provide guidance on the employee benefits available to them

Source: Capita Employee Insight (2016)

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The opportunity for SMEs

12 million £2 billion 68%

employees covered

n employee benefits1

worth of in-force premium generated1

f schemes have

under 50 members1

Record breaking year

950,000

SME businesses based in the UK2

1. Swiss RE Group Watch Report (2017); 2. This Is Money (2016)

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Using your existing contacts

All employers but an emphasis on those with 3 – 50 employees

Target Market

Solutions that are applicable to your existing client base

Potential industries

Lawyers
Accountancy firms
Outsourced payroll firms

HR Capability

Employers with limited

r no HR functionality

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Mental health in the workplace

1 in 6 of the workforce

experience mental health problems1 And they contribute

£226 billion to the

UK economy (12.1%)2 But £25 billion is lost due to the cost of mental health on businesses2

1. Healthy Working Lives (2014); 2. Added Value: Mental health as a workplace asset (2016)

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The impact on employers

Absence due to sick days, long-term work related illness or

ccupational

injury Productivity and revenue loss for the business Legal action for failing to protect the physical or mental health of an employee while at work High staff turnover or decreased motivation / strained relation A culture of absenteeism or presenteeism (coming to work when not fit to do so)

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Employee Assistance Programmes

Set up and

marketing materials to launch the EAP

HR, Occupational

Health & Manager referral processes to help support sensitive cases

Manager and HR support

through confidential consultation prior to dealing with difficult workplace scenarios

Legal service -

telephone and

nline legal

advice and support*

Tailored for employers

*Exclusions apply. Please see the Unum LifeWorks page for further information

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Market Insight

Prioritised prospect lists, based on actual buying behaviours Demonstrates to clients the comparative cover

ffered in their

industry group Propensity to buy modelling Benchmarking Renewal planning, commission planning and benchmarking to other books Management on existing block

Application to support profitable growth for your company

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Consultancy support

3 dedicated Consultants and a Telesales team to support you and your business with: Joint client visits (to support your proposition) Analytical support through market insight Tailored and bespoke marketing materials

Hollie Clough

London, Midlands, East Anglia Hollie.Clough@Unum.co.uk 07785 415812

Adam Aldred

North of England, Scotland Adam.Aldred@Unum.co.uk 07795 348465

James Lawley

South of England, Wales James.Lawley@Unum.co.uk 07867 142863

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Summary of learning objectives

It’s been a record year for Employee Benefits and there is

a significant opportunity accessible for SMEs

Employee Assistance Programmes are available to

provide ongoing support to business owners

Market Insight is a unique tool and provides valuable

data to help you fully understand your client portfolio

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Thanks for your time

Specific questions Paradigm@unum.co.uk General Questions

Questions?

Your local consultant