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In a landmark move, IBM has redefined its retirement strategy, signaling a potential trend for corporate America. Our analysis reveals IBM’s pivot from traditional pension accruals to a novel approach, blending cash balance benefits with a pay increase and pay credit system. This shift, executed amid a climate of peak pension fund health, showcases IBM’s innovative use of surplus assets for future benefits. The new scheme phases out the

The European Insurance and Occupational Pensions Authority (EIOPA) in December 2022 published a report on cross-border Institutions for Occupational Retirement Provisions (IORPs), i.e. corporate pension plans, in the European Economic Area (EEA). According to EIOPA, the number of active cross-border IORPs fell from 33 in 2020 to 31 in 2021. Such plans cover approximately 93,000 members and beneficiaries and manage assets worth around €13bn, up from 70,000 members and

Zurich Global Employee Benefits Solutions (ZGEBS) in October 2022 announced that Sompo Himawari Life Insurance (SHL), the life insurance company of Sompo Holdings in Japan, joined the ZGEBS network. Alan Chua, Director, Customer & Distribution Management APAC, ZGEBS, commented that “[…] Zurich will now offer SHL’s “Insurhealth” solutions to Zurich’s multinational customers in Japan. […]”. The Insurhealth group product, by combining the original functions of insurance and healthcare, “provides

MAXIS Global Benefits Network (MAXIS GBN) in July 2022 announced a new partnership with Further Group, a global leader in the design and development of equitable and affordable health insurance solutions. Further will be offering its innovative Critical Advantage solution to MAXIS GBN’s multinational clients. By selecting to work with Further, multinationals will be able to offer their people treatment, outside of their home country, at medical centres of

MAXIS Global Benefits Network (MAXIS GBN) in June 2022 announced its partnership with HUMANOO, a Berlin, Germany-based provider of automated digital wellbeing solutions. MAXIS’ multinational clients will now be able to choose to work with HUMANOO and help improve the overall health, wellbeing and engagement of their people. According to the company, “HUMANOO’s app is designed to help improve employees’ physical and mental health with customised, on-demand fitness, physio,

MAXIS Global Benefits Network (MAXIS GBN) in May 2022 announced a new partnership with MindCo Health, a digital health company which specializes in virtual reality (VR) programs focused on mental health and smoking cessation. Based in San Jose, California, MindCo joins several other suppliers which make up MAXIS’ wellness technology marketplace. MAXIS GBN will offer multinationals and their employees MindCo’s MindCotine service, a VR-based smoking cessation programme. MindCotine helps

Global broker Gallagher and employee benefits management software provider Cobee in February 2022 announced a new partnership agreement. Founded in 2019, Cobee operates in Spain for companies such as Ogilvy, Group M, Booking, Avis, TripAdvisor or Glovo. In January 2021, it expanded its services to Portugal. Under the agreement, Cobee will offer bespoke brokerage and administration solutions in Iberia to Gallagher’s Multinational Benefits & HR Consulting (MBHRC) practice clients,

Global employee benefits network IGP in February 2022 announced the launch of a Center of Expertise (CoE) for Reinsurance to Captive and Global Underwriting Programs. The new CoE represents a departure from IGP’s long-standing focus on pooling. Alongside the more traditional multinational pooling programs, IGP has expanded its offer to Global Underwriting and Reinsurance to Captive programs and now introduces a re-designed operational workflow that facilitates their implementation either

International employee benefits network MAXIS Global Benefits Network (MAXIS GBN) in January 2021 announced it had selected ICAS World, a London, UK-based employee assistance programme (EAP) platform, as a global provider of counselling support and assistance. As part of the MAXIS Global Wellness solution, multinational clients will be able to choose to work with ICAS World, giving their employees access to counselling and work-life services including legal and financial

Generali Employee Benefits (GEB) and San-Francisco, California-based Sensely in December 2020 announced a strategic partnership to advance patient interactions through Artificial Intelligence and provide access to Virtual Health Assistants (digitized interactive ‘human-like’ characters or avatars) that respond to voice and onscreen commands through a multi-functional, cloud-based platform. This strategic partnership brings together GEB’s leading network capabilities in the corporate sector and local market knowledge in over 118 countries with

Swiss Re report advises employers reopening public spaces on reducing the risk of exposure to the COVID-19 virus.

Allowing for financial synergies (6/6) By choosing @GEB_Network for your international expat plan, you not only benefit from a best compliant, integrated solution that will meet the needs of your diverse employees – wherever in the world they are – but you also benefit from cost efficiencies. For example, a global Network built upon years of close partnership working and trust, allowing for a high degree of harmonisation of

Centralising plan set-up and information management (5/6) Your multinational organisation is complex. But your global mobile employee benefits plan needn’t be. The right solution will allow you to insure your locally-based employees alongside their expat colleagues, with bespoke plans and quality benefits. For the employer, we bring solutions that are compliant and cost-effective. Plus, everything in one place, including comprehensive reporting packages. For the employee, we bring a user-friendly

Aiming for a high degree of harmonisation of terms and benefits (4/6) There are pros and cons of harmonising your terms of employment. But we believe the advantages far outweigh the disadvantages, bringing you a global mobile employee benefits plan that is more: attractive; fair; compliant; efficient. And less administration heavy and hierarchical. Talk to @GEB_Network about our new and innovative Best Compliant Model: the next generation of international

Minimising non-admitted insurance (3/6) Every country is different. Just like every employee is different. And non-admitted insurance is no longer serving global mobile insurance needs with the same level of efficiency that it once did. To insure global risk in a way that is consistent, cost-effective and with non-admitted insurance minimised, you need a different solution. @GEB_Network’s Best Compliant Model provides that solution, within a single multinational policy or

Maximising admitted coverages (2/6) Are you looking for one global mobile employee benefits solution that is in line with the requirements of each region in which your organisation is present? Do you want to simplify the administration of the benefits you offer globally, or across as many regions as possible? Do you want to reduce the reliance on non-admitted solutions? Look no further. @GEB_Network’s new Best Compliant Model has

Providing one integrated solution across geographies (1/6) Achieving a globally mobile employee benefits solution that is integrated and compliant, yet user-friendly, member-experience focused and cost-effective gets ever harder to achieve. At the same time, it’s a necessity in #employee attraction and retention. Fortunately, there is a way, in the shape of @GEB_Network ’s new and innovative Best Compliant Model. #employeebenefits

There is no doubt about it, Global mobility is complex, however with the right help and support, mobile benefit plans do not need to be. Pasquale Gorrasi, Director – International Lines, GEB, talks about why the GEB Network’s new and innovative ‘Best Compliant Model’ offers the benefits consistency that Mobility Managers need.

Willis Towers Watson’s International Pension Plan Survey Report 2019 was released at the end of January, 2020. The annual report summarises the results of their survey, which includes 932 international pension and savings plans (IPPs and ISPs) sponsored by 877 companies. In particular, the survey revealed that Assets Under Management (AUM) rose to €14.6bn (USD 15.8bn) from €13.6bn (USD 14.7bn), with the largest concentration sponsoring IPPs/ISPs from the banking

The French Prudential Supervision and Resolution Authority (ACPR) in January 2020 approved a reinsurance captive in France for payment solutions provider Worldline. The approval marks the first in almost 20 years, and only the fourth reinsurance captive in France. Worldline chose France as a jurisdiction based on the advice of Willis Towers Watson (WTW), which supported Worldline throughout all aspects of the process, from the initial opportunity study to

With the implementation of the EU’s IORP II Directive, Aon in December 2019 announced it would stop offering its United Pensions solution for cross border pension solutions. Aon Retirement and Investment, Netherlands, CEO, Frank Driessen, explained that while existing Dutch United Pension clients will not be affected, there is a great deal of uncertainty and mistrust around cross-border pension transfers. What has been a thorn in the side of

MAXIS Global Benefits Network (MAXIS GBN) in December 2019 announced it had chosen CareClix as its global partner for telemedicine services. CareClix is a leading telemedicine solutions provider headquartered in Alexandria, Virginia, USA and focused on technology-driven medical services to employers, governments, health plans and health systems. Beefing up the MAXIS Global Wellness Solution The partnership will allow MAXIS GBN’s clients, as a part of its MAXIS’ Global Wellness

Ping An Good Doctor Develops Commercial Operation of One-Minute-Clinics in China Ping An Good Doctor (PAGD), China’s largest online healthcare services provider and a spin-off of Chinese insurer Ping An, in 2019 expanded its AI-based “One-Minute Clinics” across eight Chinese provinces and cities. One-Minute Clinics are small rooms where patients enter to connect with a virtual doctor (the “AI Doctor”) which in a few minutes offers a preliminary diagnosis

Generali UK’s new service aims to fill gap in mental health care for employees Generali UK in October 2019 announced it has added a mental health navigator service to its current group income protection (GIP) policy. Available at no extra cost, the Best Doctors Mental Health Navigator from Teladoc Health offers expert assessment and signposting to services by mental health clinicians. This aims to reduce pressure on line managers

MAXIS Global Benefits Network (MAXIS GBN) in October 2019 launched its Wellness Intelligence Tool (WIT), a digital service that helps organizations estimate potential medical cost savings resulting from changes in employee behaviors and lifestyles. The tool helps organizations quantify the impact that behavior change could have on the health and productivity of employees. The tool was developed by MAXIS GBN in partnership with actuarial consultancy Habits at Work. Integrated

Aon in October 2019 announced it has developed services to fill gaps identified in the UK’s Mental Health First Aid (MHFA) provision. Mental Health First Aid courses are commonplace in workplaces throughout the UK, yet research from the Institution of Occupational Safety and Health (IOSH) highlights serious pitfalls for employers who wish to implement MHFA without a wider strategy or who do not take the care of the MH

MAXIS Global Benefits Network (MAXIS GBN) in October 2019 announced that its OneClient service now provides access to a new suite of interactive dashboards and web applications to help multinationals identify employee benefits spending and healthcare priorities that aid decision-making and cost management. One of the key new features of the OneClient portal is an interactive pooling dashboard that allows multinational pooling clients to better understand their pool performance