Soaring healthcare costs. Regulatory change. Shifting employee expectations.
As a multinational organization, you know these challenges all too well. So does WTW.
From controlling costs to staying compliant with changing regulations, we use data, technology, deep experience and our global strength to help organizations manage their benefits programs across countries.
We bring HR teams the governance, visibility, cost and risk management options that make the difference.
How?
Because we match your global scale to our global network of benefits experts. We harness the data that brings insights. And we have technology in place to increase efficiency and information flow as you need.
We can help you truly manage your global benefits program.
What does global benefits management success look like?
It starts with your global benefit needs and business goals. Recognizing that each client is unique, we build success by partnering to:
- Develop a benefits program that is globally consistent but locally relevant. We’ll ensure that your benefits comply with regulations, incorporate market benchmarks and align with yours and your employees’ needs.
- Save 15% to 20% of your premium spending through sustainable cost management strategies and benefits-financing tools such as pooling, captives and other insurance mechanisms. We’ll use claims analytics to identify the claims utilization trends that will improve employee health outcomes and provide sustainable strategies for long-term cost containment.
- Create a consistent employee experience with mobile-first communications that help employees understand and use their benefits as intended and appreciate the investment you are making in their health and wellbeing.
- Establish a strong governance and operating model, saving resources, time and money. We act as an extension of your team to help you execute on your strategy consistently around the world. We’ll give you timely reports on progress and ideas for overcoming any roadblocks.
- Use analytics to drive decisions. Everything we do is based on data and powered by technology — especially market benchmarks – to help you anticipate issues and confidently move forward.
Our approach to global benefits management
Over the past few years, we have transformed the benefits industry through our exceptional capabilities, establishing ourselves as the leading strategic global benefits broker and consultant. We’ve done this by:
- Introducing the concept of the consulting broker: We ground our work in two things – a deep understanding of the benefits marketplace, and our client’s goals. We partner, advise and broker, with the capacity to cover your footprint not just your HQ’s.
- Reshaping strategic partnerships with insurers to your advantage: Our strong relationships with insurance carriers worldwide support open negotiations and improved employee benefits. For example:
- We were the first in the industry to train insurers worldwide to report on medical claims using the World Health Organization’s International Classification of Diseases (ICD) framework. This approach identifies long-term causes of medical issues and finds targeted and sustainable ways to manage them better.
- We’ve partnered with carriers to create programs that provide employee flexibility so they can live and work anywhere.
- Focusing on the employee experience: To help employees and their families focus on meeting their personal aspirations, we design benefits with the person at the center, and then deliver clear communications so they easily understand, access and value the programs.
- Connecting benefits to total rewards: Benefits are just one element of a total rewards program. We support our global benefits management clients with a holistic approach to the range of total rewards (e.g., retirement, wellbeing, voluntary benefits) while leveraging our infrastructure to execute.
- Creating innovative financing techniques: As the leading employee benefits captive consultant in the world, we have a history of introducing pioneering ideas. This began with supporting the first-ever captive to manage employee benefits risk. We also invented the use of captives for U.S. benefit risk, retiree medical risk and pension risk. We think of everyday as an opportunity to create breakthroughs that matter.
Winning and keeping clients
It might be easy to win clients, but it’s hard to retain them. So we’re proud to hold a track record of retaining more than 97% our of GBM clients. We believe part of the reason is our WTW DNA of being authentic, bold, curious, and organizing ourselves around client needs. Take a moment to hear our clients describe what sets WTW apart.
We’d be delighted to share more with you. Contact us.
