Pan African Employee Benefits

Multinational corporations constantly confront new challenges as they seek to globalise and expand, particularly with respect to how they support an increasingly diverse and internationally mobile workforce.

Historically, many multinationals operated in a decentralised management model. This, however, is changing as several market forces converge and force companies to act. These include:

Increasing need for corporate governance

Focus on operational and cost efficiency

Rationalisation of objectives

Converging international accounting standards

Governments shifting responsibility to private sector

Today, we see companies taking a much more active role in managing global issues. This is particularly true with employee benefits across Africa where the company may face significant financial, legal and human capital risks. People are any organization's most valuable asset and employee benefits play a major role in “attracting and retaining” the desired calibre workforces.

Our services

We have organised a systematic way of supporting multinational organisation's in their Pan African benefit efforts. We believe that a successful program includes:

Strategic planning which embraces local realities, cultural differences and competitive norms
Global benefits management that integrates with the global business and overall risk strategies
Systems that allow global, real-time access to data so that global decisions can be made to meet market demands
Flexibility to manage human capital
Global expense management to drive operational efficiency

Our Global Benefits Africa (GBA) platform addresses these and other global benefits objectives through three core elements:

Evaluate existing arrangements e.g. current benefit design, underwriting, experience, incidence, funding options and long-term stability
Benefits benchmarking against statutory requirements and market norms
Provision of benefits information to HQ through our Greater Insight global benefits platform

Serving as the local broker/consultant to subsidiary management
Organising a structured and disciplined approach and process with distinct client service tools and protocols in a manner that is well understood and accepted by HQ and subsidiary management alike

Maintaining records on Greater Insight
Providing information for stewardships report
Holding regular meetings with relevant HR on issues, the company’s ongoing requirements, assisting with facilitating the duties of the relevant HR person
Providing market and legislation updates which may have an impact on these policies
Providing high-level information on claims vs premiums ahead of each renewal

General Enquiry about My Business Solutions

Risk & Innovation

Five Risk Trends Affecting SMMEs

The world certainly looks very different a year later, and nowhere is it more apparent than in the Small, Medium and Micro Enterprises (SMME) space. The sector has faced more than its fair share of obstacles during the COVID-19 pandemic amidst a contracting economy and lockdown measures that reduced income streams to a trickle.

Flooding on the Cards

With above normal rainfall[1] predicted for South Africa until April, flooding could be a reality for many South Africans in 2021. In Aon’s Weather, Climate and Catastrophe 2020 Report, flooding was identified as the second largest peril across the globe, following tropical cyclones, with a devastating cumulative economic loss of $1,191bn (R17,674bn). What is even more concerning is the fact that only 17% of losses were insured.