Enhanced global coordination.
Marked by its passion for innovative solutions, GEB was the first Network to develop a brand new funding method for international employee benefit plans.
This unique approach called Global Underwriting Programme (GUP) is ideal for clients that have outgrown the traditional pooling concept but are not quite ready to implement a captive programme.
Its success as an innovative financing solution is predicated on a number of key elements including commitment to a long term partnership (minimum of 3 years), commitment and strong control on the client’s side combined with technical expertise & pricing flexibility from the insurer. Where pooling offers an opportunity to optimise the financial and information flow of international employee benefit plans on a retroactive basis, GUP allows for a proactive funding strategy. This encompasses not only upfront pricing optimisation across the entire programme but also enhanced terms & conditions negotiated centrally.
With several years of experience already under its belt, GEB is eager to continue working with clients to reshape the international employee benefits market. Here is a brief recap of the key elements for the successful roll out of a GUP strategy:
- Premium optimisation through technically sustainable upfront discounts
- Extended rate guarantees
- Improved terms & conditions
- Enhanced governance both locally and centrally
- Proactive global programme management at the initial quotation and renewal stages
Beyond its leadership in providing mainstream employee benefit programmes (pooling and captives), GEB has the experience and global reach to support clients looking for new and innovative ways to manage increasingly complex benefits in a cost sensitive market environment.
There are no implementation costs to set up a Global Underwriting Programme.