Client Background

Since 2011, a financial services company in Thailand has partnered with us to manage its group insurance plans, which include life, accident, disability and health coverage. With 30 affiliated firms, more than 1,000 branches and a workforce of 30,000, this client has undergone three phases of benefits modernization with our support.

Phase 1: Review of Self-Insured Health Plan 

Before the client collaborated with us, it operated its group health program under a self-insured arrangement. When reviewing the effectiveness of this setup, we identified that the cons far outweighed the pros in two key aspects. First, a small number of large medical claims can make annual healthcare spending difficult to forecast. Second, managing the program internally requires substantial administrative effort and resources.  

Phase 2: Migration to Fully Insured Health Plan 

In response, we helped the firm migrate its self-insured plan to a group insurance plan written by an insurer. The group plan provided comprehensive coverage for life, accident, disability and health. Yet, over the years, premiums increased significantly due to high outpatient utilization, prompting the client to explore other options.  

Phase 3: Implementation of Flexible Benefits Program 

With more than a third of employees showing interest in an alternative benefits plan, the HR team worked with us to design and implement a flexible benefits program. Employees were able to make more informed benefit selections based on their needs. For the corporation, this led to a more sustainable approach to cost management.

Successful Formula for Benefits Transformation 

Built on a foundation of trust and open communication, this 15-year partnership demonstrates how benefits programs must evolve in step with workforce expectations and organizational priorities. Through strategic planning and ongoing support, we successfully guided the client to transition through three phases of benefits transformation.