The group risk market must modernise or miss out in the 21st century. John Ritchie outlines the pitfalls ahead
At heart, the group risk industry does something very worthwhile, providing invaluable financial assistance to thousands of employees and their families who suffer illness, disability and loss. Group risk cover has generally been adopted by employers as a core part of their staff benefits package, and its significance will only grow as State spending – not least on benefits – is cut. But, in spite of all this, the sort of headlines group risk tends to attract are nearly all negative. Its reputation is made up of an unimpressive mix of poor service, slow and inaccurate quotes and a dis...
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