How we work for you
At Theys Benefits, we are independant brokers who work on your behalf to find, implement, and manage the best possible employee benefits plan for your company. Unlike an insurance agent who represents one insurance company, a broker has access to the entire market and leverages their expertise to serve your best interests.
The group benefits process is a multi-stage cycle that begins with identifying an organization’s needs and ends with ongoing administration and annual renewal.
1. Plan assessment and strategy
- Initial consultation: We begin by understanding your company's unique needs, budget, employee demographics, and overall business goals.
- Market analysis: We evaluate industry trends and benchmark your current plan against those of similar companies to ensure you remain competitive.
- Custom plan design: We help you craft a plan that balances cost-effectiveness with a comprehensive suite of benefits that attracts and retains top talent.
2. Market analysis and procurement
- Negotiate with carriers: We shop your plan to the entire Canadian group benefits market, not just one insurer. Our relationships with providers allow us to negotiate favorable terms and competitive rates on your behalf.
- Compare options: We present you with a clear, side-by-side comparison of different quotes, highlighting the pros and cons of each option.
- Leverage market access: Some reputable insurance companies only deal through brokers, which gives you access to options and savings you might miss out on otherwise.
3. Implementation and enrollment
- Simplified onboarding: We manage the administrative process of implementing a new plan, from paperwork to setting up online portals.
- Employee communication: We provide communications and educational sessions for your employees to help them understand their new benefits and how to use them. This maximizes the value of your benefits investment and boosts employee satisfaction.
4. Ongoing service and support
- Administrative support: We act as an extension of your HR team, assisting with year-round plan administration, including enrollment, terminations, and changes.
- Direct employee support: Employees can contact us directly with questions or issues, acting as an additional layer of customer service and freeing up your internal resources.
- Claims advocacy: In the event of a claims dispute or an unexpected denial, we act as your advocate, pushing back on the insurance company to ensure a fair outcome.
- Renewal negotiation: We continuously monitor your plan's performance and analyze claims data. At renewal time, we negotiate with the insurer for the best possible rates and terms to keep your plan healthy and sustainable long-term.
5. Added value and expertise
- Cost containment strategies: We offer ongoing consultation on cost-management practices, such as adjustments to plan design or leveraging wellness programs to prevent long-term costs from spiraling.
- Strategic advisory: As your trusted advisors, we provide strategic insights and data analytics to help you make informed decisions that align with your company's overall financial and HR strategy.
- Access to technology: We can help you leverage modern technology and online portals to streamline benefits management for both your company and your employees.