Group Benefit Programs
Employee Benefits represent a significant financial obligation to the employer. A benefit plan is not a one size fits all solution. Our goal is to provide our clients with access to a wide range of benefit options which will meet their specific situation while helping to manage rising costs and continued de-listing of Government services.
As part of our services we include;
- Benefit needs analysis
- Plan design solutions
- Plan implementation meeting
- Administrative support
- Claims resolution support
- Renewal rate analysis
- Cost containment solutions
- Plan Marketing
Our Employee Benefits products include;
- Complete Employee Benefits and Pension Programs
- Group Life Products
- Group Critical Illness Products
- Healthcare Benefits
- Dental Benefits
- Short Disability Programs
- Long Term Disability planning
- Group Travel Insurance
- Group Home and Auto Programs
- Healthcare Spending Accounts (HSA)
- Group Pension and RSP Programs
- Employee educational meetings (one to one or as a group)
Certika currently manages benefit plans varying in size from a few members/employees to over 600 people. These include Construction Companies (small, mid-size and large firms), Non-Profit Organizations, Daycare Franchises, Embassies, Health Units, Accountants, Lawyers, Property Management Companies, Consultants, Electrical Contractors, Transportation Carriers, Restaurants, Radio Stations, High Tech firms and Large Truck and Automobile Dealerships.
Certika is a licensed broker for the Canadian Automobile Dealers Association (CADA)
With over 100 years of combined experience, including over 50 years of working directly within the insurance industry itself, Certika Financial Group Ltd. (formerly Crain & Schooley Financial) has the unique ability to deal with the insurance marketplace from a position of strength to ensure they continue to deliver the goods and services that you and your employees are entitled to.
At Certika Financial we are large enough to know the industry and suppliers very well, yet small enough to provide the personalized service and expertise that employers demand and their employees deserve. We are confident that the trust you place in us will be well rewarded.
Our objective is to provide professional and innovative consulting advice to organizations that provide a broad range of benefit plans to their employees, members, associates or other interests.
We will provide an annual financial review, detailed renewal report and all other supporting claims and experience reports that are fundamental in managing your plan. We understand that it is critical to review all aspects of a benefit plan on an ongoing basis, with a formal structured annual analysis at renewal. Our reporting will include recommendations for changes, if necessary and discussions concerning any associated re-alignment of premiums.
The needs of plan participants are constantly changing. Plans designed five, or even three years ago are not necessarily appropriate or cost effective. It is necessary to look at claims utilization, member perceptions and income replacement levels to ensure that not only are the benefits adequate, but that they are being used properly by the plan participants (not abused) and that the perception of the benefits by each participant is positive. If certain aspects of the plan are not being utilized, the plan may not be meeting its intended objectives and may not be attractive to members.
We conduct annual financial rate reviews to ensure:
- The funding methods meet the needs of the plan
- Financial stability
- Desired risk sharing
- Proper accountability
- Rates are set at a level that ensures that no excess margins exist and that the rates are sufficient to cover the expected claims costs, and
- Retention costs (insurance company costs) are competitive.
Often negotiations are required with an underwriter to ensure that the above are achieved and that the on-gong financial viability of the plan is assured. We are “client focused” but we have achieved the balance between strongly responding to the policyholder’s needs and attaining the respect and commitment of the insurance industry as a whole. We have unfettered access to every group insurance underwriter in Canada and a number of international insurers as well.
Certika Financial Group Ltd. has the in-house expertise and capacity to analyze all the financial aspects of all types of plans and to assess appropriate rate structures.
On-going communication is a key aspect of insurance program management. Understanding your needs, solving any problems that may arise, communicating solutions to staff and management is an essential part of our role. We ensure easy access to our Insurance team to provide advice or to solve problems quickly.
With any group or association plan, success is largely based on the contact between the plan participants, the plan sponsor and the consultant. We can provide written material for announcements to members or employees and attend meetings, as needed.
Service and Support
The Certika philosophy with regards to service and support is simple – we want to be the one you come to with questions, concerns or specific problems. We will provide policy and booklet reviews and advocate on your behalf with insurance companies if coverage is being disputed. With our experienced staff and our excellent relationship with insurance providers, we will be able to assist you in resolving member coverage or plan issues in a timely manner.
We are well versed in the concepts of financial and premium modeling, as well as the effective use of plan design changes, co-insurance, deductibles and alternative underwriting criteria. Options for plan design alternatives are available at any time at no cost to you. The presentation of these options will help you understand how to maintain control over your group plan.
We have proven experience in assisting clients to successfully market a full suite of insurance products to their employees or membership. Should a market survey of your plan ever be required, we will tailor specifications to meet your needs and objectives. Benchmarking plans against competitive offerings from other insurers is part of our usual client service to show an “apples to apples” comparison of the coverage offered.