Canada's small to medium-sized businesses get
a new option for employee group benefit plans - the first
new offering of its kind in decades
TORONTO, August 1, 2013 - Starting today, RBC Insurance
is offering small to medium-sized Canadian businesses a full
range of benefits for groups with as few as two employees.
The new Group Benefit Solutions product, which includes health
and dental insurance, delivers flexible coverage supported
by an intuitive and comprehensive online portal for plan administrators
and employees. It is designed to allow small businesses to
offer employees the same range of value-added benefit programs
that larger employers provide.
"There are more than one million small to medium-sized
businesses in Canada and our research indicates that as many
as 75 per cent lack group benefit plans," said John Carinci,
head, Group and Business Markets, RBC Insurance. "Of
those with plans, rising costs are a significant area of concern,
yet nearly half are unaware that their plans can be customized
to manage rising costs."
RBC Insurance's Group Benefits Solutions specifically address
the needs of small and medium-sized businesses by allowing
those business owners to offer benefit plans that are flexible
and comprehensive, all with the added convenience of partnering
with one carrier for all benefits. The Group Benefit Solutions
- Unique disability insurance features, including options
for spousal coverage and coverage allowing partly disabled
employees to continue working in a reduced capacity while
still qualifying for disability benefits;
- One system with real-time processing and integrated service
for health and dental that maximizes accuracy, streamlines
fraud management, and accelerates plan set up, enrolment
and claims payments;
- A "rules-based" plan administration system that
allows clients to customize plans to their business' needs;
- Superior client service with simpler processes, fast turnaround
times and increased local support;
- Robust employee support, including a work-life employee
assistance program and enhanced 'Best Doctors' coverage,
allowing plan members to access the best medical minds in
- Unique and customized tools for both advisors and clients,
including economic data and forecasts, industry trends and
human resources support for small businesses, all at no
"RBC Insurance is offering a much-needed, leading-edge
new product and that is welcome news for small and medium-sized
business owners in Canada," said Paul Crossdale, consultant
with Morrow, Crossdale & Associates Inc. "When we
are advising clients on what to look for in their employee
benefit program, the top items include administrative support,
a member portal, easy renewal strategy, responsive customer
service, clear pricing model and reputability. RBC Insurance's
new product meets all this criteria and more."
About RBC Insurance
RBC Insurance®, through its operating entities, provides
a wide range of travel, life, health, home, auto, wealth and
reinsurance products and solutions, as well as creditor and
business insurance services, to individual and group clients.
RBC Insurance has more than four million clients globally.
We are one of the largest Canadian bank-owned group of insurance
companies and among the fastest-growing insurance organizations
in the country. RBC Insurance employs more than 3,200 employees
around the globe, and is the brand name for the insurance
operating entities of Royal Bank of Canada.
For more information, please visit: www.rbcinsurance.com/groupbenefits.
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