Download Vebnet case study for Swiss Re

VEBNET working in partnership with SWISS RE
ABOUT VEBNET
INTRODUCTION
Vebnet is a leading provider of
technology and managed services for
total reward and flexible employeefocused benefits programmes,
to the world’s most respected and
progressive employers.
Swiss Re, the world’s leading and
most diversified global reinsurer,
wanted to offer 800 UK employees
flexible benefits. Vebnet was brought
in to harmonise employee terms and
conditions and remuneration after its
acquisition of GE Insurance Solutions.
The flex package was designed to
meet two important goals:
We work in partnership with our
clients to design, deliver, and manage
flexible solutions that consistently
demonstrate creative thinking,
innovative technology and
service excellence.
Our services span benefits scheme
design, communications and
employee engagement to help desk
and outsourced administration.
Vebnet’s integrated, most
widely-used reward portal –
FIX&FLEX®, brings together all
elements of a company’s reward and
benefit scheme with a common brand
and message.
1. Ensure employees remain
equally positive about benefits
after the harmonisation.
2. Help the company appeal to
more diverse skill sets beyond
the narrow reinsurance market.
An important factor for Swiss Re was
to offer benefits that are highly
competitive within the financial
services market, where many of its
employees are recruited. Attracting
new skill sets enables the company to
be more diverse and look at new
service opportunities for clients.
AN INNOVATIVE
APPROACH
One of the chosen benefits was
Vebnet’s payroll-giving carbon offset
scheme, developed in conjunction
with PURE – the Clean Planet Trust,
where employees can directly support
the Kyoto Protocol, and support other
climate change initiatives.
Swiss Re is committed to taking a
leading role in the climate debate and
identified climate change as an
emerging risk over 20 years ago.
Swiss Re’s UK headquarters,
‘The Gherkin’, is London's first
environmentally sustainable building.
Employees were also the first to be able
to use the carbon footprint calculator in
Vebnet’s flexible benefits system to add
up their household carbon waste and
then decide how much they wish to
contribute each month.
“In late 2007, we
appointed Vebnet to
help us harmonise terms
and conditions across
Swiss Re and GE using
flex and total reward.
This implementation was
effective as of 1 August
(enrolment from late
June) with a 71 per cent
take-up. Vebnet have
exceeded all our
expectations. ”
PROJECT LEAD
Swiss Re
THE SUCCESS FACTOR
Operationally, Swiss Re’s
implementation has been a massive
success, reflected in the 71 percent
take-up rate.
Financially, flexible benefits schemes
are becoming increasingly costeffective and, as experienced by
Swiss Re, the savings on National
Insurance alone can easily fund the
costs from year one.
Swiss Re acknowledges that flex is
the key to maintaining a competitive
benefit strategy, understanding
take-up rates and provider choices,
and empowering employees to match
benefit selection to their lifestyles.
An exemplary benefits package
coupled with a comprehensive and
imaginative communications
programme, including a Flash
streaming video onto the intranet site,
contributed to the resounding success
of this launch.
Offices:
Edinburgh / London / Singapore
Edinburgh/London/Singapore/
Hong
Kong / Montréal / Boston
Hong Kong/Montreal/Boston
T: +44 (0)845 304 7142
+44 (0)845 304 7142
E:T:[email protected]
E: [email protected]
www.vebnet.com
www.vebnet.com
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