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A group of co-workers having a candid discussion in a cafe

Lower Costs, Same Benefits

Adopting a flexible benefits programme to save costs, without reducing benefits offered

Problem

  • Stagnant benefits

  • Premium increase of 33% (S$360K)

  • Passive intermediary

Banking

Industry

600

Employees

S$1.1M

Premiums

Solution

  • Change of insurer from Aviva to AIA

  • Implemented flexible benefits

  • Increased employee engagement through content creation

  • Introduced health kiosk/wellness programme

Impact

  • Reduced benefit spend by S$90K with no reduction in benefits

S$90K

Savings

20%

Increase in employee satisfaction scores

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