The Situation
The executive team at a national moving company with agents in all provinces wanted to facilitate the formation of a buying group for its agents to secure benefits. In the past, this had been tried and failed, and GPS was brought in to make it happen.
The Solution
GPS carried out a survey with the key stakeholders in the company to understand the level of readiness to implement a national buying group – of the 92% that responded, an overwhelming 90% were in favour of the program. From there, a steering committee was set up to choose products, services, and ultimately the suppliers.
Because of the non-traditional make up of the group, the benefits industry was not used to handling the unique characteristics of the client and GPS was in the position of having to sell the program to the insurers. Due to the in-depth research and projections that GPS prepared, suppliers were willing to quote and offered favourable pricing and plan design for this association.
The Results
In existence for three years so far, the program continues to grow as the results prove success for the client.
- On average, members save 10-12% in benefit costs each year compared to what they could individually buy in the market place
- Members enjoy critical illness insurance, pension planning, succession planning, and other programs for fees that would not otherwise be available to owner/operator members
- Additional products and services have been introduced to the members with preferred costs
