{"id":1518,"date":"2022-01-21T11:42:40","date_gmt":"2022-01-21T17:42:40","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=case_study&p=1518"},"modified":"2022-01-31T10:16:57","modified_gmt":"2022-01-31T16:16:57","slug":"benefits-plan-savings-for-international-company-with-acquisition-growth","status":"publish","type":"case_study","link":"https:\/\/www.bbrown.com\/uk\/case-study\/benefits-plan-savings-for-international-company-with-acquisition-growth\/","title":{"rendered":"Benefits Plan Savings for International Company with Acquisition Growth"},"content":{"rendered":"

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Case Study<\/p>\n

\n Benefits Plan Savings for International Company with Acquisition Growth\n <\/h1>\n\t\n <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ full_width=”stretch_row” equal_height=”yes” content_placement=”bottom”][vc_column width=”1\/4″][vc_single_image image=”791″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n
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\n The Request\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

Bring employees of an acquisition onto benefits plans with little impact to the employees or the business.<\/h3>\n

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Industry: <\/span><\/b>Technology Sector<\/span><\/p>\n

Employees: <\/span><\/b>500<\/span><\/p>\n

Location:<\/span><\/b> 15 Countries<\/span><\/p>\n

A current customer requested the International Benefits team assist in bringing employees of a recent acquisition onto its benefit plans. The customer wanted to maintain comparable benefit levels for the acquired employees while also minimizing cost impact to the business. As an added layer of complexity, the customer had locations in 15 countries, and the acquired company had locations in nine of those countries. The team needed to provide market level benefits across all locations while managing the overall integration process.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ full_width=”stretch_row” equal_height=”yes” content_placement=”bottom” css=”.vc_custom_1638896243466{background-color: #eaeaec !important;}”][vc_column width=”1\/4″][vc_single_image image=”794″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n

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\n The Solution\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

Conducted a data collection exercise and benchmarking exercise for all existing benefit plans.<\/h3>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=”pt-1″ full_width=”stretch_row” css=”.vc_custom_1638896256859{background-color: #eaeaec !important;}”][vc_column][vc_column_text]The International Benefits team worked with the customer to determine the benefit plan integration and broker transition timeline. This was decided based on the terms of the acquisition and annual renewal dates. Once the dates were established, the team conducted a data collection exercise for employees on the acquired company\u2019s benefit plan. After the data was collected, the team benchmarked the customer\u2019s existing benefits against the acquisition\u2019s benefits and local market practice.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ equal_height=”yes” content_placement=”bottom”][vc_column width=”1\/4″][vc_single_image image=”792″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n

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\n The Results\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

Achieved cost savings by leveraging larger group size.<\/h3>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=”pt-2″ equal_height=”yes” content_placement=”middle”][vc_column][vc_column_text]The customer was able to achieve cost savings of 10% across all locations by leveraging its larger group size due to the recent acquisition. The team successfully renegotiated renewals and\/or remarketed the benefit plans through access to additional insurance carriers. The customer successfully enhanced its administrative processes by reducing the number of insurance carriers and local brokers. The cost savings were used to enhance employee benefits in key markets.[\/vc_column_text][vc_single_image image=”1423″ img_size=”medium” onclick=”custom_link” img_link_target=”_blank” link=”https:\/\/www.bbrown.com\/wp-content\/uploads\/2022\/01\/Case-Study-Benefits-Plan-Savings-for-International-Company-Brown-Brown.pdf”][\/vc_column][\/vc_row][vc_row][vc_column]\n

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Ready to help minimize your risk and uncertainty?<\/p>\n

\n Contact us for more information.\n <\/h2>\n\t\n <\/div>\t
\n\t\t\t\t\t\n\t\t\t\tContact Us<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][\/vc_row][vc_row][vc_column][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]DISCLAIMER:<\/span>\u00a0<\/span>Brown & Brown, Inc. and all its affiliates, do not provide legal, regulatory or tax guidance, or advice. If legal advice counsel or representation is needed, the services of a legal professional should be sought. The information in this document is intended to provide a general overview of the topics and services contained herein. Brown & Brown, Inc. and all its affiliates, make no representation or warranty as to the accuracy or completeness of the document and undertakes no obligation to update or revise the document based upon new information or future changes.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

When facing an acquisition, a customer requested the Brown & Brown International Benefits team assist in bringing employees onto its benefits plan with little impact to employees or the business. 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