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How to Buy a Group Insurance Benefits Program

Buying a group insurance plan for your employees can be a difficult task when you’re not familiar with the insurance industry and how things work. The following is a short summary of the three key steps to consider in this process.

Step 1 – Identify what you want.

Is it the first time you are offering benefits? If so, what type of benefits do you want? Advice on how to design your program will be key. Learning from the mistakes of others who have had plans in place will be your advantage. Are you offering benefits to attract employees or keep them? Whatever the reason, there are specific group products that will meet that fine balance of being valued by employees and reducing financial burden. Finding the right fit for your employees and your company within your industry can be difficult, but with the right expert it can be done.

If you have a plan in place and are looking for a new Group Insurance Benefits Program, determining what you want is key. What is motivating you to search? Are you offering a package that you can no longer afford? How do you turn a plan into a valued package that is sustainable in the long term? Creative solutions will be key to achieving this fine balance and it is doable through analysis and solution diagnosis. An expert can quantify your wants and needs and create the action plan.

Step 2 – Understand the wants and needs of your plan to refocus which components of your plan are negotiable.

Whether it’s a union contract, corporate culture or employee perception, understanding what you can and can’t do will help you determine which options you can consider. The following are questions to consider.

Step 3 – Choose a trusted advisor/broker.

We listed this as Step 3 because of the other items that should be considered first, but realistically this is Step 1, as this partner has the potential to make quite an impact on your costs, employee perceptions and overall corporate culture.

Make the decision early in your process to choose a broker, one broker, you can trust. A broker who will place your organization’s goals and interests first! Insurance carriers will respond more positively and competitively to one broker as they underwrite your company and the broker. Choosing one broker early in the marketing process will ensure that the carriers put their best foot forward at quote time.

Ensure your broker walks the talk. Is the job getting done? What is the job?

We wish you the best in your search for benefits. Should you have any questions or would like to know more about what Business Insurance Services has to offer, call (905)777-9990 x202 or email

Our Expertise is your advantage

Whether it’s Group Insurance or Retirement Programs or Individual Insurance, we make it our business to understand our clients’ needs and are dedicated to delivering the best solutions. We act and feel like an extension of your organization.

Let BIS make a difference.

"...They helped us hit the ground running. BIS has excellent contacts with our Canadian providers and is a reliable partner when complicated issues arise. They are an invaluable go-between at those times to help us come to solution."

Linda C.
Automotive Industry


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231 Main Street West, Main Floor
Hamilton, ON
L8P 1J4
Phone: (905) 777-9990