Aon Choice enables organizations to offer employees more choice and control of benefits
Toronto, ON (Mar. 22, 2016) – Aon plc, the leading global provider of risk management and human resource consulting and outsourcing, has announced the release of Aon Choice, a first-of-its-kind total rewards delivery system that enables small- and medium-sized companies in Canada to compete with benefit packages offered at larger corporations.
“We’ve been listening closely to Canadian employers of all sizes to better understand their challenges and opportunities and found limited benefit options mean many smaller companies struggle to attract and retain engaged employees,” said Christine Lithgow, president and CEO, Aon Risk Solutions Canada. “Aon Choice will help small business owners in Canada compete and win in the campaign for talent. Employers can now offer flexible benefit plans, giving employees increased transparency and the ability to choose the level of coverage that’s right for them and their families.”
According to the 2015 Sanofi Canada Healthcare Survey, 64 percent of employees would opt for a flex plan if they could, despite the fact that 77 percent currently have a traditional plan. Emphasizing choice, 91% of employees also said they would like to choose benefits that are best suited for their current personal situation. With four different generations now in the workforce, each with specific benefit needs and wants, the one-size-fits-all approach to plan design is showing a gap in value for both employers and employees.
A better benefits solution for employers and employees alike
Aon Choice removes the barriers to offer a flexible benefit solution normally available to large corporations. Through Aon Choice’s integrated online portal, employees and their families in Canada can choose health and retirement plans from multiple options offered by their employer as well as access deals on home, auto, pet and travel insurance, and legal expense insurance.
Employees will also have more transparency over their employer’s total rewards investment through easy-to-understand online rewards statements. Employees will see their compensation and contributions made by their employer toward their benefits and retirement savings plans as well as any other rewards or incentives offered to them by their employer.
“Aon pioneered flexible benefit plans in Canada and we are leveraging this expertise to help small businesses. We know benefit administration and communication can be a burden for small and mid-sized companies,” said Brian Rennie, senior vice president, Health and Benefits, Aon Risk Solutions. “With our innovative technology and expert team, we’re committed to making it easier for them with Aon Choice.”
Underwritten by Desjardins Insurance, the insurance arm of the top co-operative financial group in Canada, Aon Choice offers employers the best financial terms in the market, along with the convenience and ease of administration through Aon’s industry-leading technology and expertise in benefits consulting and administration. Companies can choose to offer traditional or flexible group benefit plans, and they can control their benefits spend through a defined contribution approach. For retirement plans, employers can choose between group Registered Retirement Savings Plans or defined contribution pensions. Aon’s benefits experts guide employers every step of the way, and handle plan administration and employee communication once the plan is set up.
For more information, visit choice.aon.ca.
Aon plc (NYSE:AON) is a leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information.