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Kenya

Employee benefit schemes to cost less in EA

NAIROBI, Kenya Jul 13 – Multinational companies operating in East Africa are set to benefit from reduced costs of employee benefit schemes following the introduction of consolidated insurance services.

Insurance brokerage firm Aon Minet has introduced a new division, Aon Consulting, to offer integrated human capital consultancy services to its clients.

Speaking during the launch, AON Consulting General Manager Sammy Muthui said the new business arm would assist companies with the necessary interface that enables them streamline insurance solutions for employees even as they seek to expand into the region.

“The whole concept of employee benefits one-stop solutions is informed by the way integration has been going on for a long time and how companies are looking to move their talent base to new branches in the region,” Mr Muthui said.

The consolidated approach makes it possible for companies to work out a single package for polices relating to employee benefits and enjoying the accruing benefits such as streamlined costs and improved service delivery.

“We are optimistic that our customers will have unmatched interface that enables them streamline their quest for insurance solutions,” Mr Muthui said.

Clients are expected to make up to 25 percent savings on insurance premiums and administrative costs translating into significant savings in an industry estimated to be worth Sh30 billion.

The firm’s mother company, Aon Corporation, recently announced a merger with one of the world’s leading HR consulting and outsourcing companies Hewitt Associates.

Mr Muthui explained that the merger would create a global leadership position in human capital solutions, with diverse product and service capabilities and associates to serve clients\’ evolving needs.

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“Aon has built a strong legacy anchored on delivering innovative practices and products that meet the constantly changing business landscape,” he said.
 

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