The last time I checked, we’re up to 22 Canadian insurance companies that provide employee benefits coverage. Keep in mind that Blue Cross operates 6 (yes, SIX) different companies across the country (Pacific Blue Cross, Medavie Blue Cross, Alberta Blue Cross, Manitoba Blue Cross, Blue Cross Life, and Saskatchewan Blue Cross). So, really, that list is closer to 16.
And, each of the carriers, to their credit, are trying different approaches, so that they stand out from the crowd. For example, last year we saw a number of insurance companies lower their extended health care trend rates:
http://canadianemployeebenefitplans.ca/reducing-trend-factors-for-ehc
Now, a carrier believes so strongly in their customer service, they are willing to back that up, and as the saying goes, “put their money where their mouth is”. On Friday, Sun Life announced that they are introducing a service guarantee. Each year, they will ask a each of their clients how Sun Life has done over the past year. If the client isn’t happy, Sun Life will compensate the client $10 per plan member, up to a maximum of $40,000. Letters will start going out later on this month, for evaluations starting in October, 2012. The first wave of letters will go to clients with 50 or more staff. The second wave of letters, starting in October, 2013, will go to clients with 3-49 staff.
There are a few exceptions. This guarantee doesn’t apply to:
- clients who have asked not to be contacted
- terminating clients
- clients with TPAs who pay claims
- clients who already have service level agreements
It’s not a new idea, but it is new to our industry. Personally, I think that credit has to be given to Sun Life – not only for offering to compensate dissatisfied clients, but also for opening themselves up to be critiqued annually.
Chris
