UK - Insurance giant Aon has launched a flexible benefits scheme which is available to more than 8000 of its UK-based employees.
Aon – which owns actuarial and investment adviser Aon Consulting – completed a test run of the flex scheme in April, before launching a limited version of it in May. Until now, the scheme only offered pensions, medical insurance, life assurance and additional holiday options.
But Aon senior flex consultant Lisa Page said the firm had now launched the full version of the scheme with a range of benefits and greater flexibility for existing features.
Under the Aon scheme – which uses its Select administration system – members will be able to buy or sell five days’ holiday, take out dental insurance or critical illness protection, buy home computer equipment, or opt for childcare or retail vouchers for high street stores.
Employees can purchase and vary the level of life assurance they have from one to four times salary, as well as broaden the coverage of their medical plan so that it covers family members too.
Head of reward and recognition Michael Rose said: “The main driver behind this was harmonisation. One of the major things we’ve been doing over the past few years is harmonising benefits, terms and conditions across the organisation as part of our strategic move of one Aon.”
Rose pointed out that Aon had a lot of legacy companies which were administratively expensive, inconsistent and inequitable while “our strategic business driver is ‘one Aon’ to make sure people work more closely together and present more of Aon to our clients”.
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