Want to know how your employee benefits compare with others in your sector – or what your risks and costs are likely to be in the future? Our employee benefit data analytics have the answers.
At Aon, getting the most from data is what we do.
But why does that matter to you, in employee benefits?
Well, for one thing, we’ve built tools to tell you how your benefits programme stacks up against other, similar companies in your sector. And we can even use your employee data to forecast the future – how your risk profile is likely to change, what that might mean for your costs, and, crucially, what you can do about it.
Benefits benchmarking tool
Knowing how your benefits compare isn’t just interesting – it’s vital to your recruitment and retention. (If you don’t know what your competitors are offering, we’ll bet your employees do.)
Our benchmarking tool, Aon Bench, lets you compare group income protection, life assurance, DC pensions, and private medical insurance schemes against the going rate for your sector – not only what you’re offering, but what you’re paying too.
The result? You can immediately spot areas you can improve, as well as potential savings – helping to offset the rising tide of premiums.
We can also use insights from your data to give you tailored suggestions and advice to make your benefits deliver the most value for your employees – at the most efficient cost for you.
Predict the future – and influence it
Understanding the factors that affect employee health gives you a great opportunity to mitigate some of your risk (and your spend). Our Risk Forecaster tool pulls together data from your benefits scheme, employee absences, health data, and premium trends to give you an overview of your spend and – most importantly – how it’s likely to change in the future.
If you know how your risk profile and the resulting premiums are likely to evolve over the next few years, you’re then able to budget accordingly or, better still, take steps to mitigate those risks.
Go as deep as you like
Worldwide, we’ve invested $350 million in analytics, and handle hundreds of millions of data points every day. So if you want even more detail, it’s no problem. Our dedicated Innovation Centres in Dublin and Singapore have developed deep-dive tools to help you really dig into health and risk in your company.
For example, Aon Pulse looks for key trends in your medical claims, and breaks your risks down by demographic, to give you a better idea of your key cost drivers. And our Health Hub dashboard pulls in health and benefits data from all areas of your business, so you can assess your programme’s performance against your healthcare and risk strategy, and spot the areas that need your attention.
We could talk about data all day (but we’ll try not to). Drop us an email at email@example.com or call 0344 573 0033.