Options for your clients

Full Flex

Full flex platforms deliver the ability for employees to view, select and amend contributions and cover levels on core benefits such as Pension, Group Life, PMI, GIP, CIC, Cash Plans and holiday trading within pre agreed parameters. Employees can also explore and select from a range of voluntary benefits. Core benefits (both contractual and non-contractual) the levels provided and/or chosen, along with any voluntary benefit selections are collaborated into a Total Reward Statement . The simplest way to explain the thinking behind the Total Reward Statement is if we stopped an employee of one of your clients in the street and asked them how much they earn they might say my salary is £20k, £50k, 70k or £100k etc. What they probably wouldn’t state is the value of the wider benefits their employer offers. The purpose of the Total Reward Statement is to provide visibility of the full benefits package your client provides to their employees, this can often be worth thousands of pounds on top of basic salary. This visibility helps drive employee retention, engagement, and motivation.

Read Only option

The Read Only option of the Benefits Management System provides the ability for employees of your clients to read about the benefits they have access to minus the ability to apply or amend cover levels.

This option is popular with Intermediary Partners who:

  • wish to explore adding benefits technology to their offering
  • have clients who wish to implement an employee benefits platform for the first time but may be nervous about overcommitting
  • have clients who want a high quality benefits platform without the need to supply and manage employee benefit data
  • have clients who have a limited range of benefits
  • perhaps have a more limited budget

Your clients have the option to start out on a Read Only platform and migrate to full flex models in the future. We also have versions of the Read Only platform which offer read only core benefits options but can still accommodate online applications for voluntary benefits.

Full Flex - Intermediaries

Models of Engagement

Pay as you Go  

You inform My Benefits World how many employees your client has and the type of Benefits Management System they require, full flex or read only. The cost is dictated by the number of employees your client has and levels of support required from My Benefits World. This option also attracts a one-off set-up fee and the per head charge is payable annually.

Licensing

The second and most popular option is a licensing arrangement whereby you pay a fixed monthly cost and you can add on as many clients and employees as you wish. There are no wider set-up fees, the only additional charges would be for ultra-bespoke benefit builds and certain types of data integration with third party systems. Due to demand, we only have a very limited numbers of licenses available. We have clients who have started off on a pay as you go model and moved over to a license as they have built their portfolio.

Client Ownership

Regardless to which option you go down, you always retain ownership of your client. My Benefits World contracts with and charges your business (as the intermediary) and you charge your client as you see fit. This grants complete flexibility to whether you choose to generate revenue from the Benefits Management System and/or offset the cost to the client against wider income streams. Having worked with intermediaries for many years we realise that one of the main barriers to implementing these types of systems can be the perceived risk, real or otherwise, of losing client ownership (or even letting a Trojan horse in the door). My Benefits World will not contact your client to sell services to them directly without seeking your permission, at all times, you retain ownership of your client.

Intermediaries - Pay as you go

Support

We work with you and your client to scope out their requirements, build, and ultimately launch the benefits platform. The support options available range from you and/or the client providing My Benefits World with a specification and the required data, and we build the platform, to providing you with the tools to build and launch the platform for the client yourself. We understand that to start with you may want My Benefits World to build the platforms and as you become more familiar with the Benefit Management System take over more of the work yourselves, please be assured we will provide full training and support throughout our partnership.

My Benefits World can also provide support regarding employee engagement initiatives to raise awareness of the platform, benchmarking of benefits by industry type, current trends we are seeing and details of new benefits entering the market. In addition, we can also advise on setting spend limits on items such as voluntary benefits to manage client cash flow and the implementation of reward and recognition systems.

Finally, in addition to supplying technology My Benefits World also provides a wide range of voluntary benefits – details of which can be found within this website. We can offer your clients a one-stop shop for voluntary benefits with centralised administration and billing for ease of delivery and ongoing operation. We may also be able to share revenue on some voluntary benefits with you, generating additional income streams for your business.

My Benefits World currently supports intermediary partners with client portfolios ranging from SME to large corporates with over 10,000 employees.

Intermediaries - Support

We hold the following accreditations

AccreditationAwarding BodyCoverage
ISO 27001NQAInformation Security Management
ISO 27701NQAPrivacy Information Management
ISO 27017NQASecurity Controls for Cloud Services
ISO 27018NQASecuirty Controls for Personal Data in the Cloud
ISO 22301NQABusiness Continiuty Management
ISO 9001NQAQuality Management
EcoVadisEcoVadisSilver Award

EcoVadis is a globally recognized assessment platform that rates businesses’ sustainability based on four key categories: environmental impact, labor, and human rights standards, ethics, and procurement practices.

What We Do

Find out more about how we can guide you and your business through the world of employee benefits.

Benefit Management System Voluntary Employee Benefits Company Paid Benefits Intermediaries