Willis Towers Watson has launched an online shopping option for employee benefits.

Its marketplace platform, which is both mobile and web-based, allows employees to shop for benefits online and provides coverage decision support.

“For employers, Benefits Marketplace moves us toward a truly personalized approach,” said Dawn Noordam, director of health and benefits consulting and leader of Benefits Marketplace Canada at Willis Towers Watson, in a press release. “The employer can choose the benefits offered and the amount to contribute toward them, while employees get to select how to spend their money in a simplified manner — much like an online shopping experience — through their enrolment period and beyond.”

Read: iA Financial Group introduces online group benefits enrolment tool

Swoop Inc., a low-cost airline owned by WestJet Airlines Ltd., is already using the online platform with its employees. Some 90 per cent of staff said the experience was positive and 98 per cent said they prefer to choose their own benefits rather than their employer doing so. 

“We chose Benefits Marketplace as it features unbundled products that allow for flexibility to fit personal and family needs,” said Colleen Ham, senior leader for people at Swoop. “It is smartphone enabled, provides decision support to help employees make informed choices and educates the employee about each benefit through the shopping process.”

The platform is designed to help plan sponsors manage costs, while allowing their workforce to have the flexibility to purchase the coverage most suitable to their needs in the areas of health, family and lifestyle and risk tolerance. 

“Many organizations do not have the resources or in-house expertise to assess these products or ensure that vendor arrangements are competitive,” said Kyros Ioannou, health and benefits growth leader for Canada at Willis Towers Watson. “With Benefits Marketplace, we do the legwork by aligning with partners that provide optimal financial and contracting terms for employee benefits products and services, including access to best-in-class vendors.”

Read: Equitable Life introduces online benefits enrolment

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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