Moscow, 22 August, AIG will present an innovative solution for the benefits administration online: in addition to insurance products the company plans to offer its corporate clients a new free web-based platform for administration of social packages of employees. This platform will allow employers considerably simplify benefit administration processes, including the ones developed on the bases of AIG personal insurance products. The platform will also allow employers to quickly provide information to their employees about the provided package of benefits and compensation.
This solution will allow companies to select the best insurance program for them, to hold the directory of their benefits and social packages, manage lists of participants, limits, rules and subscription schedules of benefits, and generate reports on the use of benefits by employees. The platform can be integrated with HR, payroll and financial systems, as well as systems of benefit providers.
New IT-solution also enables to manage benefits according to the so-called “cafeteria” principle, when instead of a standard set of benefits the employee is offered a “menu” of different products and services and the right to choose the benefits most relevant for him.
To date, the project covers accident, health and travel insurance programs, but in the near-term AIG plans to transfer to the web-based platform the WSM programs (voluntary insurance of employees), which would include products related to personal insurance and insurance of personal property, as well as for the time of travel.
“Studies show that more than 80% of companies administer benefit packages manually, or by using automation in MS Excel, which considerably limits the possibility of granting additional benefits. The product developed by joint efforts with AGroup allows to find an individual approach to each employee while minimizing the time resources spent,” said the head of the Division of Accident and travel insurance of CJSC “AIG” Michael Ryzhkov.
Denis Chalov, CEO of AGroup in Russia, commented on this event: “We in AGroup believe that employees are the most valuable asset for any company, helping it to achieve economic heights. Therefore I am very pleased to note that AIG as one of the first companies is beginning to offer its clients the solution based on the AGroup platform that helps employers to solve very important business tasks – to motivate employees and retain talents. When creating a platform we have relied on the many years of experience of our cooperation in the area motivation and strategic human resource management with companies of different level in Russia and abroad. Now, our experience and expertise will help clients of AIG to enhance economic efficiency and gain competitive advantage.”
For more information please contact the press centre of the CJSC “AIG”: natalia.berezina@aig.com, ph.: 8 9629370694
Information about the company:
CJSC “AIG” is part of an international group American International Group, Inc. (AIG). In Russia, the company is represented for 19 years, has a financial strength rating of A+ (Expert RA). AIG is one of the world leaders in the field of personal and property insurance. AIG is a leading insurance company providing services to clients in more than 100 countries. AIG companies provide services to legal entities, public institutions and private clients, taking advantage of the largest global network of property and personal insurance. In addition, AIG companies are leading insurance companies in the field of life insurance and pensions in the United States. Ordinary shares of AIG are placed on the stock exchanges of New York and Tokyo.
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AGroup is the leading company in Russia and Eastern Europe in the field of automation of processes of strategic human resource management. The company’s products simplify and modernize these processes, enhancing the performance of more than 550 organizations in 22 countries around the world. AGroup provides services to the most diverse companies – public and health care facilities, financial, manufacturing and distribution companies, as well as companies engaged in retail trade. The company’s products are used to manage organizations with a staff of 20 to 10,000 people.
The newly developed product of the company – a system of employee benefits administration is a unique and innovative solution helping to improve employee motivation and reduce staff turnover having no analogues in the Russian market.
www.agroup.lv/hrb-portal-ru/functionality-ru/benefits_administration-ru