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Top 4 characteristics of group accident insurance

Chris Manchester November 17, 2015

You’ve decided providing your employees with Group Personal Accident Insurance is the right move for your business. That’s great! But how do you know what plan is right for your business and employees? An accident plan should be flexible enough to respond to the situation and the employee population, while also considering personal and family dynamics.

Vice President, Accident and Health, Zurich Specialty Products

Chris Manchester is the Vice President for Zurich Specialty Products’ Accident and Health enhanced... About this expert

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When choosing a Group Personal Accident Insurance plan, you need to know that your employee will receive prompt attention to claims along with the protection needed to handle costly medical bills, unexpected living expenses, or other financial strains.

Here are some important considerations to make before choosing a plan:

  1. Seek quality: Look for catastrophic and minor coverage that supplements deductibles and can help with short- and long-term financial planning.
  2. Allow for flexibility: Look for a Group Personal Accident program that allows you to design a plan to meet the specific needs of the employee population. Just as each corporation is different, so are employees – multi-generational workforce, life stages, finances. Consider a group plan that offers employers and employees options.
  3. Expect communication support: Technology is changing how employees learn about and choose their benefits. Educational content should fit an employers’ benefits communication approach. The back-end integration with other technology platforms should also be seamless, saving time, money, and frustration.
  4. Check claims response: Whether it’s a minor occupational accident or a catastrophic off-the-job injury, employees need claims approved and cash to pay expenses, so they can focus on recovering. Employee-focused providers offer streamlined claims intake and processing, reducing payment delays.

In short, look for a Group Personal Accident Insurance plan that addresses the employee experience from purchase through claim approval.

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The information in this publication was compiled from sources believed to be reliable for informational purposes only. All sample policies and procedures herein should serve as a guideline, which you can use to create your own policies and procedures. We trust that you will customize these samples to reflect your own operations and believe that these samples may serve as a helpful platform for this endeavor. Any and all information contained herein is not intended to constitute advice (particularly not legal advice). Accordingly, persons requiring advice should consult independent advisors when developing programs and policies. We do not guarantee the accuracy of this information or any results and further assume no liability in connection with this publication and sample policies and procedures, including any information, methods or safety suggestions contained herein. We undertake no obligation to publicly update or revise any of this information, whether to reflect new information, future developments, events or circumstances or otherwise. Moreover, Zurich reminds you that this cannot be assumed to contain every acceptable safety and compliance procedure or that additional procedures might not be appropriate under the circumstances. The subject matter of this publication is not tied to any specific insurance product nor will adopting these policies and procedures ensure coverage under any insurance policy.

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